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)
ASIA PACIFIC COCHLEAR IMPLANTS – MARKET SEGMENTATION
By Type Of Fitting
ASIA PACIFIC COCHLEAR IMPLANTS – MARKET SEGMENTATION
By End User
By Country
Companies Mentioned
| Report Attribute | Details |
|---|---|
| Market size in 2018 | US$ 291.6 Million |
| Market Size by 2027 | US$ 833.1 Million |
| CAGR (2019 - 2027) | 12.5% |
| Historical Data | 2016-2017 |
| Forecast period | 2019-2027 |
| Segments Covered |
By Type of Fitting
|
| Regions and Countries Covered |
Asia-Pacific
|
| Market leaders and key company profiles |
|
The Asia Pacific Cochlear Implants Market is valued at US$ 291.6 Million in 2018, it is projected to reach US$ 833.1 Million by 2027.
As per our report Asia Pacific Cochlear Implants Market, the market size is valued at US$ 291.6 Million in 2018, projecting it to reach US$ 833.1 Million by 2027. This translates to a CAGR of approximately 12.5% during the forecast period.
The Asia Pacific Cochlear Implants Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the Asia Pacific Cochlear Implants Market report:
The Asia Pacific Cochlear Implants Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The Asia Pacific Cochlear Implants Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the Asia Pacific Cochlear Implants Market value chain can benefit from the information contained in a comprehensive market report.
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