India Hearing Impairment Market
The growing personal disposable income, increasing consumer and government spending on healthcare to drive the hearing devices market in India.
New Delhi (I-Newswire) January 3, 2014 - The industry research publication titled 'India Hearing Impairment Market Outlook to 2018 - Upsurging Demand for Hearing Care Devices' presents a comprehensive analysis of market size by value and volume of hearing aids, hearing implants and hearing diagnostic equipments in India. The report entails the market share analysis and competitive landscape of major players in the Indian market. The future analysis and segmentation by type of hearing aid, hearing implant, hearing diagnostic equipment, and organizational structure of the industry have also been discussed in each of the sub-markets.
The hearing devices market in the country is experiencing gradual transition due to the growth in the Indian population compiled with the masses who are suffering from hearing impairment. It has been cited that out of the total population of more than 1.2 billion, around 65.5 million people in India suffer from hearing impairment. The incidence of hearing loss will continue in the times to come due to rapid urbanization and the accompanying noise pollution. With strong economic development and the subsequent increase in per capita income, the Indian population is increasingly being able to afford healthcare services. The Government of India is also engaged in upgrading the healthcare infrastructure in the country in order to meet the growing need for diagnosis and treatment of hearing disorders amongst the masses.
Hearing aids and hearing implants, the two available treatments for dealing with hearing impairment, are gaining popularity in the Indian hearing impaired population due to the rising literacy level and awareness related to hearing care. However, the high cost of both hearing aids and implants is the primary reason inhibiting the growth of the two in India. Nonetheless, the growing affluence of the population is making hearing aids and implants more accessible to the hearing deficient people in India. Since people are now increasingly able to afford diagnosis, India is emerging as a promising market for hearing care devices.
Hearing care technology is mainly imported since the major companies operating in the industry are foreign based. Due to this, there arises a disparity between the market size on the basis of prices at which the products are imported and the end user price.
The hearing aids market size on the basis of import price has been growing at a CAGR of ~% during FY'2008-FY'2013 from INR ~ million in FY'2008 to INR ~ million in FY'2013. The fully programmable digital hearing aids are the most popular segment in terms of hearing aid technology, and registered the highest CAGR during FY'2008-FY'2013 as compared to pocket analog and trimmer digital hearing aids. In terms of style of hearing aid, Behind The Ear (BTE) are the most widely used in India. The major foreign companies supplying hearing aids in India are Siemens, Widex, Starkey, Phonak, and GN ReSound. The main Indian players include Alps International, Arphi, and Elkon.
The hearing implants market in India is witnessing strong growth and was estimated to be worth INR ~ million in FY'2013, growing at a CAGR of 20% during the period FY'2008-FY'2013. Even though the exorbitant cost of getting a hearing implantation in India restricts the growth of the market, people are realizing that implants are a long term investment as a remedy to hearing loss. Amongst the type of hearing implants available in India, Cochlear implants are the most widely used implantable device, totaling to ~ implants done in FY'2013, thus accounting for a share of ~% in the Indian market. Since hearing implants are donated by the government and certain NGO's to the rural population, rural India accounted for the major share of implantations done in FY'2013. MED-EL, Cochlear Ltd., and Advanced Bionics are the major players in the hearing implants market in India that solely command ~% of the market.
The hearing diagnostic equipments market in India is growing with to the large unmet need of diagnosis of the hearing impaired population. In terms of volume, a total of ~ hearing diagnostic equipments were sold in India in FY'2013. The market grew at a CAGR of 15.2% during FY'2008-FY'2013, from ~ units in FY'2008 to ~ unit sales in FY'2013. The market is majorly captured by audiometers, followed by tympanometers, Otoacoustic Emission (OAE) Systems, and Auditory Brainstem Response (ABR Systems. The major companies in the diagnostic equipments market are Maico, Interacoustics, Grason Stadler Inclusive and GN Otometrics.
The market size of the hearing devices market in India is projected to grow significantly because of an increase in the number of hearing impaired people, rising awareness, education among the urban as well as rural segment of the population and increase in percentage of replacement purchases. The volume of hearing aids sold in India is projected to reach ~ thousand units in FY'2018 from ~ thousand units in FY'2013, registering a CAGR of 18.6% during the period. The hearing implants market is being developed through constant R&D efforts being made to come up with cheaper implants and consequently increasing the market size in terms of volume. It is projected that the hearing implants market in India will grow at a CAGR of 14% from FY'2014-FY'2018, reaching INR ~ million in FY'2018 from INR ~ million in FY'2013. The government of India is planning compulsory diagnosis of hearing for new born infants. This is expected to boost the sales of diagnostic equipments in India. The market is projected to grow exponentially in terms of volume, reaching to the sale of ~ equipments in FY'2018 from ~ in FY'2013, registering a CAGR of 16% during the period.
Key Topics Covered in the Report:
The market size of the hearing aids, hearing implants, and hearing diagnostic equipment market in terms of value and volume
Hearing aids market segmentation by technology and style of hearing aid, age wise and region wise consumption pattern and organizational structure of the market
Hearing implants market segmentation by type of implants, and age wise and region wise consumption
Hearing diagnostic equipments market segmentation by type of equipments
Average selling price of hearing aids, implants and equipments in India
Trends and Developments in the hearing aids and implants market in India
Government support and regulations in hearing aids market in India
Market share analysis in Hearing aids, pocket analog hearing aids, digital trimmer hearing aids, digital programmable hearing aids, hearing implants, Cochlear implant, Bone conduction implants, middle ear implants, Electric Acoustic Stimulation (hybrid implants), hearing diagnostic equipments, Audiometers, tympanometers, Otoacoustic Emission (OAE) systems and Auditory Brainstem Response (ABR) systems
Competitive landscape of the major players operating in hearing aids, implants and equipments market in India
Future projections and macro economic factors of India Hearing Impairment Market
For More Details Please Click On Following Link:
Contact Person: Ankur Gupta
Designation: Head-Marketing & Communication
Contact: 01147017199, +91 9015378249
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Published On:January 3, 2014
Print Release:Print Release
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