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Cochlear implants market to grow by USD 811.6M from 2022-27

The cochlear implants market to grow by USD 811.6 million at a CAGR of 8.62% from 2022 to 2027, according to the latest research report from Technavio.

Company landscape
The global cochlear implants market is fragmented, with many international players such as Cochlear, Sonova and MED EL providing hearing aids with high functionality and compact designs. With growing advances in technology and product innovation, the competition in the market is intensifying. The cochlear implant market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.

Regional market outlook
North America will contribute 35% to the growth of the global market during the forecast period. The growth of the regional market is attributed to the availability of favorable reimbursements; the introduction of innovative and advanced products; and the growing adoption of such products. Additionally, growing initiatives to improve awareness, the expansion of field sales organizations and direct-to-consumer (DTC) marketing, and enhanced sales-force effectiveness are also boosting the market growth in the region. Hence, such factors fuel the regional market growth during the forecast period.

Companies mentioned

  • Amplifon SpA
  • Cochlear Ltd.
  • Envoy Medical Corp.
  • iotaMotion Inc.
  • MED EL Elektromedizinische Gerate GmbH
  • Medtronic Plc
  • Neubio AG
  • Olympus Corp.
  • Oticon Medical AS
  • Ototronix LLC
  • Shanghai Lishengte Medical Technology Co. Ltd.
  • Sonova AG
  • Starkey Laboratories Inc.
  • The Cochlear Implant Group India
  • TODOC Co. Ltd.
  • ZHEJIANG NUROTRON BIOTECHNOLOGY CO. LTD.

Technavio

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