Asia Pacific Cochlear Implants Market to Reach US$ 833.1 Mn at a CAGR of 12.5% in 2027

Asia Pacific Cochlear Implants Market to 2027- Regional Analysis and Forecasts By Type of Fitting (Unilateral Implantation, Bilateral Implantation) and By End User (Adults, Pediatrics) and Country

  • Report Code : TIPRE00007979
  • Category : Medical Device
  • Status : Published
  • No. of Pages : 112
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The Asia Pacific Cochlear implants market is expected to reach US$ 833.1 Mn in 2027 from US$ 291.6 Mn in 2018. The market is estimated to grow with a CAGR of 12.5% from 2019-2027.

The growth of the market is driven by factors such as the rising number of the elderly population in the Asia Pacific and the increasing incidence of hearing loss in the Asia Pacific region whereas the high cost associated with cochlear surgery is likely to have a negative impact on the growth of the market in the coming years.

Hearing loss among the old age population is a growing public health concern worldwide. As per the United Nations, Economic and Social Commission for Asia and the Pacific (ESCAP) report on aging, around one in four people in the Asia Pacific region will be 60 years old or more by 2050. The report mentioned that the number is expected to double from 535 million in 2015 to around 1.3 billion in 2050. Furthermore, it also reported that the oldest population (80 years or older) is also rising. The oldest population in 2016 was 1.5 percent (68 million) of the total population. This proportion is estimated to triple to 5.0% (258 million) by 2050.

Furthermore, as per the Population Census 2011, the number of old age people in India was 104 million. However, the United Nations Population Fund and HelpAge India report are estimated to grow to 173 million by 2026. Similarly, China’s population is aging at a much faster rate than other low- and middle-income countries in the Asia Pacific region. The world health organization’s China country assessment report on aging and health reported that the number of people aged 60 years and over would increase from 12.4% in 2010 to 28% in 2040.

The elderly people are more likely to have a hearing disorder than younger people, and the outcome of the disability on quality of life is particularly deep in this population. Thus, with an increase in the number of an aging population, the prevalence of hearing disorders has increased. Therefore, the demand for cochlear implants is expected to increase during the forecast period.

The rising number of the geriatric population in India is expected to drive cochlear implants market growth as they are more prone to hearing disorders. India's cochlear implant devices market offers a lucrative future opportunity due to the presence of a large number of patient population and low market penetration. The expenses for cochlear implant surgery is less in India as compared to other countries such as U.S., UK, UAE, and others. The low surgery costs attract a large number of medical tourists leading to a high device demand. Thus, creating lucrative opportunities and the presence of an established market for cochlear implants.

Rest of Asia Pacific Cochlear implants market Revenue and Forecasts to 2027 (US$ Mn)

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ASIA PACIFIC COCHLEAR IMPLANTS – MARKET SEGMENTATION

By Type Of Fitting

  • Unilateral Cochlear Implantation
  • Bilateral Cochlear Implantation

ASIA PACIFIC COCHLEAR IMPLANTS – MARKET SEGMENTATION

By End User

  • Adults
  • Pediatrics

By Country

  • France
  • Germany
  • U.K.
  • Spain
  • Italy

Companies Mentioned

  • Cochlear Ltd.
  • MED-EL
  • Sonova
  • Nurotron Biotechnology Co. Ltd.
  • Medtronic
  • Demant A/S
  • Starkey
  • WIDEX A/S
  • Amplifon
  • GN Hearing A/S
Report Coverage
Report Coverage

Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

Segment Covered
Segment Covered

Type of Fitting and By End User and Country

Regional Scope
Regional Scope

North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

Country Scope
Country Scope

Australia, China, Japan, South Korea

The List of Companies in Asia Pacific Cochlear Implants Market

 

  1. Cochlear Ltd.
  2. MED-EL
  3. Sonova
  4. Nurotron Biotechnology Co. Ltd.
  5. Medtronic
  6. Demant A/S
  7. Starkey
  8. WIDEX A/S
  9. Amplifon
  10. GN Hearing A/S

The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.

  1. Data Collection and Secondary Research:

As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.

Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.

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Below is the breakup of our primary respondents by company, designation, and region:

Research Methodology

Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.

  1. Data Analysis:

Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.

  • 3.1 Macro-Economic Factor Analysis:

We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.

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The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.

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Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.

  1. Data Triangulation and Final Review:

The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.

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