South-Eastern Asia: Hearing Aid Market 2024

Hearing Aid Market Size in South-Eastern Asia

The Southeast Asian hearing aid market soared to $X in 2022, with an increase of X% against the previous year. The market value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern remained consistent, with somewhat noticeable fluctuations being observed in certain years. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Hearing Aid Production in South-Eastern Asia

In value terms, hearing aid production fell slightly to $X in 2022 estimated in export price. The total production indicated moderate growth 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, production decreased by X% against 2019 indices. The most prominent rate of growth was recorded in 2018 with an increase of X%. The level of production peaked at $X in 2019; afterwards, it flattened through to 2022.

Hearing Aid Exports

Exports in South-Eastern Asia

In 2022, the amount of hearing aids (excl. parts and accessories) exported in South-Eastern Asia contracted notably to X units, shrinking by X% against the previous year's figure. Over the period under review, exports, however, continue to indicate a significant increase. The pace of growth appeared the most rapid in 2018 when exports increased by X% against the previous year. Over the period under review, the exports attained the maximum at X units in 2021, and then contracted rapidly in the following year.

In value terms, hearing aid exports plummeted to $X in 2022. Overall, exports, however, continue to indicate resilient growth. The most prominent rate of growth was recorded in 2018 with an increase of X%. The level of export peaked at $X in 2021, and then declined sharply in the following year.

Exports by Country

In 2022, Malaysia (X units) represented the largest exporter of hearing aids (excl. parts and accessories), creating X% of total exports. The Philippines (X units) held a X% share (based on physical terms) of total exports, which put it in second place, followed by Singapore (X%) and Vietnam (X%).

From 2012 to 2022, average annual rates of growth with regard to hearing aid exports from Malaysia stood at X%. At the same time, the Philippines (X%) and Vietnam (X%) displayed positive paces of growth. Moreover, the Philippines emerged as the fastest-growing exporter exported in South-Eastern Asia, with a CAGR of X% from 2012-2022. Singapore experienced a relatively flat trend pattern. From 2012 to 2022, the share of Malaysia and the Philippines increased by X and X percentage points, respectively.

In value terms, the largest hearing aid supplying countries in South-Eastern Asia were Singapore ($X), Vietnam ($X) and Malaysia ($X), with a combined X% share of total exports. These countries were followed by the Philippines, which accounted for a further X%.

In terms of the main exporting countries, the Philippines, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the export price in South-Eastern Asia amounted to $X per unit, rising by X% against the previous year. Over the period under review, the export price, however, recorded a deep setback. The most prominent rate of growth was recorded in 2015 when the export price increased by X%. The level of export peaked at $X per unit in 2013; however, from 2014 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Singapore ($X per unit), while Malaysia ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Philippines (X%), while the other leaders experienced a decline in the export price figures.

Hearing Aid Imports

Imports in South-Eastern Asia

In 2022, the amount of hearing aids (excl. parts and accessories) imported in South-Eastern Asia surged to X units, with an increase of X% compared with 2021. Over the period under review, imports showed prominent growth. The pace of growth appeared the most rapid in 2016 when imports increased by X%. Over the period under review, imports reached the peak figure at X units in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

In value terms, hearing aid imports soared to $X in 2022. Total imports indicated a moderate 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 2015 indices. The pace of growth was the most pronounced in 2016 when imports increased by X% against the previous year. The level of import peaked in 2022 and is likely to see steady growth in years to come.

Imports by Country

Malaysia was the key importing country with an import of about X units, which resulted at X% of total imports. It was distantly followed by Singapore (X units), constituting a X% share of total imports. The following importers - the Philippines (X units), Thailand (X units) and Vietnam (X units) - together made up X% of total imports.

From 2012 to 2022, average annual rates of growth with regard to hearing aid imports into Malaysia stood at X%. At the same time, the Philippines (X%) and Thailand (X%) displayed positive paces of growth. Moreover, the Philippines emerged as the fastest-growing importer imported in South-Eastern Asia, with a CAGR of X% from 2012-2022. Vietnam experienced a relatively flat trend pattern. By contrast, Singapore (X%) illustrated a downward trend over the same period. While the share of Malaysia (X p.p.) and the Philippines (X p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Vietnam (X p.p.) and Singapore (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest hearing aid importing markets in South-Eastern Asia were Singapore ($X), the Philippines ($X) and Malaysia ($X), together accounting for X% of total imports.

The Philippines, with a CAGR of X%, saw the highest growth rate of the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in South-Eastern Asia amounted to $X per unit, falling by X% against the previous year. Overall, the import price saw a mild descent. The pace of growth appeared the most rapid in 2020 an increase of X% against the previous year. The level of import peaked at $X per unit in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was the Philippines ($X per unit), while Malaysia ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Philippines (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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