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Hearing aids Market in India

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A quick snapshot of global & India market of Hearing Aids in India. For more information contact:

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Hearing aids Market in India

  1. 1. Market Evaluation for Hearing Aids in India
  2. 2. Global Market Overview 1997 Global Market Shares 1998 2006 2005 Global Market Shares Others Siemens Company # of Deals Others Widex 7% Siemens 20% 24% Phonak ∼7 7% 21% GNR ∼6 WD ∼4 GN Philips Resound Starkey Siemens ∼1 4% 17% Starkey 14% 10% Resound 5% Danovox WD Widex # of deals ∼ 20 5% 12% Phonak WD 8% Phonak 8% 17% 21% Hearing aids (HA) is ∼ US$ 4 Bn (2005) & categorized under medical devices business HA is one of the few businesses with strong EU market domination & presence The Hearing aids market has seen a major consolidation with a spurt of M&A activities Focus is on technological leadership & consolidation Source: Equity Research
  3. 3. India: Economy & Healthcare Economy Leverage Demographic Leverage Stability of current Government Skilled human capital + 8% GDP growth target Democratic government Continuity of economic & Widespread of English structural reforms Macroeconomic stability Currency will hold up reasonably Mounting FDIs & Institutional Investments Corporate Advantage Healthcare Advantage Dynamic private sector Healthcare industry will remain Institutions supporting free market buoyant economy Price sensitivities will remain Largest local market in the world Generics/ Local mfg will increase Well-developed financial sector More MNCs will come direct Rich & diverse culture that generates a wealth of ideas
  4. 4. Siemens Hearing Products Based at Bangalore Part of the huge Siemens Medical Solutions Large portfolio Rs. 10,000 to Rs. 60,000 per device Best selling products – Centra, Triano Greater emphasis on Science & Professional driven sales Strong government liaison Increasing consumerization – Not in line with Siemens’ philosophy
  5. 5. GN Resound India GN ReSound’s products have been distributed on the Indian market since 1994 In 2005, GN decided to partner up with the largest Indian GN ReSound distributor to form GN ReSound India GNR has limited product range The focus is on consumer sales thru professionals & retail chain GNR does not wish to establish or run retail chains India organization expected to change in view of the Phonak acquisition of GNR globally
  6. 6. William Demant Holdings WD present thru Distributors Bernafon – Hearing Aid Centre, Ludhiana Oticon – Alps International, New Delhi Overlapping & negative sales synergies Not fully integrated product portfolio Selected launched portfolio High focus on the high price variants High style quotient products
  7. 7. Widex India Based at Chandigarh JV between Widex & an individual Most developed channel & customer contacts Celebrity promotion – Syed Kirmani, Ex-cricketer & Zohra Sehgal, Actress Owns Senso Hearing Centre Focus on direct consumers thru DTC Promotion
  8. 8. Starkey Labs - India India entry in 2007 Present as of now thru a distributor & also a local player, Elcon Plans for; Sales office Manufacturing site Manpower allotment ∼ 40 people Privately owned company Hi-tech products & average sized portfolio
  9. 9. HA Devices Value Chain Cli nic n rive /I Distributor nst er D i tu m tio nsu n Manufacturer Dr Co ive n Stockist Retail Driven
  10. 10. Customers at a glance Lack of awareness… Abundance of denial Major clusters of customers Retailers/ Wholesellers Professionals – Audiologists/ ENT Surgeons with inclined Otology practice Consumers/ Patients Government organizations Non-Government organizations Promotions Print/ TV/ Radio Events – Consumer/ Healthcare Professional recommendations POS/ POP campaigns Organizational campaigns Companies with long-term view only will sail thru
  11. 11. ?&! Thank you!