Canada Cochlear Implant Market Size & Outlook, 2023-2030
Canada cochlear implant market, 2018-2030 (US$M)
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Canada cochlear implant market highlights
- The Canada cochlear implant market generated a revenue of USD 24.7 million in 2023 and is expected to reach USD 34.0 million by 2030.
- The Canada market is expected to grow at a CAGR of 4.7% from 2024 to 2030.
- In terms of segment, outpatient facilities was the largest revenue generating end use in 2023.
- OUTPATIENT FACILITIES is the most lucrative end use segment registering the fastest growth during the forecast period.
Cochlear implant market data book summary
| Market revenue in 2023 | USD 24.7 million |
| Market revenue in 2030 | USD 34.0 million |
| Growth rate | 4.7% (CAGR from 2023 to 2030) |
| Largest segment | Outpatient facilities |
| Fastest growing segment | OUTPATIENT FACILITIES |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | HOSPITALS, OUTPATIENT FACILITIES |
| Key market players worldwide | Cochlear Ltd, Sonova Holding AG, Demant A/S, Amplifon SpA Az nom Post Frazionamento, MED-EL, Zhejiang Pushkang Biotechnology Co. |
Other key industry trends
- In terms of revenue, Canada accounted for 1.5% of the global cochlear implant market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In North America, U.S. cochlear implant market is projected to lead the regional market in terms of revenue in 2030.
- U.S. is the fastest growing regional market in North America and is projected to reach USD 963.7 million by 2030.
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Cochlear Implant Market Scope
Cochlear Implant Market Companies
| Name | Profile | # Employees | HQ | Website |
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Canada cochlear implant market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to cochlear implant market will help companies and investors design strategic landscapes.
Outpatient facilities was the largest segment with a revenue share of 87.85% in 2023. Horizon Databook has segmented the Canada cochlear implant market based on hospitals, outpatient facilities covering the revenue growth of each sub-segment from 2018 to 2030.
The increasing awareness about hearing aid solutions, favorable government support, and several initiatives undertaken by various organizations are some of the key factors expected to propel market growth in Canada. Cochlear implant surgeries are now widely performed in Canada, and the number of surgeries is continuously increasing.
Furthermore, the government of Canada supports access to cochlear implants for every child with hearing loss and endeavors to reduce the waiting time by providing additional cochlear implants through funding. For instance, in December 2023, Montreal Children’s Hospital (MCH) and McGill University Health Centre (MUHC) announced the start of a second cochlear implant point of service in Quebec.
The purpose of the clinic is to provide children and adults with hard of hearing & hearing loss living in the western part of the province with the chance to benefit from complete, state-of-the-art hearing health care near home. Some of the key players operating in the market are Cochlear Ltd., MED-EL Medical Electronics, Sonova (Advanced Bionics), Union Hearing Aid Centre Ltd., and others.
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Our clientele includes a mix of cochlear implant market companies, investment firms, advisory firms & academic institutions.
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Horizon Databook provides a detailed overview of country-level data and insights on the Canada cochlear implant market , including forecasts for subscribers. This country databook contains high-level insights into Canada cochlear implant market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Canada cochlear implant market outlook size, by end use, 2018-2030 (US$M)
Canada Cochlear Implant Market Outlook Share, 2023 & 2030 (US$M)
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