Cochlear implants market to rise by $975.3m by 2028

One key driver includes the ongoing technological advancements during the period.

The global market for cochlear implants is projected to grow by $975.3m at an estimated compound annual growth rate (CAGR) of nearly 9.45%, according to Technavio.

Key drivers of the sector’s expansion include the rising prevalence of hearing loss and ongoing technological advancements.

“These advancements include an increase in the number of electrodes, from eight to 24, leading to clearer sound delivery,” the report said.

New image-guided technologies are also being introduced to enable customised cochlear implant stimulation strategies for improved hearing quality and communication abilities without the need for additional surgeries.

Meanwhile, the market is witnessing a trend towards bilateral fittings, which offer better hearing in both ears. 

Its adoption is particularly notable amongst the elderly population and individuals with hearing loss due to ageing, noise pollution, or ototoxic drugs.