India Hearing Aid Devices Market to be dominated by hearing aids through FY2028
A rise in cases of birth complications and ear
infections and the surge in initiatives to raise hearing aid awareness is
expected to drive the demand for the India hearing aid devices market in the
forecast period, FY2024-FY2028.
According to TechSci Research
report, “Hearing Aid Devices Market – India Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028”, the India hearing aid devices market
is anticipated to witness steady growth in the forecast period, FY2024-FY2028.
A hearing aid device is an electronic device that is used by patients suffering
from auditory damage and hearing loss. The market is driven by the rise in the
geriatric population and the growing adoption of smart hearing aids among
hearing-impaired people.
However, patients have a
causal approach to treating hearing problems, and the ignorance by patients to
undergo initial testing may restrain market growth through the next five years.
The India hearing
aid devices market is segmented into type, type of hearing loss , product type,
technology type, patient type, distribution channel, regional distribution, and
competitive landscape.
Based on type,
the market is divided into hearing aids v/s hearing implants. Hearing aids are
expected to dominate the market throughout the forecast period. The changing
preference of consumers toward convenient medical devices and growing
healthcare expenditure of consumers are making the market players invest in
research and development activities. Patients are actively adopting
behind-the-ear devices as they resemble Bluetooth earphones which gives them
more confidence as they are aesthetically appealing. The launch of
invisible-in-the-canal devices and completely in-canal hearing aids in the
market and other advanced hearing aid medical devices to garner customer
attraction is expected to fuel the India hearing aid devices market growth
through the next five years.
Browse over XX market data Figures spread through 70 Pages and an in-depth TOC on "India Hearing Aid Devices Market"
Based on the type
of hearing loss, the market is divided into sensorineural v/s conductive. The
sensorineural hearing loss segment is expected to account for significant
market share over the forecast period. The growing old-age population in the
country who are at higher risk of hearing losses are expected to boost the
segment demand.
Based on product
type, the market is divided into wired v/s wireless. Wireless hearing aids are
expected to witness the fastest incremental growth in the next five years as
they are more comfortable and give the flexibility to the patient to move
freely. They can connect easily and quickly and are generally equipped with
directional microphones. Wireless hearing aids can be personalized according to
patient needs which makes them more desirable among patients.
Based on patient
type, the market is divided into adult and pediatric. The adult segment is
expected to hold the largest market share in the forecast period due to the
rise in awareness about the benefits of using hearing aid devices. Old age
people form a major part of the population, and they are at higher risk of
getting affected by hearing disorders. The high demand from the geriatric
population for advanced hearing aid devices is expected to accelerate the
demand for the India hearing aid devices market over the next five years.
Based on the
distribution channel, the market is divided into online v/s offline. The
offline segment is projected to capture the highest market share in the
forecast period. Offline distribution channel includes hospital pharmacies,
retail pharmacies, over the counter (OTC), among others. The surge in
penetration of hearing implants and the massive preference of consumers to
visit hospital facilities to seek medical treatment is driving the segment
demand.
Major market
players operating in the India hearing aid devices market are:
·
Amplifon
India Pvt. Ltd.
·
Starkey
Hearing Technologies
·
Sonova
Hearing India Pvt Ltd
·
Siemens
India
·
WS
Audiology (Widex)
·
Oticon
- Otic Hearing Solutions Pvt.Ltd.
·
Cochlear
Limited India
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“Due to the growing hearing
disorders prevalence and increased per capita income of patients, the market
players are working on research and development activities to advance hearing
aids. Integration of innovative technologies and the emergence of digital
platforms in the mini device are helping the patients to hear more clearly. The
introduction of digital hearing aid devices in the market supporting smartphone
compatibility, rechargeable batteries, high sound processing ability, Bluetooth
connectivity, and artificial intelligence are expected to accelerate the India
hearing aid devices market growth till FY2028” said Mr. Karan Chechi, Research
Director with TechSci Research, a research-based global management consulting
firm.
“India Hearing Aid
Devices Market By Type (Hearing Aids v/s Hearing Implants), By Type of Hearing
Loss (Sensorineural v/s Conductive), By Product Type (Wired v/s Wireless), By
Technology Type (Digital v/s Analog), By Patient Type (Adult v/s Pediatric), By
Distribution Channel (Online v/s Offline), By Region, Competition Forecast
& Opportunities, 2028”, has evaluated the future
growth potential of India hearing aid devices market and provides statistics
& information on market size, structure and future market growth. The
report intends to provide cutting-edge market intelligence and help decision
makers take sound investment decisions. Besides, the report also identifies and
analyzes the emerging trends along with essential drivers, challenges, and
opportunities in India hearing aid devices market.
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