India Over-the-counter (otc) Hearing Aids Market Size & Outlook
India over-the-counter (otc) hearing aids market, 2018-2030 (US$M)
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India over-the-counter (otc) hearing aids market highlights
- The India over-the-counter (otc) hearing aids market generated a revenue of USD 36.2 million in 2023 and is expected to reach USD 61.9 million by 2030.
- The India market is expected to grow at a CAGR of 8% from 2024 to 2030.
- In terms of segment, canal hearing aids was the largest revenue generating product in 2023.
- Behind-the-Ear Hearing Aids is the most lucrative product segment registering the fastest growth during the forecast period.
Over-the-counter (otc) hearing aids market data book summary
| Market revenue in 2023 | USD 36.2 million |
| Market revenue in 2030 | USD 61.9 million |
| Growth rate | 8% (CAGR from 2023 to 2030) |
| Largest segment | Canal hearing aids |
| Fastest growing segment | Behind-the-Ear Hearing Aids |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | In-the-Ear Hearing Aids, Receiver-in-the-Ear Hearing Aids, Behind-the-Ear Hearing Aids, Canal Hearing Aids |
| Key market players worldwide | PatientPop, GN Store Nord A/S, Sony Group Corp, Audicus, Lexie Hearing |
Other key industry trends
- In terms of revenue, India accounted for 3.3% of the global over-the-counter (otc) hearing aids market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, Japan over-the-counter (otc) hearing aids market is projected to lead the regional market in terms of revenue in 2030.
- China is the fastest growing regional market in Asia Pacific and is projected to reach USD 82.1 million by 2030.
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Over-The-Counter (OTC) Hearing Aids Market Scope
Over-The-Counter (OTC) Hearing Aids Market Companies
| Name | Profile | # Employees | HQ | Website |
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India over-the-counter (otc) hearing aids market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to over-the-counter (otc) hearing aids market will help companies and investors design strategic landscapes.
Canal hearing aids was the largest segment with a revenue share of 32.87% in 2023. Horizon Databook has segmented the India over-the-counter (otc) hearing aids market based on in-the-ear hearing aids, receiver-in-the-ear hearing aids, behind-the-ear hearing aids, canal hearing aids covering the revenue growth of each sub-segment from 2018 to 2030.
The OTC hearing aid market in India is at a nascent stage. The large number of people suffering from hearing impairment is one of the major factors contributing to market growth. Nearly 30% of people with hearing loss had light hearing loss, 13% had moderate hearing loss, 52% had severe hearing loss, and 5% had profound hearing loss.
Bilateral hearing loss affected 68.9% of the population and unilateral hearing loss affected 31.1%. With the process of rapid urbanization and industrialization associated with noise pollution, the market for hearing aids is expected to grow at a faster rate. India is a developing economy with increasing disposable income which results in easy affordability of hearing aids.
In addition, the government is continuously putting more effort into improving the healthcare infrastructure of the country to provide improved diagnostics and hearing disorder treatments. The rising awareness among the population, along with the increase in literacy rate positively drives the market for hearing aids in the country.
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Our clientele includes a mix of over-the-counter (otc) hearing aids market companies, investment firms, advisory firms & academic institutions.
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30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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Horizon Databook provides a detailed overview of country-level data and insights on the India over-the-counter (otc) hearing aids market, including forecasts for subscribers. This country databook contains high-level insights into India over-the-counter (otc) hearing aids market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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India over-the-counter (otc) hearing aids market size, by product, 2018-2030 (US$M)
India Over-The-Counter (OTC) Hearing Aids Market Share, 2023 & 2030 (US$M)
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