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.
Browse over XX market data Figures spread through70 Pages and an in-depth TOC on “India Hearing Aid Devices Market”
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.
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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