An influential Europe Cochlear Implants market report brings into focus comprehensive evaluation of the market’s growth prospects and restrictions. All the industry insights of this global market document will lead to actionable ideas and better decision-making. This market research report has several benefits which can be projected to wide-ranging aspects of Medical Devices industry. In addition, market share analysis as well as key trend analysis is the main accomplishing factors in this market report. It helps to draw target audiences for the clients before launching any advertising campaign. With the large scale Europe Cochlear Implants market survey report, it becomes easy to collect industry information more quickly.
Data Bridge Market Research analyses that the cochlear implants market which is USD 535.83 million in 2022, is expected to reach USD 1208.39 million by 2030, at a CAGR of 10.7% during the forecast period 2023 to 2030. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
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Market Overview:
A cochlear implant (CI) is a medical device that uses electricity to stimulate the auditory nerve's spiral ganglion cells, restoring sensorineural hearing loss. This device's purpose is to convert sound into an electrical signal and deliver it to the hearing nerve, by passing the damaged hearing apparatus.
Europe Cochlear Implants Market Dynamics
Drivers
Increase in Elderly Population
The growing elderly population is expected to drive the cochlear implant market forward. According to the WHO, the population aged 60 and up accounted for more than 1.0 billion in 2020 and is expected to reach 1.4 billion by 2050. As hearing ability declines with age, an increase in the age population is expected to drive market growth.
Some of the major players operating in the cochlear implants market are:
- Cochlear Ltd (Australia)
- MED-EL Medical Electronics (India)
- Advanced Bionics AG (Switzerland)
- Medtronic (Ireland)
- Oticon (Denmark)
- Zhejiang Nurotron Biotechnology Co., Ltd (China)
- Widex A/S (Denmark)
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