Bulgaria: Hearing Aid Market Overview 2020

Hearing Aid Market Size in Bulgaria

The revenue of the hearing aid market in Bulgaria amounted to $X in 2018, lowering by -X% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, hearing aid consumption continues to indicate a measured shrinkage. The pace of growth was the most pronounced in 2008 with an increase of X% year-to-year. In that year, the hearing aid market reached its peak level of $X. From 2009 to 2018, the growth of the hearing aid market remained at a lower figure.

Hearing Aid Exports

Exports from Bulgaria

In 2018, approx. X units of hearing aids (excl. parts and accessories) were exported from Bulgaria; lowering by -X% against the previous year. In general, hearing aid exports, however, continue to indicate an extraordinary expansion. The most prominent rate of growth was recorded in 2008 when exports increased by X% against the previous year. Over the period under review, hearing aid exports attained their maximum at X units in 2015; however, from 2016 to 2018, exports stood at a somewhat lower figure.

In value terms, hearing aid exports amounted to $X in 2018. Over the period under review, hearing aid exports, however, continue to indicate a skyrocketing expansion. The pace of growth was the most pronounced in 2008 with an increase of X% year-to-year. Over the period under review, hearing aid exports attained their maximum at $X in 2017, and then declined slightly in the following year.

Exports by Country

The Czech Republic (X units) was the main destination for hearing aid exports from Bulgaria, with a X% share of total exports. Moreover, hearing aid exports to the Czech Republic exceeded the volume sent to the second major destination, Norway (X units), threefold. Lebanon (X units) ranked third in terms of total exports with a X% share.

From 2007 to 2018, the average annual rate of growth in terms of volume to the Czech Republic stood at +X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Norway (+X% per year) and Lebanon (+X% per year).

In value terms, Lithuania ($X) remains the key foreign market for hearing aid exports from Bulgaria, comprising X% of total hearing aid exports. The second position in the ranking was occupied by the Czech Republic ($X), with a X% share of total exports. It was followed by Romania, with a X% share.

From 2007 to 2018, the average annual rate of growth in terms of value to Lithuania stood at +X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Czech Republic (+X% per year) and Romania (+X% per year).

Export Prices by Country

In 2018, the average hearing aid export price amounted to $X per unit, shrinking by -X% against the previous year. Over the period under review, the hearing aid export price continues to indicate an abrupt reduction. The pace of growth appeared the most rapid in 2017 when the average export price increased by X% against the previous year. In that year, the average export prices for hearing aids (excl. parts and accessories) attained their peak level of $X per unit, and then declined slightly in the following year.

Prices varied noticeably by the country of destination; the country with the highest price was Lithuania ($X per unit), while the average price for exports to Germany ($X per unit) was amongst the lowest.

From 2007 to 2018, the most notable rate of growth in terms of prices was recorded for supplies to Lithuania, while the prices for the other major destinations experienced a decline.

Hearing Aid Imports

Imports into Bulgaria

In 2018, approx. X units of hearing aids (excl. parts and accessories) were imported into Bulgaria; rising by X% against the previous year. In general, hearing aid imports continue to indicate a temperate expansion. The growth pace was the most rapid in 2008 when imports increased by X% year-to-year. In that year, hearing aid imports reached their peak of X units. From 2009 to 2018, the growth of hearing aid imports remained at a somewhat lower figure.

In value terms, hearing aid imports stood at $X in 2018. Overall, hearing aid imports continue to indicate a deep descent. The growth pace was the most rapid in 2008 with an increase of X% year-to-year. In that year, hearing aid imports attained their peak of $X. From 2009 to 2018, the growth of hearing aid imports remained at a lower figure.

Imports by Country

In 2018, Singapore (X units) constituted the largest supplier of hearing aid to Bulgaria, with a X% share of total imports. Moreover, hearing aid imports from Singapore exceeded the figures recorded by the second-largest supplier, Germany (X units), threefold. The third position in this ranking was occupied by the U.S. (X units), with a X% share.

From 2007 to 2018, the average annual growth rate of volume from Singapore stood at +X%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+X% per year) and the U.S. (-X% per year).

In value terms, Singapore ($X), France ($X) and Germany ($X) were the largest hearing aid suppliers to Bulgaria, together accounting for X% of total imports.

Germany experienced the highest growth rate of imports, in terms of the main suppliers over the last eleven years, while the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2018, the average hearing aid import price amounted to $X per unit, lowering by -X% against the previous year. Over the period under review, the hearing aid import price continues to indicate an abrupt drop. The pace of growth was the most pronounced in 2011 when the average import price increased by X% y-o-y. In that year, the average import prices for hearing aids (excl. parts and accessories) attained their peak level of $X per unit. From 2012 to 2018, the growth in terms of the average import prices for hearing aids (excl. parts and accessories) failed to regain its momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2018, the country with the highest price was France ($X per unit), while the price for Singapore ($X per unit) was amongst the lowest.

From 2007 to 2018, the most notable rate of growth in terms of prices was attained by Slovenia, while the prices for the other major suppliers experienced a decline.

Source: IndexBox AI Platform