Bionic Ears Market Size To Reach $4.0 Billion By 2030

Bionic Ears Market Growth & Trends

The global bionic ears market size is expected to reach USD 4.0 billion by 2030, expanding at a CAGR of 8.35% from 2023 to 2030, according to a new report by Grand View Research, Inc. The growth of the market is attributed to the factors such as the increasing prevalence of hearing impairment, technological advancements in hearing implants, and a growing geriatric population.

The government of many countries is taking various initiatives to decrease the prevalence of hearing loss. For instance, in the U.S., all newborns are screened for hearing before leaving the hospital. The American Academy of Pediatrics (AAP) recommends hearing tests for all newborns. Furthermore, the Indian government launched Assistance to Disabled Persons for Purchase / Fitting of Aids and Appliances (ADIP) to provide financial assistance to children needing cochlear implantations. Thus, strong government support is propelling the market growth.

Furthermore, increasing awareness and acceptance of hearing devices has contributed to the market growth for bionic ears. Gradually the stigma around hearing disability is narrowing. Hearing loss is now a more common and well-known medical issue due to aging populations and increased exposure to loud noise. Due to this, there is now a higher demand for bionic ears. In addition, the introduction of more sophisticated cochlear implant devices has greatly improved the functionality and performance of bionic ears, resulting in higher acceptance and a broader range of potential users.

The pandemic has led to a decline in demand for bionic ears as a result of reduced patient access to healthcare facilities. Many elective procedures, including cochlear implant surgeries, were postponed or canceled, leading to a decrease in the. Additionally, the economic impact of the pandemic has resulted in reduced healthcare spending, which further contributed to the decline in demand for bionic ears.

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Bionic Ears Market Report Highlights

• On the basis of type, cochlear implant captured the highest market share in 2022. The growth of the segment is attributed to the increasing prevalence of hearing loss and penetration of cochlear implants

• On the basis of end-use, hospitals segment accounted for the major portion of the market in 2022 owing to the growing awareness and acceptance of hearing loss as a health issue, which has resulted in more people seeking out hearing solutions

• Europe dominated the market in 2022. Increased adoption of bionic ears in the region and the presence of key manufacturers are driving market growth

• The market in Asia Pacific is likely to propel owing to the sizeable geriatric population and increasing adoption of cochlear implants in developing countries

Bionic Ears Market Segmentation

Grand View Research has segmented the global bionic ears market based on type, end-use, and region:

Bionic Ears Type Outlook (Revenue, USD Million, 2018 - 2030)

• Cochlear Implant

• Auditory Brainstem Implants

• BAHA/BAHS

Bionic Ears End-use Outlook (Revenue, USD Million, 2018 - 2030)

• Hospitals

• Clinics

• Others

Bionic Ears Regional Outlook (Revenue, USD Million, 2018 - 2030)

• North America

  • U.S.

  • Canada

• Europe

  • U.K.

  • Germany

  • France

  • Italy

  • Spain

  • Denmark

  • Sweden

  • Norway

• Asia Pacific

  • China

  • Japan

  • India

  • Australia

  • South Korea

  • Thailand

• Latin America

  • Brazil

  • Mexico

  • Argentina

• Middle East & Africa (MEA)

  • South Africa

  • Saudi Arabia

  • UAE

  • Kuwait

List of Key Players in the Bionic Ears Market

• Cochlear Ltd.

• MED-EL Medical Electronics

• Sonova

• Demant A/S

• Zhejiang Nurotron Biotechnology Co. Ltd.

• GAES

• Amplifon