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India Hearing Aids Market, By Type (In the Ear Hearing Aids (ITE), In the Canal (ITC), Completely in the Canal (CIC), Behind the Ear (BTE), Receiver in Canal (RIC)): By Application (Congenital, Hearing Loss in Elderly, Acquired Trauma); By Region (North India, South India, East India, West India), Trend Analysis, Competitive Landscape & Forecast, 2019–2030
- Published Date: April 2024
- Report ID: BWC24261
- Available Format: PDF
- Page: 200
Report Overview
The rising prevalence of hearing loss, growing awareness and reduced stigma in using hearing aids, and growing demand for invisible and discreet hearing aids are expected to drive the India Hearing Aids Market during the forecast period between 2024 and 2030.
India Hearing Aids Market – Industry Trends & Forecast Report, 2030
India Hearing Aids Market size was estimated at USD 4.23 billion in 2023. During the forecast period between 2024 and 2030, the India Hearing Aids Market size is projected to grow at a CAGR of 7.89% reaching a value of USD 7.18 billion by 2030. Prominent drivers of the market are the rising incidence of hearing loss disorders, favorable government policies, and significant investments from both public and private sectors. Also, the integration of digital or smart technologies into these devices and advancements in their technology by market players are anticipated to unlock several growth opportunities in the coming years. It indicates a promising trajectory for the India Hearing Aids Market, with innovations and supportive factors driving its expansion during the period in analysis.
Hearing Aids – Overview
A hearing aid is a small electronic device designed to improve hearing for individuals with hearing loss. It consists of a microphone to pick up sound, an amplifier to increase the volume of sound, and a speaker to deliver the amplified sound into the ear. Modern hearing aids may also include advanced features, such as noise reduction, directional microphones, Bluetooth connectivity and customizable settings to suit the user's specific hearing needs. Hearing aids are typically worn either behind the ear or in the ear canal and can greatly enhance the wearer's ability to hear and communicate effectively in various environments.
India Hearing Aids Market
Growth Drivers
Rising Prevalence of Hearing Loss
Hearing loss stands as a prevalent sensory deficit globally, notably in India, where 6.3% of the population, approximately 63 million people, endure Significant Auditory Impairment. NSSO surveys indicate 291 individuals per 100,000 encounter mild to severe hearing problems. Children aged 0 to 14 constitute a significant portion of this demographic. The repercussions extend beyond personal challenges, affecting productivity and the economy. Consequently, the demand for advanced and cost-effective hearing aid devices is escalating. Over the next five years, this trend is anticipated to drive substantial growth in the market, as individuals with hearing impairments seek assistance for everyday functioning.
Growing Demand for Invisible and Discreet Hearing Aids
The escalating demand for nearly invisible and discreet hearing aids is propelled by their custom-fitted design, particularly the Invisible-in-Canal (IIC) or Completely-in-Canal (CIC) devices, which seamlessly nestle within the ear canal, rendering them virtually imperceptible. These aids prioritize comfort and confidence for users without compromising on delivering clear and natural sound. Market offerings include various styles catering to diverse needs and preferences, such as custom-made CICs, readymade CICs, and In-The-Ear (ITE) devices. Despite differences in visibility and features, these aids collectively provide discreet solutions for mild to moderate hearing loss, offering benefits like comfort, natural sound quality, and versatility. With the advent of rechargeable options and advancements in technology, invisible hearing aids are becoming increasingly durable and user-friendly, presenting a compelling solution for individuals seeking discreet auditory enhancement.
Growing Awareness and Reduced Stigma
The concerted efforts of the Indian government under the National Program for the Prevention & Control of Deafness (NPPCD) have significantly contributed to raising awareness and reducing stigma surrounding hearing impairment. Through initiatives focused on manpower training, capacity building, and service provision, the program aims to prevent, identify, and manage hearing impairment cases effectively. Additionally, schemes like the 'Rashtriya Vayoshri Yojana' have played a crucial role in providing free assistive devices like hearing aids to senior citizens living below the poverty line. This growing awareness and support from the government are expected to catalyze the growth of the India Hearing Aids Market in the coming years, ensuring accessibility and acceptance of hearing aid solutions across the population.
Challenges
High Cost of Hearing Aids
The high cost of hearing aids presents a significant obstacle to the growth of the India Hearing Aids Market. A large number of individuals, especially those from lower-income segments, find it challenging to afford these devices. As a result, the market expansion is hindered, limiting access to essential auditory solutions for a considerable portion of the population. Efforts to address affordability issues through government subsidies or initiatives by manufacturers to offer more affordable options could help alleviate this constraint and stimulate market growth.
Impact of Escalating Geopolitical Tensions on India Hearing Aids Market
Geopolitical tensions can have a multifaceted impact on the India Hearing Aids Market. Uncertainties and instability may disrupt supply chains, leading to shortages or increased costs of components. Additionally, heightened geopolitical risks can deter foreign investments and collaborations, hindering technological advancements and market growth. Instability may also affect consumer confidence, potentially reducing demand for hearing aids. Moreover, fluctuations in currency exchange rates due to geopolitical tensions can influence pricing dynamics, impacting affordability and accessibility of hearing devices for Indian consumers. Overall, navigating these challenges requires resilient strategies to mitigate risks and sustain growth in the hearing aids market amid geopolitical uncertainties.
India Hearing Aids Market
Segmental Coverage
India Hearing Aids Market – By Type
By type, the India Hearing Aids Market is divided into In the Ear Hearing Aids (ITE), In the Canal (ITC), Completely in the Canal (CIC), Behind the Ear (BTE), and Receiver in Canal (RIC) segments. The BTE segment holds the highest share in the India Hearing Aids Market by type. BTE hearing aids are renowned for their user-friendliness and ease of maintenance. They are readily accessible across various healthcare channels in India, catering to diverse budgetary needs. The increasing awareness campaigns regarding hearing health, supported by healthcare professionals and organizations, have fostered a widespread acceptance of BTE hearing aids among the Indian populace. Notably, BTE devices are favored for children with hearing impairments due to their ability to adapt to growing ears. Their design permits adjustments and refitting as children mature, making them a preferred choice in pediatric audiology within the Indian market.
India Hearing Aids Market – By Application
Based on application, the India Hearing Aids Market is divided into Congenital, Hearing Loss in Elderly and Acquired Trauma segments.
India Hearing Aids Market – By Region
Geographically, the India Hearing Aids Market is divided into North India, South India, East India, and West India regions.
Competitive Landscape
Major players operating in India Hearing Aids Market include Phonak, Oticon, Signia (Siemens), Widex, Resound, Unitron, Starkey, Bernafon, Beltone, and Rexton. To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.
Recent Developments
-
In February 2024 - AIISH Mysuru formed a collaboration with Frauscher Sensor Technology India Pvt Ltd to distribute high-gain digital hearing aids to underprivileged families as part of World Hearing Day initiatives. The aids aim to facilitate communication and inclusion for those with hearing impairment. Frauscher sponsors the aids. The event underscores the significance of early intervention in addressing hearing health issues.
-
In February 2024 - Starkey launched Genesis AI hearing aids in India.
-
In April 2023 - Softone, based in Surat, introduced 'Re-Hear,' India's first advanced hearing aid with multifunctionality. The accompanying app enables self-configuration, reducing dependence on audiologists.
Scope of the Report
|
Attributes |
Details |
|
Years Considered |
Historical Data – 2019–2030 |
|
Base Year – 2023 |
|
|
Estimated Year – 2024 |
|
|
Forecast Period – 2024–2030 |
|
|
Facts Covered |
USD Billion |
|
Market Coverage |
India |
|
Product/ Service Segmentation |
Type, Application, Region |
|
Key Players |
Phonak, Oticon, Signia (Siemens), Widex, Resound, Unitron, Starkey, Bernafon, Beltone, Rexton |
By Type
-
In the Ear Hearing Aids (ITE)
-
In the Canal (ITC)
-
Completely in the Canal (CIC)
-
Behind the Ear (BTE)
-
Receiver in Canal (RIC)
By Application
-
Congenital
-
Hearing Loss in Elderly
-
Acquired Trauma
By Region
-
North India
-
South India
-
East India
-
West India
- Research Framework
- Research Objective
- Product Overview
- Market Segmentation
- Executive Summary
- India Hearing Aids Device Market Insights
- Industry Value Chain Analysis
- DROC Analysis
- Growth Drivers
- Rising prevalence of hearing loss
- Growing awareness and reduced stigma
- Growing demand for invisible and discreet hearing aids
- Restraints
- High cost of hearing aids
- Limited insurance coverage
- Opportunities
- Rising disposable incomes in developing economies
- Advancements in technology
- Challenges
- Maintenance and battery life
- Limited availability of qualified professionals
- Growth Drivers
- Technological Advancements/Recent Developments
- Regulatory Framework
- Porter’s Five Forces Analysis
- Bargaining Power of Suppliers
- Bargaining Power of Buyers
- Threat of New Entrants
- Threat of Substitutes
- Intensity of Rivalry
- India Hearing Aids Device Market: Marketing Strategies
- India Hearing Aids Device Market: Pricing Analysis
- India Hearing Aids Device Market Overview
- Market Size & Forecast, 2019–2030
- By Value (USD Million)
- By Volume (Thousand Units)
- Market Share & Forecast
- By Type
- In the Ear Hearing Aids (ITE)
- In the Canal (ITC)
- Completely in the Canal (CIC)
- Behind the Ear (BTE)
- Receiver in Canal (RIC)
- By Application
- Congenital
- Hearing Loss in Elderly
- Acquired Trauma
- By Region
- North India
- South India
- East India
- West India
- By Type
- Market Size & Forecast, 2019–2030
- North India Hearing Aids Device Market
- Market Size & Forecast, 2019–2030
- By Value (USD Million)
- By Volume (Thousand Units)
- Market Share & Forecast
- By Product
- By Application
- Market Size & Forecast, 2019–2030
- South India Hearing Aids Device Market
- Market Size & Forecast, 2019–2030
- By Value (USD Million)
- By Volume (Thousand Units)
- Market Share & Forecast
- By Product
- By Application
- Market Size & Forecast, 2019–2030
- East India Hearing Aids Device Market
- Market Size & Forecast, 2019–2030
- By Value (USD Million)
- By Volume (Thousand Units)
- Market Share & Forecast
- By Product
- By Application
- Market Size & Forecast, 2019–2030
- West India Hearing Aids Device Market
- Market Size & Forecast, 2019–2030
- By Value (USD Million)
- By Volume (Thousand Units)
- Market Share & Forecast
- By Product
- By Application
- Market Size & Forecast, 2019–2030
- Competitive Landscape
- List of Key Players and Their Offerings
- India Hearing Aids Device Market Company Market Share Analysis, 2023
- Competitive Benchmarking, By Operating Parameters
- Key Strategic Developments (Mergers, Acquisitions, Partnerships, etc.)
- Impact of Escalating Geopolitical Tensions on India Hearing Aids Device Market
- Company Profiles (Company Overview, Financial Matrix, Competitive Landscape, Key Personnel, Key Competitors, Contact Address, Strategic Outlook, and SWOT Analysis)
- Phonak
- Oticon
- Signia (Siemens)
- Widex
- Resound
- Unitron
- Starkey
- Bernafon
- Beltone
- Rexton
- Other Prominent Players
- Key Strategic Recommendations
- Research Methodology
- Qualitative Research
- Primary & Secondary Research
- Quantitative Research
- Market Breakdown & Data Triangulation
- Secondary Research
- Primary Research
- Breakdown of Primary Research Respondents, By Country
- Assumptions & Limitations
- Qualitative Research
*Financial information of non-listed companies can be provided as per availability.
**The segmentation and the companies are subject to modifications based on in-depth secondary research for the final deliverable
List of Figures
Figure 1 India Hearing Aids Device Market Segmentation
Figure 2 India Hearing Aids Device Market Value Chain Analysis
Figure 3 Company Market Share Analysis, 2023
Figure 4 India Hearing Aids Device Market Size, By Value (USD Million), 2019–2030
Figure 5 India Hearing Aids Device Market Size, By Volume (Thousand Units), 2019–2030
Figure 6 India Hearing Aids Device Market Share, By Product, By Value, 2019–2030
Figure 7 India Hearing Aids Device Market Share, By Product, By Volume, 2019–2030
Figure 8 India Hearing Aids Device Market Share, By Application, By Value, 2019–2030
Figure 9 India Hearing Aids Device Market Share, By Application, By Volume, 2019–2030
Figure 10 India Hearing Aids Device Market Share, By Region, By Value, 2019–2030
Figure 11 India Hearing Aids Device Market Share, By Region, By Volume, 2019–2030
Figure 12 North India Hearing Aids Device Market Size, By Value (USD Million), 2019–2030
Figure 13 North India Hearing Aids Device Market Size, By Value (Thousand Units), 2019–2030
Figure 14 North India Hearing Aids Device Market Share, By Product, By Value, 2019–2030
Figure 15 North India Hearing Aids Device Market Share, By Product, By Volume, 2019–2030
Figure 16 North India Hearing Aids Device Market Share, By Application, By Value, 2019–2030
Figure 17 North India Hearing Aids Device Market Share, By Application, By Volume, 2019–2030
Figure 18 South India Hearing Aids Device Market Size, By Value (USD Million), 2019–2030
Figure 19 South India Hearing Aids Device Market Size, By Volume (Thousand Units), 2019–2030
Figure 20 South India Hearing Aids Device Market Share, By Product, By Value, 2019–2030
Figure 21 South India Hearing Aids Device Market Share, By Product, By Volume, 2019–2030
Figure 22 South India Hearing Aids Device Market Share, By Application, By Value, 2019–2030
Figure 23 South India Hearing Aids Device Market Share, By Application, By Volume, 2019–2030
Figure 24 East India Hearing Aids Device Market Size, By Value (USD Million), 2019–2030
Figure 25 East India Hearing Aids Device Market Size, By Volume (Thousand Units), 2019–2030
Figure 26 East India Hearing Aids Device Market Share, By Product, By Value, 2019–2030
Figure 27 East India Hearing Aids Device Market Share, By Product, By Volume, 2019–2030
Figure 28 East India Hearing Aids Device Market Share, By Application, By Value, 2019–2030
Figure 29 East India Hearing Aids Device Market Share, By Application, By Volume, 2019–2030
Figure 30 West India Hearing Aids Device Market Size, By Value (USD Million), 2019–2030
Figure 31 West India Hearing Aids Device Market Size, By Volume (Thousand Units), 2019–2030
Figure 32 West India Hearing Aids Device Market Share, By Product, By Value, 2019–2030
Figure 33 West India Hearing Aids Device Market Share, By Product, By Volume, 2019–2030
Figure 34 West India Hearing Aids Device Market Share, By Application, By Value, 2019–2030
Figure 35 West India Hearing Aids Device Market Share, By Application, By Volume, 2019–2030
List of Tables
Table 1 India Hearing Aids Device Market Size, By Value (USD Million), 2019–2030
Table 2 India Hearing Aids Device Market Size, By Volume (Thousand Units), 2019–2030
Table 3 India Hearing Aids Device Market Size, By Product, By Value, 2019–2030
Table 4 India Hearing Aids Device Market Size, By Product, By Volume, 2019–2030
Table 5 India Hearing Aids Device Market Size, By Application, By Value, 2019–2030
Table 6 India Hearing Aids Device Market Size, By Application, By Volume, 2019–2030
Table 7 India Hearing Aids Device Market Size, By Region, By Value, 2019–2030
Table 8 India Hearing Aids Device Market Size, By Region, By Volume, 2019–2030
Table 9 North India Hearing Aids Device Market Size, By Value (USD Million), 2019–2030
Table 10 North India Hearing Aids Device Market Size, By Value (Thousand Units), 2019–2030
Table 11 North India Hearing Aids Device Market Size, By Product, By Value, 2019–2030
Table 12 North India Hearing Aids Device Market Size, By Product, By Volume, 2019–2030
Table 13 North India Hearing Aids Device Market Size, By Application, By Value, 2019–2030
Table 14 North India Hearing Aids Device Market Size, By Application, By Volume, 2019–2030
Table 15 South India Hearing Aids Device Market Size, By Value (USD Million), 2019–2030
Table 16 South India Hearing Aids Device Market Size, By Volume (Thousand Units), 2019–2030
Table 17 South India Hearing Aids Device Market Size, By Product, By Value, 2019–2030
Table 18 South India Hearing Aids Device Market Size, By Product, By Volume, 2019–2030
Table 19 South India Hearing Aids Device Market Size, By Application, By Value, 2019–2030
Table 20 South India Hearing Aids Device Market Size, By Application, By Volume, 2019–2030
Table 21 East India Hearing Aids Device Market Size, By Value (USD Million), 2019–2030
Table 22 East India Hearing Aids Device Market Size, By Volume (Thousand Units), 2019–2030
Table 23 East India Hearing Aids Device Market Size, By Product, By Value, 2019–2030
Table 24 East India Hearing Aids Device Market Size, By Product, By Volume, 2019–2030
Table 25 East India Hearing Aids Device Market Size, By Application, By Value, 2019–2030
Table 26 East India Hearing Aids Device Market Size, By Application, By Volume, 2019–2030
Table 27 West India Hearing Aids Device Market Size, By Value (USD Million), 2019–2030
Table 28 West India Hearing Aids Device Market Size, By Volume (Thousand Units), 2019–2030
Table 29 West India Hearing Aids Device Market Size, By Product, By Value, 2019–2030
Table 30 West India Hearing Aids Device Market Size, By Product, By Volume, 2019–2030
Table 31 West India Hearing Aids Device Market Size, By Application, By Value, 2019–2030
Table 32 West India Hearing Aids Device Market Size, By Application, By Volume, 2019–2030
Table 33 Phonak Company Overview
Table 34 Phonak Financial Overview
Table 35 Oticon Company Overview
Table 36 Oticon Financial Overview
Table 37 Signia (Siemens) Company Overview
Table 38 Signia (Siemens) Financial Overview
Table 39 Widex Company Overview
Table 40 Widex Financial Overview
Table 41 Resound Company Overview
Table 42 Resound Financial Overview
Table 43 Unitron Company Overview
Table 44 Unitron Financial Overview
Table 45 Starkey Company Overview
Table 46 Starkey Financial Overview
Table 47 Bernafon Company Overview
Table 48 Bernafon Financial Overview
Table 49 Beltone Company Overview
Table 50 Beltone Financial Overview
Table 51 Rexton Company Overview
Table 52 Rexton Financial Overview
Market Segmentation
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