Hearing Implants - Market Insights, Competitive Landscape, and Market Forecast - 2030

Hearing Implants - Market Insights, Competitive Landscape, and Market Forecast - 2030

Hearing Implants by Product Type (Cochlear Implants, Middle Ear Implants, Bone Conduction Implants, and Auditory Brainstem Implants), Processor Type (Behind the Ear Processor and Body-Worn Processor), Application (Conductive Hearing Loss, Mixed Hearing Loss, and Sensorineural Hearing Loss), End-User (Hospitals, ENT Clinics, and Others), and Geography (North America, Europe, Asia-Pacific, and Rest of the World) is expected to grow at a steady CAGR forecast till 2030 owing to the rising burden of hearing loss, increasing awareness and screening programs related to hearing disorders, and increase in product development activities by the key market players across the globe.

The global hearing implants market was valued at USD XX billion in 2023, growing at a CAGR of 7.38% during the forecast period from 2024 to 2030, to reach USD XX billion by 2030. The rise in demand for hearing implants is predominantly attributed to the escalating prevalence of hearing loss of different types such as conductive hearing loss, mixed hearing loss, one-sided sensorineural hearing loss, and others among the population worldwide. Moreover, the growing old-age population, technological advancement in the product arena, and an increase in product approvals and product launches in the domain of the hearing implants are some other factors responsible for hearing implants market growth during the forecast period from 2024 to 2030.

Hearing Implants Market Dynamics:

According to the latest data provided by the World Health Organization (2024), by 2050, nearly 2.5 billion people were projected to have experienced some degree of hearing loss, with at least 700 million requiring hearing rehabilitation. Over 1 billion young adults were at risk of permanent, avoidable hearing loss due to unsafe listening practices. Nearly 80% of individuals with disabling hearing loss are living in low- and middle-income countries. The prevalence of hearing loss had increased with age, with over 25% of those older than 60 years being affected by disabling hearing loss.

Additionally, according to data from the Australian Government published in 2024, approximately 3.6 million people had experienced some level of hearing loss. Additionally, over one in three Australians had suffered noise-related ear damage.

As the number of individuals affected by hearing loss rises due to aging population, environmental factors, and increased noise exposure, the demand for advanced hearing solutions, such as hearing implants, is growing, thereby boosting the overall market.

Furthermore, increasing awareness and screening programs related to hearing disorders will also contribute to the positive growth of the hearing implants market. For instance World Hearing Day is held annually on March 3rd, this global event, is organized by the World Health Organization (WHO), aims to raise awareness about hearing loss and promote ear and hearing care. In 2023, the theme was ""Ear and Hearing Care for All,"" emphasizing the need for accessible hearing care worldwide. Awareness programs educate the public about hearing loss and the availability of advanced hearing implants, including cochlear implants and bone-anchored hearing aids. As more people become informed about these technologies, they are more likely to seek out and invest in hearing implants, driving market growth.

Additionally, companies are amplifying their production of hearing implants and securing regulatory approvals, thereby strategically expanding their market presence and driving further growth. For instance, in March 2021, Cochlear received FDA clearance for Baha 6 Max, the industry's smallest 55 dB sound processor with direct android streaming.

Thus, the factors mentioned above are likely to boost the market of hearing implants during the forecasted period.

However, the requirement of surgery for implantation leading to the risk of infection and potential damage to surrounding tissues and stringent regulatory concerns for product approval may hinder the future market of hearing implants.

Hearing Implants Market Segment Analysis:

Hearing Implants by Product Type (Cochlear Implants, Middle Ear Implants, Bone Conduction Implants, and Auditory Brainstem Implants), Processor Type (Behind the Ear Processor and Body-Worn Processor), Application (Conductive Hearing Loss, Mixed Hearing Loss, and Sensorineural Hearing Loss), End-User (Hospitals, ENT Clinics, and Others), and Geography (North America, Europe, Asia-Pacific, and Rest of the World)

In the product type segment of hearing implants market the continuous positive airway pressure device are expected to hold a significant share in 2023. Cochlear implants are significantly boosting the overall market for hearing implants by offering a highly effective solution for individuals with severe to profound sensorineural hearing loss who do not benefit from traditional hearing aids. These implants work by bypassing damaged hair cells in the inner ear and directly stimulating the auditory nerve, providing users with a sense of sound that can be transformative in their daily lives. The growing acceptance and adoption of cochlear implants are driven by advancements in technology, which have improved the safety, performance, and comfort of these devices. Innovations such as enhanced sound processing, wireless connectivity, and miniaturized components have expanded the range of candidates and increased the overall effectiveness of cochlear implants.

Furthermore, according to the recent data provided by the National Institute on Deafness and Other Communication Disorders (2021), there were approximately 736,900 cochlear implants were implanted worldwide. Cochlear implants are widely preferred by the target population as they are cost-effective and are available in both unilateral and bilateral fitting types.

Additionally, an increase in approval of a variety of cochlear implants is also anticipated to augment the cochlear implant market growth. For instance, in June 2021, Oticon received FDA pre-market approval (PMA) for its Neuro Cochlear implant system indicated to treat severe to profound sensorineural hearing loss.

Therefore, owing to the above-mentioned factors, the cochlear implants category is expected to generate considerable revenue thereby pushing the overall growth of the global hearing implants market during the forecast period.

Asia-Pacific is expected to dominate the overall hearing implants market:

Asia-Pacific is expected to account for the highest proportion of the hearing implants market in 2023, out of all regions. This can be ascribed to the increasing prevalence of hearing loss, increase government initiatives coupled with increased awareness programs for hearing disorders, and the presence of key market players engaged in merges, acquisition, product launches, and other market activities across the region are expected to escalate the market of hearing implants during the forecast period.

As per the recent data and stats provided by the Australian Government Department of Health and Aged Care (2024), approximately 3.6 million people had some level of hearing loss. As Australia’s population aged, the number of individuals with hearing impairment was expected to double, reaching an estimated 7.8 million by 2060.

For instance, according a survey report published by the Ministry of Health and Family Welfare (Government of India), in 2021, disabling hearing loss affected 2.9% of the population in India.

Additionally, as per the recent data provided by the National Council of Aging (2024), approximately, 136.5 million people in Australia, China, Japan, and New Zealand had some kind of hearing loss. As hearing impairments negatively impact communication, cognitive function, and quality of life, the demand for effective solutions such as cochlear implants, bone-anchored hearing systems, and middle ear implants is rising. Additionally, age-related hearing loss affects millions globally, and with life expectancy increasing, a larger population is expected to require advanced hearing solutions.

Therefore, the above-mentioned factors are expected to bolster the growth of the hearing implants market in the Asia-Pacific during the forecast period.

Hearing Implants Market Key Players:

Some of the key market players operating in the hearing implants market include MED-EL Medical Electronics., Sonova, Demant A/S, Medtronic, Cochlear Limited, Envoy Medical., Ototronix, TODOC Co., Ltd., Advanced Bionics, Oticon, Starkey Hearing Technologies, RION Co., Ltd., Nurotron Biotechnology Co., Ltd., Crispian Hearing Ltd., Abiomed, and others.

Recent Developmental Activities in the Hearing Implants Market:

• In December 2023, Advanced Bionics (AB) received FDA approval and expanded its Marvel CI product offerings to enhance hearing care. This included remote programming through the AB Remote Support app for easier access, linked two-ear solutions with a CROS device for improved bilateral hearing, and the release of Target CI version 1.5, a more efficient programming software for both cochlear implants and hearing aids.
• In November 2022, Cochlear Limited received FDA approval for the Cochlear™ Nucleus® 8 Sound Processor, which became the smallest and lightest behind-the-ear cochlear implant sound processor. It was also the first to offer direct audio connectivity to consumer electronics using next-generation LE Audio technology from Bluetooth.
• In January 2022, Cochlear Limited, a leading company in hearing implants, received approval from the U.S. Food and Drug Administration (FDA) for its Cochlear™ Nucleus® Implants to treat unilateral hearing loss (UHL) or single-sided deafness (SSD). This means their implants can now be used to help people who have hearing loss in just one ear.

Key Takeaways From the Hearing Implants Market Report Study:

• Market size analysis for current hearing implants size (2023), and market forecast for 6 years (2024 to 2030)
• Top key product/technology developments, mergers, acquisitions, partnerships, and joint ventures happened for the last 3 years
• Key companies dominating the hearing implants market.
• Various opportunities available for the other competitors in the hearing implants market space.
• What are the top-performing segments in 2023? How these segments will perform in 2030?
• Which are the top-performing regions and countries in the current hearing implants market scenario?
• Which are the regions and countries where companies should have concentrated on opportunities for hearing implants market growth in the coming future?

Target Audience who can be Benefited From This Hearing Implants Market Report Study:

• Hearing implants product providers
• Research organizations and consulting companies
• Hearing implants -related organizations, associations, forums, and other alliances
• Government and corporate offices
• Start-up companies, venture capitalists, and private equity firms
• Distributors and traders dealing in hearing implants
• Various end-users who want to know more about the hearing implants market and the latest technological developments in the hearing implants market.

Frequently Asked Questions for the Hearing Implants Market:

1. What are hearing implants?

Hearing implants are small electronic devices that are surgically placed in the ear to rectify severe hearing loss. Based on which part of the ear is affected there are different hearing implants such as cochlear implants, middle ear implants, and bone conduction implants, among others available in the market.

2. What is the market for hearing implants?

The global hearing implants market was valued at USD XX billion in 2023, growing at a CAGR of 7.38% during the forecast period from 2024 to 2030, to reach USD XX billion by 2030.

3. What are the drivers for the hearing implants market?

The rise in demand for hearing implants is predominantly attributed to the escalating prevalence of hearing loss of different types such as conductive hearing loss, mixed hearing loss, one-sided sensorineural hearing loss, and others among the population worldwide. Moreover, the growing old-age population, technological advancement in the product arena, and an increase in product approvals in the domain of hearing implants are some other factors responsible for hearing implants market growth during the forecast period from 2024 to 2030.

4. Who are the key players operating in the hearing implants market?

Some of the key market players operating in the hearing implants market include MED-EL Medical Electronics., Sonova, Demant A/S, Medtronic, Cochlear Limited, Envoy Medical., Ototronix, TODOC Co., Ltd., Advanced Bionics, Oticon, Starkey Hearing Technologies, RION Co., Ltd., Nurotron Biotechnology Co., Ltd., Crispian Hearing Ltd., Abiomed, and others.

5. Which region has the highest share in the hearing implants market?

Asia-Pacific is expected to account for the highest proportion of the hearing implants market in 2023, out of all regions. This can be ascribed to the increasing prevalence of hearing loss, increase government initiatives coupled with increased awareness programs for hearing disorders, and the presence of key market players engaged in merges, acquisition, product launches, and other market activities across the region are expected to escalate the market of hearing implants during the forecast period.