Hungary: Hearing Aid Market Overview 2020

Hearing Aid Market Size in Hungary

The revenue of the hearing aid market in Hungary amounted to $X in 2018, dropping 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). Overall, the total market indicated a pronounced 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 decreased by -X% against 2013 indices. The growth pace was the most rapid in 2013 with an increase of X% year-to-year. Over the period under review, the hearing aid market attained its peak figure level at $X in 2017, and then declined slightly in the following year.

Hearing Aid Exports

Exports from Hungary

In 2018, the amount of hearing aids (excl. parts and accessories) exported from Hungary totaled X units, jumping by X% against the previous year. Overall, hearing aid exports continue to indicate a prominent increase. The pace of growth was the most pronounced in 2009 with an increase of X% y-o-y. Over the period under review, hearing aid exports reached their peak figure at X units in 2016; however, from 2017 to 2018, exports stood at a somewhat lower figure.

In value terms, hearing aid exports amounted to $X in 2018. Overall, hearing aid exports continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2013 when exports increased by X% y-o-y. Over the period under review, hearing aid exports attained their peak figure at $X in 2014; however, from 2015 to 2018, exports remained at a lower figure.

Exports by Country

The U.S. (X units) was the main destination for hearing aid exports from Hungary, with a X% share of total exports. Moreover, hearing aid exports to the U.S. exceeded the volume sent to the second major destination, Egypt (X units), fourfold. The third position in this ranking was occupied by Serbia (X units), with a X% share.

From 2007 to 2018, the average annual growth rate of volume to the U.S. stood at +X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Egypt (+X% per year) and Serbia (+X% per year).

In value terms, the largest markets for hearing aid exported from Hungary were the U.S. ($X), Switzerland ($X) and Egypt ($X), with a combined X% share of total exports.

The U.S. recorded the highest rates of growth with regard to exports, among the main countries of destination over the last eleven-year period, while the other leaders experienced more modest paces of growth.

Export Prices by Country

The average hearing aid export price stood at $X per unit in 2018, lowering by -X% against the previous year. Overall, the hearing aid export price continues to indicate a drastic downturn. The growth pace was the most rapid in 2013 an increase of X% year-to-year. Over the period under review, the average export prices for hearing aids (excl. parts and accessories) reached their peak figure at $X per unit in 2007; however, from 2008 to 2018, export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major foreign markets. In 2018, the country with the highest price was Switzerland ($X per unit), while the average price for exports to Romania ($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 Switzerland, while the prices for the other major destinations experienced a decline.

Hearing Aid Imports

Imports into Hungary

Hearing aid imports into Hungary totaled X units in 2018, growing by X% against the previous year. Overall, the total imports indicated a strong increase from 2007 to 2018: its volume increased at an average annual rate of +X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2018 figures, hearing aid imports increased by +X% against 2014 indices. The pace of growth appeared the most rapid in 2013 with an increase of X% against the previous year. Imports peaked in 2018 and are expected to retain its growth in the immediate term.

In value terms, hearing aid imports amounted to $X in 2018. Over the period under review, the total imports indicated noticeable growth 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. The most prominent rate of growth was recorded in 2008 when imports increased by X% y-o-y. Over the period under review, hearing aid imports reached their peak figure at $X in 2017, and then declined slightly in the following year.

Imports by Country

In 2018, France (X units) constituted the largest hearing aid supplier to Hungary, with a X% share of total imports. Moreover, hearing aid imports from France exceeded the figures recorded by the second-largest supplier, Denmark (X units), twofold. 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 rate of growth in terms of volume from France totaled +X%. The remaining supplying countries recorded the following average annual rates of imports growth: Denmark (+X% per year) and the U.S. (+X% per year).

In value terms, France ($X), Poland ($X) and the UK ($X) appeared to be the largest hearing aid suppliers to Hungary, with a combined X% share of total imports.

Among the main suppliers, Poland (+X% per year) experienced the highest rates of growth with regard to imports, over the last eleven-year period, 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, shrinking by -X% against the previous year. Over the period under review, the hearing aid import price continues to indicate a mild slump. The growth pace was the most rapid in 2014 when the average import price increased by X% against the previous year. In that year, the average import prices for hearing aids (excl. parts and accessories) reached their peak level of $X per unit. From 2015 to 2018, the growth in terms of the average import prices for hearing aids (excl. parts and accessories) remained at a lower figure.

Prices varied noticeably by the country of origin; the country with the highest price was the UK ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2007 to 2018, the most notable rate of growth in terms of prices was attained by the UK, while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox AI Platform