Latin America Cochlear Implant Market Size & Outlook
Latin America cochlear implant market, 2018-2030 (US$M)
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Latin America cochlear implant market highlights
- The Latin America cochlear implant market generated a revenue of USD 96.1 million in 2023.
- The market is expected to grow at a CAGR of 9.2% 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.
- Country-wise, Mexico is expected to register the highest CAGR from 2024 to 2030.
Latin America data book summary
| Market revenue in 2023 | USD 96.1 million |
| Market revenue in 2030 | USD 177.3 million |
| Growth rate | 9.2% (CAGR from 2023 to 2030) |
| Largest segment | Outpatient facilities |
| Fastest growing segment | OUTPATIENT FACILITIES |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 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, Latin America region accounted for 5.7% of the global cochlear implant market in 2023.
- Globally, Europe is projected to lead the regional market in terms of revenue in 2030.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 658.3 million by 2030.
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Cochlear Implant Market Scope
Cochlear Implant Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
Latin America 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 88.14% in 2023. Horizon Databook has segmented the Latin America cochlear implant market based on hospitals, outpatient facilities covering the revenue growth of each sub-segment from 2018 to 2030.
One of the major factors contributing to the growth of Latin America's cochlear implant market is the growing elderly population. According to WHO, in 2021, around 217 million individuals in Latin America and the Caribbean suffer from hearing loss, which is expected to increase to 332 million by 2050.
The poor adoption of cochlear implants in Latin America is attributed to the low awareness of these devices. An increase in government initiatives undertaken to diagnose people with hearing loss, a rise in the elderly population, an increase in government reimbursement plans, and a rise in the need for technologically advanced devices are anticipated to drive the market in Latin America.
Public healthcare policies help fulfill the need for diagnosis & treatment and manage used cochlear implant equipment donations. The countries with the highest number of implants are Argentina, Brazil, Colombia, Mexico, and Venezuela.
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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 continent-level data and insights on the Latin America cochlear implant market , including forecasts for subscribers. This continent databook contains high-level insights into Latin America cochlear implant market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Latin America cochlear implant market outlook size, by country, 2018-2030 (US$M)
Latin America Cochlear Implant Market Outlook Share, 2023 & 2030 (US$M)
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