October 2020

Report Published by research nester report titled “Bone Conduction Hearing Devices Market: Global Demand Analysis & Opportunity Outlook 2027” delivers the detailed overview of the global bone conduction hearing devices market in terms of market segmentation by device, by application, by end-user and by region.

Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.

The global bone conduction hearing devices market can be segmented on the basis of device type, application, end-user and region. On the basis of device type, it is sub-segmented into bone anchored hearing aids and traditional bone conduction hearing aids. The bone anchored hearing aids is anticipated to be the largest sub-segment for the global bone conduction hearing devices market. The low-cost of the bone anchored hearing aids coupled with the low chance of infections caused by bone anchored hearing aids is anticipated to be the primary reason for the sub-segment to lead the segment.

On the basis of application, it is sub-segmented into mitigation of stuttering, hearing rehabilitation, audiometric investigations, language development approaches and communication systems. On the basis of end-user, it is sub-segmented into ambulatory surgical centers, hospitals and ENT clinics. Hospitals sub-segment is anticipated to lead the end-user segment. The presence of expert healthcare professionals coupled with availability of advanced technology for the treatment of the ear diseases is anticipated to propel the growth of the sub-segment during the forecast period.

The global bone conduction hearing devices market is anticipated to expand at a CAGR around 16.0% during 2018-2027. The increasing cases of loss of hearing across the globe are anticipated to be the major factor for the growth of the global bone conduction hearing devices market.

By region, global bone conduction hearing devices market is segmented into North America, Asia-Pacific, Latin America, Europe, Middle East and Africa. North America is anticipated to lead the global bone conduction hearing devices market. The highly developed healthcare infrastructure is anticipated to drive the bone conduction hearing devices market in North America. Asia-Pacific region is anticipated to be the fastest developing region for the global bone conduction hearing devices market. The rising population in the region coupled with increasing adoption of the latest technology is predicted to fuel the market growth of the bone conduction hearing devices in Asia Pacific region.

Rising cases of the hearing losses among the growing population is anticipated to increase the demand for the bone conduction hearing devices

The congenital are the major cause for the loss of hearing among the population. Additionally, the other cause for the hearing loss is the ear infections. Thus the increasing cases of the hearing losses on the account of the above stated reason are anticipated to boost the growth of the global bone conduction hearing devices market during the forecast period.

Increasing use of the bone anchored hearing aids is anticipated to increase the demand for the bone conduction hearing devices

The application of the bone anchored among the population suffering from hearing defects is increasing on the account of the better sound quality and enhanced comfort level. The bone anchored devices offers less distortion and saturation while transferring the sound.

This report also provides the existing competitive scenario of some of the key players of the global bone conduction hearing devices market which includes company profiling of key companies such as Cochlear, Aftershokz, Marsboy, Damson Audio, Medtronic, MED-EL, SainSonic, Panasonic and William Demant. The outlining enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments.

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Union Department of Pharmaceuticals, Ministry of Chemicals and fertilizers has revised the Production Linked Incentive (PLI) Schemes for promoting domestic manufacturing of bulk drugs and medical devices keeping in view the suggestions and comments received from the industry. Accordingly ‘minimum threshold’ investment requirement has been replaced by ‘committed investment’ taking into account availability of technology choices which varies from product to product.

The Department of Pharmaceuticals earlier come out with the following two Production Linked Incentive schemes-

Production Linked Incentive scheme for promotion of domestic manufacturing of critical Key Starting Materials, Drug Intermediates and Active Pharmaceutical Ingredients in India

Production Linked Incentive Scheme for Promoting Domestic Manufacturing of Medical Devices

Both the schemes were approved by the Cabinet on 20.03.2020 and the detailed guidelines for the implementation of the schemes were issued by the Department on 27.07.2020.

Post issuance of the detailed guidelines, the department received several suggestions and inputs from the pharmaceutical and medical device industry seeking certain amendments in the scheme to enable effective participation of the industry in the two schemes. The suggestions were examined by the respective Technical Committees formed under the schemes. The recommendations of the Technical Committees were placed before the Empowered Committees of the schemes which are chaired by CEO NITI Aayog. After considering the recommendations of the Technical committees, the EC approved the revision of the guidelines for both the schemes. Accordingly, the revised guidelines have been issued today viz 29.10.2020 and are available on the website of the Department of Pharmaceuticals under the tab “schemes”.

The main changes which have been effected in the revised guidelines for Production Linked Incentive (PLI) scheme for promotion of domestic manufacturing of critical Key Starting Materials, Drug Intermediates and Active Pharmaceutical Ingredients in India are as follows:

Replacement of the criteria of ‘minimum threshold’ investment with ‘committed’ investment by the selected applicant. The change has been made to encourage efficient use of productive capital as the amount of investment required to achieve a particular level of production depends upon choice of technology and it also varies from product to product. The provision for verification of the actual investment made by the selected applicant for the purpose of giving incentives under the scheme continues.

Deletion of the provision which restricts the sales of eligible products to domestic sales only, for the purpose of eligibility of receiving incentives, bringing the scheme in line with other PLI schemes and encouraging market diversification.

Change in the minimum annual production capacity for 10 products viz Tetracycline, Neomycin, Para Amino Phenol (PAP), Meropenem, Artesunate, Losartan, Telmisartan, Acyclovir, Ciprofloxacin and Aspirin. Minimum annual production capacity is a part of eligibility criteria under the scheme.

The last date for receiving applications under the scheme is now extended by a week to 30.11.2020 (inclusive)

Similarly, the main changes which have been effected in the revised guidelines for Production Linked Incentive Scheme for Promoting Domestic Manufacturing of Medical Devices are as follows-

Replacement of the criteria of ‘minimum threshold’ investment with ‘committed’ investment by the selected applicant. The change has been made to encourage efficient use of productive capital as the amount of investment required to achieve a particular level of production depends upon technology used and it also varies from product to product. The provision for verification of the actual investment made by the selected applicant for the purpose of giving incentives under the scheme continues.

Change in the eligibility criteria of minimum sales threshold in line with projected demand, technology trend and market development, for the purpose of availing incentive under the scheme.

The tenure of the scheme has been extended by one year keeping in view the capital expenditure expected to be done by the selected applicants in FY 2021-22. Accordingly, the sales for the purpose of availing incentives will be accounted for 5 years starting from FY 2022-2023 instead of FY 2021-2022.

The last date for receiving applications under the scheme is now extended by a week to 30.11.2020 (inclusive)

The Indian pharmaceutical industry is the third largest globally in terms of volume and contributes significantly to India’s economic growth and export earnings. The Medical Devices industry is identified as a sunrise sector with great potential for diversification and employment generation. The Government of India has launched several initiatives to support the Pharmaceutical and Medical Devices industry to reach their potential in the coming years.

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