Report Overview

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.

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

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

1. Research Framework
   1. Research Objective
   2. Product Overview
   3. Market Segmentation
2. Executive Summary
3. India Hearing Aids Device Market Insights
   1. Industry Value Chain Analysis
   2. DROC Analysis
      1. Growth Drivers
         1. Rising prevalence of hearing loss
         2. Growing awareness and reduced stigma
         3. Growing demand for invisible and discreet hearing aids
      2. Restraints
         1. High cost of hearing aids
         2. Limited insurance coverage
      3. Opportunities
         1. Rising disposable incomes in developing economies
         2. Advancements in technology
      4. Challenges
         1. Maintenance and battery life
         2. Limited availability of qualified professionals
   3. Technological Advancements/Recent Developments
   4. Regulatory Framework
   5. Porter’s Five Forces Analysis
      1. Bargaining Power of Suppliers
      2. Bargaining Power of Buyers
      3. Threat of New Entrants
      4. Threat of Substitutes
      5. Intensity of Rivalry
4. India Hearing Aids Device Market: Marketing Strategies
5. India Hearing Aids Device Market: Pricing Analysis
6. India Hearing Aids Device Market Overview
   1. Market Size & Forecast, 2019–2030
      1. By Value (USD Million)
      2. By Volume (Thousand Units)
   2. Market Share & Forecast
      1. By Type
         1. In the Ear Hearing Aids (ITE)
         2. In the Canal (ITC)
         3. Completely in the Canal (CIC)
         4. Behind the Ear (BTE)
         5. Receiver in Canal (RIC)
      2. By Application
         1. Congenital
         2. Hearing Loss in Elderly
         3. Acquired Trauma
      3. By Region
         1. North India
         2. South India
         3. East India
         4. West India
7. North India Hearing Aids Device Market
   1. Market Size & Forecast, 2019–2030
      1. By Value (USD Million)
      2. By Volume (Thousand Units)
   2. Market Share & Forecast
      1. By Product
      2. By Application
8. South India Hearing Aids Device Market
   1. Market Size & Forecast, 2019–2030
      1. By Value (USD Million)
      2. By Volume (Thousand Units)
   2. Market Share & Forecast
      1. By Product
      2. By Application
9. East India Hearing Aids Device Market
   1. Market Size & Forecast, 2019–2030
      1. By Value (USD Million)
      2. By Volume (Thousand Units)
   2. Market Share & Forecast
      1. By Product
      2. By Application
10. West India Hearing Aids Device Market
    1. Market Size & Forecast, 2019–2030
       1. By Value (USD Million)
       2. By Volume (Thousand Units)
    2. Market Share & Forecast
       1. By Product
       2. By Application
11. Competitive Landscape
    1. List of Key Players and Their Offerings
    2. India Hearing Aids Device Market Company Market Share Analysis, 2023
    3. Competitive Benchmarking, By Operating Parameters
    4. Key Strategic Developments (Mergers, Acquisitions, Partnerships, etc.)
12. Impact of Escalating Geopolitical Tensions on India Hearing Aids Device Market
13. Company Profiles (Company Overview, Financial Matrix, Competitive Landscape, Key Personnel, Key Competitors, Contact Address, Strategic Outlook, and SWOT Analysis)
    1. Phonak
    2. Oticon
    3. Signia (Siemens)
    4. Widex
    5. Resound
    6. Unitron
    7. Starkey
    8. Bernafon
    9. Beltone
    10. Rexton
    11. Other Prominent Players
14. Key Strategic Recommendations
15. Research Methodology
    1.    Qualitative Research
       1.  Primary & Secondary Research
    2.    Quantitative Research
    3.    Market Breakdown & Data Triangulation
       1.  Secondary Research
       2.  Primary Research
    4.    Breakdown of Primary Research Respondents, By Country
    5.    Assumptions & Limitations

*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