Cochlear implants market to be valued at $4.73b by 2030

Thanks to a rising prevalence of hearing loss and awareness of rehabilitation options.

The cochlear implants market is projected to hit $4.73b by 2030 at a compound annual growth rate of 9.2%, according to MarketsandMarkets.

The sector’s expansion is attributed to a rising prevalence of hearing loss, particularly amongst the geriatric population, and the increasing awareness of hearing rehabilitation options.

Amongst end-user types, the ‘hospitals’ segment is expected to experience the fastest growth during the forecast period

“Hospitals are increasingly becoming the preferred choice due to their ability to handle complex surgical procedures and provide post-operative care, including audiological support and rehabilitation services,” the report said.