Estonia: Hearing Aid Market Overview 2020

Hearing Aid Market Size in Estonia

The revenue of the hearing aid market in Estonia amounted to $X in 2018, rising by X% against the previous year. Over the period under review, the total market indicated a strong expansion from 2007 to 2018: its value increased at an average annual rate of +X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2018 figures, hearing aid consumption increased by +X% against 2013 indices. The most prominent rate of growth was recorded in 2011 when the market value increased by X% against the previous year. Over the period under review, the hearing aid market attained its maximum level in 2018 and is expected to retain its growth in the immediate term.

Hearing Aid Production in Estonia

In value terms, hearing aid production amounted to $X in 2018 estimated in export prices. Overall, hearing aid production continues to indicate a prominent expansion. The growth pace was the most rapid in 2014 when production volume increased by X% against the previous year. Estonia hearing aid production peaked at $X in 2015; however, from 2016 to 2018, production failed to regain its momentum.

Hearing Aid Exports

Exports from Estonia

Hearing aid exports from Estonia stood at X units in 2018, coming down by -X% against the previous year. Overall, hearing aid exports continue to indicate a drastic contraction. The pace of growth was the most pronounced in 2014 with an increase of X% year-to-year. Estonia exports peaked at X units in 2007; however, from 2008 to 2018, exports stood at a somewhat lower figure.

In value terms, hearing aid exports amounted to $X in 2018. In general, hearing aid exports continue to indicate a buoyant expansion. The pace of growth appeared the most rapid in 2013 with an increase of X% y-o-y. Estonia exports peaked in 2018 and are expected to retain its growth in the near future.

Exports by Country

Malaysia prevails in hearing aid exports structure, reaching X units, which was near X% of total exports in 2018. China (X units) followed a long way behind the leaders.

Malaysia was also the fastest-growing in terms of the hearing aids (excl. parts and accessories) exports, with a CAGR of +X% from 2007 to 2018. At the same time, China (+X%) displayed positive paces of growth. Malaysia (+X p.p.) and China (+X p.p.) significantly strengthened its position in terms of the global exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest hearing aid supplier from Estonia, comprising X% of global exports. The second position in the ranking was occupied by Malaysia ($X), with a X% share of global exports.

In China, hearing aid exports increased at an average annual rate of +X% over the period from 2007-2018. In the other countries, the average annual rates were as follows: Malaysia (+X% per year) and Estonia (+X% per year).

Export Prices by Country

The hearing aid export price in Estonia stood at $X per unit in 2018, increasing by X% against the previous year. Overall, the hearing aid export price continues to indicate extraordinary growth. The most prominent rate of growth was recorded in 2013 when the export price increased by X% against the previous year. Estonia export price peaked in 2018 and is expected to retain its growth in the immediate term.

There were significant differences in the average prices amongst the major exporting countries. In 2018, the country with the highest price was China ($X per unit), while Malaysia stood at $X per unit.

From 2007 to 2018, the most notable rate of growth in terms of prices was attained by China.

Hearing Aid Imports

Imports into Estonia

In 2018, the amount of hearing aids (excl. parts and accessories) imported into Estonia totaled X units, falling by -X% against the previous year. In general, hearing aid imports continue to indicate a deep contraction. The growth pace was the most rapid in 2011 when imports increased by X% against the previous year. In that year, hearing aid imports reached their peak of X units. From 2012 to 2018, the growth of hearing aid imports remained at a lower figure.

In value terms, hearing aid imports totaled $X in 2018. Overall, hearing aid imports continue to indicate buoyant growth. The pace of growth appeared the most rapid in 2018 when imports increased by X% against the previous year. In that year, hearing aid imports attained their peak and are likely to continue its growth in the immediate term.

Imports by Country

In 2018, the U.S. (X units) was the main importer of hearing aids (excl. parts and accessories), mixing up X% of total imports. Germany (X units) occupied the second position in the ranking, followed by the UK (X units) and the Netherlands (X units). All these countries together occupied approx. X% share of total imports. Mexico (X units), Canada (X units), France (X units), Australia (X units), Japan (X units), India (X units), Switzerland (X units) and Poland (X units) followed a long way behind the leaders.

From 2007 to 2018, average annual rates of growth with regard to hearing aid imports into the U.S. stood at +X%. At the same time, Mexico (+X%), the Netherlands (+X%), India (+X%), Poland (+X%), Australia (+X%), Japan (+X%), France (+X%), Canada (+X%), the UK (+X%) and Germany (+X%) displayed positive paces of growth. Moreover, Mexico emerged as the fastest-growing importer in the world, with a CAGR of +X% from 2007-2018. By contrast, Switzerland (-X%) illustrated a downward trend over the same period. While the share of the U.S. (+X p.p.), the Netherlands (+X p.p.), Mexico (+X p.p.), India (+X p.p.), the UK (+X p.p.), Poland (+X p.p.) and Australia (+X p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the U.S. ($X) constitutes the largest market for imported hearing aids (excl. parts and accessories) into Estonia, comprising X% of global imports. The second position in the ranking was occupied by Germany ($X), with a X% share of global imports. It was followed by the UK, with a X% share.

In the U.S., hearing aid imports expanded at an average annual rate of +X% over the period from 2007-2018. In the other countries, the average annual rates were as follows: Germany (+X% per year) and the UK (+X% per year).

Import Prices by Country

In 2018, the hearing aid import price in Estonia amounted to $X per unit, rising by X% against the previous year. In general, the hearing aid import price continues to indicate remarkable growth. The pace of growth was the most pronounced in 2018 an increase of X% y-o-y. In that year, the import prices for hearing aids (excl. parts and accessories) reached their peak level and is likely to continue its growth in the immediate term.

Prices varied noticeably by the country of destination; the country with the highest price was France ($X per unit), while Mexico ($X per unit) was amongst the lowest.

From 2007 to 2018, the most notable rate of growth in terms of prices was attained by Switzerland, while the other leaders experienced more modest paces of growth.

Source: IndexBox AI Platform