Europe Cochlear Implants Market to Reach US$ 1,076.4 Mn at a CAGR of 11.6% in 2027

The Europe Cochlear implants market is expected to reach US$ 1,076.4 Mn in 2027 from US$ 404.5 Mn in 2018. The market is estimated to grow with a CAGR of 11.6% from 2019-2027.

The growth of the market is driven by factors such as the increasing aging population in Europe and the growing prevalence of hearing loss in the European region. Whereas, risks 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 geriatric population is a growing public health burden worldwide. As per the national institute on aging, around one in three people between the ages of 65 and 74 has hearing loss, and nearly half of those older than 75 have difficulty hearing. The aging population is poised to become one of the most significant transformations with a heavy impact on the social and economic levels across Europe. This population is growing exponentially. According to the 2018 Ageing Report, Europe’s total population of 511 million in 2016 is expected to reach 520 million in 2070. The report also mentioned that the working-age population of 333 million in 2016 is estimated to decrease to 292 million in 2070.

Furthermore, as per the factsheet Later Life in the United Kingdom 2019, there are approximately 11,989,322, (12 million) people aged 65 years or more of which 5.4 million people are over 75 years, 1.6 million are aged over 85 years, and over 500,000 people are aged 90+ (579,776) and around 14,430 are centenarians.

Moreover, according to The Aging Readiness & Competitiveness Report – Germany, Germany is one of only five “super-aged” countries across the globe, and the population aged 65 and above is projected to increase 41 percent to 24 million individuals by 2050. Thus, in 2050, the number of those aged 65 and older will be one-third of the estimated total population of 75 million.

The elderly people are more likely to have a hearing disability than younger people, and the effect of the disease on quality of life is particularly deep in this population. 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 elderly population in France is expected to drive cochlear implants market growth as they are more prone to hearing disorders. As in other European countries, France faces a continuous and significant increase in the number of elderly people: in 2012, there were 15 million people aged more than 60 years old in France. This number will reach 24 million in 2060. The rising number of the elderly population and the growing medical device industry in the country create a lucrative opportunity and the presence of an established market for cochlear implants.

Rest of Europe Cochlear Implants Market Revenue and Forecasts to 2027 (US$ Bn)

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Europe Cochlear Implants Strategic Insights

Strategic insights for the Europe Cochlear Implants provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.

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Europe Cochlear Implants Report Scope

Report Attribute	Details
Market size in 2018	US$ 404.5 Million
Market Size by 2027	US$ 1,076.4 Million
Global CAGR (2019 - 2027)	11.6%
Historical Data	2016-2017
Forecast period	2019-2027
Segments Covered	By Type of Fitting Unilateral Implantation Bilateral Implantation By End User Adults Pediatrics
Regions and Countries Covered	Europe UK Germany France Russia Italy Rest of Europe
Market leaders and key company profiles	Cochlear Ltd. MED-EL Sonova Nurotron Biotechnology Co. Ltd. Medtronic Demant A/S Starkey WIDEX A/S Amplifon GN Hearing A/S

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Europe Cochlear Implants Regional Insights

The geographic scope of the Europe Cochlear Implants refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.