U.S. Cochlear Implants Market Size, Share & Trends Analysis Report By Age Group (Adult, Pediatric), By End-use (Hospitals, Clinics), By Region, And Segment Forecasts, 2024 - 2030
U.S. Cochlear Implants Market Size, Share & Trends Analysis Report By Age Group (Adult, Pediatric), By End-use (Hospitals, Clinics), By Region, And Segment Forecasts, 2024 - 2030
U.S. Cochlear Implants Market Growth & Trends
The U.S. cochlear implants market size is anticipated to reach USD 940.1 million by 2030, growing at CAGR of 6.08% from 2024 to 2030, according to a new report by Grand View Research, Inc. The number of individuals with hearing impairments and the increasing prevalence of age-related hearing loss in the U.S. is driving the demand for cochlear implants in the U.S. market.
According to the National Institute of Deafness and Other Communication Disorders (NIDCD), 2 to 3 out of every 1000 children have hearing loss that can be identified in the U.S. It also stated that roughly 1 in 1000 live infants are affected by sensorineural unilateral hearing loss in the country. The U.S. Food and Drug Administration (FDA) authorized cochlear implantation in 2019 for children with single-sided deafness (SSD) who were five years or older to help these patients.
By raising awareness about hearing loss and the benefits of cochlear implants, these organizations increase demand and promote a better understanding of the technology, which would drive the market's growth. Government initiatives focusing on therapeutic value and discriminatory issues spurred by people with impairments, such as expanded coverage for cochlear implants in the U.S. promote market expansion.
U.S. Cochlear Implants Market Report Highlights
Based on age group, the adult segment held the largest market share of over 64.2% in 2023 owing to the rising prevalence of hearing loss. The pediatric segment is expected to grow at the fastest CAGR from 2024 to 2030
Based on end-use, the clinics segment accounted for the largest revenue share in 2023. Clinics, particularly ENT clinics, are essential providers of cochlear implant services, offering expertise in evaluating candidates for implants, conducting surgeries, and providing post-operative care
The rising diagnosis rates, growing awareness of hearing impairment, growing desire for bilateral fittings, and supportive government programs are some factors expected to drive this growth.
In June 2021, Oticon Medical announced that the Neuro System, the company's product for treating individuals 18 years of age or older with bilateral severe-to-profound sensorineural hearing loss, has received premarket approval (PMA) from the U.S. Food and Drug Administration (FDA). These individuals stand to benefit limitedly from wearable technology, by entering the U.S. market with its cochlear implant products.
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Chapter 1. Methodology and Scope
1.1. Market Segmentation & Scope
1.2. Segment Definitions
1.2.1. Age Group
1.2.2. End-use
1.2.3. Estimates and forecasts timeline
1.3. Research Methodology
1.4. Information Procurement
1.4.1. Purchased database
1.4.2. GVR's internal database
1.4.3. Secondary sources
1.4.4. Primary research
1.5. Information or Data Analysis
1.5.1. Data analysis models
1.6. Market Formulation & Validation
1.7. Model Details
1.7.1. Commodity flow analysis (Model 1)
1.7.2. Volume price analysis (Model 2)
1.8. List of Secondary Sources
1.9. List of Primary Sources
1.10. Objectives
Chapter 2. Executive Summary
2.1. Market Outlook
2.2. Segment Outlook
2.2.1. Age Group outlook
2.2.2. End-use outlook
2.3. Competitive Insights
Chapter 3. U.S. Cochlear Implants Market Variables, Trends & Scope
3.1. Market Lineage Outlook
3.1.1. Parent market outlook
3.1.2. Related/ancillary market outlook
3.2. Market Dynamics
3.2.1. Market driver analysis
3.2.2. Market restraint analysis
3.3. U.S. Cochlear Implants Market Analysis Tools
3.3.1. Industry Analysis - Porter's
3.3.1.1. Supplier power
3.3.1.2. Buyer power
3.3.1.3. Substitution threat
3.3.1.4. Threat of new entrant
3.3.1.5. Competitive rivalry
3.3.2. PESTEL Analysis
3.3.2.1. Political landscape
3.3.2.2. Technological landscape
3.3.2.3. Economic landscape
Chapter 4. U.S. Cochlear Implants Market: Age Group Estimates & Trend Analysis
4.1. Age Group Market Share, 2023 & 2030
4.2. Segment Dashboard
4.3. U.S. Cochlear Implants Market by Age Group Outlook
4.4. Market Size & Forecasts and Trend Analyses, 2018 to 2030 for the following
4.5. Adult
4.5.1. Market estimates and forecast, 2018 - 2030 (USD Million)