Northern America: Hearing Aid Market 2024

Hearing Aid Market Size in Northern America

The North American hearing aid market declined slightly to $X in 2022, therefore, remained relatively stable against the previous year. In general, consumption continues to indicate a pronounced shrinkage. The level of consumption peaked at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Hearing Aid Production in Northern America

In value terms, hearing aid production totaled $X in 2022 estimated in export price. Over the period under review, production, however, saw a perceptible slump. The most prominent rate of growth was recorded in 2019 with an increase of X% against the previous year. The level of production peaked at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Hearing Aid Exports

Exports in Northern America

In 2022, hearing aid exports in Northern America rose rapidly to X units, increasing by X% compared with the previous year's figure. Overall, exports recorded prominent growth. The most prominent rate of growth was recorded in 2015 with an increase of X% against the previous year. Over the period under review, the exports reached the maximum in 2022 and are likely to see gradual growth in the near future.

In value terms, hearing aid exports expanded rapidly to $X in 2022. Total exports indicated a remarkable increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by X% against 2020 indices. The pace of growth appeared the most rapid in 2021 with an increase of X% against the previous year. Over the period under review, the exports reached the peak figure in 2022 and are likely to see steady growth in the immediate term.

Exports by Country

The United States prevails in exports structure, recording X units, which was approx. X% of total exports in 2022. It was distantly followed by Canada (X units), generating a X% share of total exports.

From 2012 to 2022, average annual rates of growth with regard to hearing aid exports from the United States stood at X%. At the same time, Canada (X%) displayed positive paces of growth. Moreover, Canada emerged as the fastest-growing exporter exported in Northern America, with a CAGR of X% from 2012-2022. Canada (X p.p.) significantly strengthened its position in terms of the total exports, while the United States saw its share reduced by X% from 2012 to 2022, respectively.

In value terms, the United States ($X) remains the largest hearing aid supplier in Northern America, comprising X% of total exports. The second position in the ranking was taken by Canada ($X), with a X% share of total exports.

From 2012 to 2022, the average annual growth rate of value in the United States totaled X%.

Export Prices by Country

The export price in Northern America stood at $X per unit in 2022, approximately equating the previous year. In general, the export price recorded a slight reduction. The growth pace was the most rapid in 2014 an increase of X%. As a result, the export price reached the peak level of $X per unit. From 2015 to 2022, the export prices remained at a somewhat lower figure.

Average prices varied noticeably amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Canada ($X per unit), while the United States amounted to $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (X%).

Hearing Aid Imports

Imports in Northern America

Hearing aid imports stood at X units in 2022, increasing by X% on the previous year. Total imports indicated a resilient increase from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2014 indices. The most prominent rate of growth was recorded in 2021 when imports increased by X%. Over the period under review, imports attained the peak figure in 2022 and are expected to retain growth in years to come.

In value terms, hearing aid imports expanded to $X in 2022. Total imports indicated a prominent increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2020 indices. The pace of growth appeared the most rapid in 2021 when imports increased by X%. The level of import peaked in 2022 and is expected to retain growth in the immediate term.

Imports by Country

The United States represented the main importing country with an import of around X units, which recorded X% of total imports. It was distantly followed by Canada (X units), mixing up a X% share of total imports.

From 2012 to 2022, average annual rates of growth with regard to hearing aid imports into the United States stood at X%. At the same time, Canada (X%) displayed positive paces of growth. Moreover, Canada emerged as the fastest-growing importer imported in Northern America, with a CAGR of X% from 2012-2022. While the share of Canada (X p.p.) increased significantly in terms of the total imports from 2012-2022, the share of the United States (X p.p.) displayed negative dynamics.

In value terms, the United States ($X) constitutes the largest market for imported hearing aids (excl. parts and accessories) in Northern America, comprising X% of total imports. The second position in the ranking was taken by Canada ($X), with an X% share of total imports.

In the United States, hearing aid imports expanded at an average annual rate of X% over the period from 2012-2022.

Import Prices by Country

In 2022, the import price in Northern America amounted to $X per unit, standing approx. at the previous year. In general, the import price, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2017 when the import price increased by X%. Over the period under review, import prices attained the peak figure at $X per unit in 2013; however, from 2014 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was the United States ($X per unit), while Canada stood at $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (X%).

Source: IndexBox Platform

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