Global Hearing Aid Market Overview 2020

Hearing Aid Market Size

The global hearing aid market skyrocketed to $X in 2019, jumping by X% against the previous year. Overall, consumption saw a prominent increase. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Hearing Aid Production

In value terms, hearing aid production amounted to $X in 2019 estimated in export prices. The total output value increased at an average annual rate of +X% over the period from 2007 to 2019; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations in certain years. The pace of growth appeared the most rapid in 2012 when the production volume increased by X% year-to-year. As a result, production attained the peak level of $X. From 2013 to 2019, global production growth remained at a somewhat lower figure.

Production By Country

The country with the largest volume of hearing aid production was China (X units), accounting for X% of total volume. Moreover, hearing aid production in China exceeded the figures recorded by the second-largest producer, Canada (X units), fivefold. Poland (X units) ranked third in terms of total production with a X% share.

From 2007 to 2019, the average annual rate of growth in terms of volume in China stood at +X%. The remaining producing countries recorded the following average annual rates of production growth: Canada (+X% per year) and Poland (+X% per year).

Hearing Aid Exports

Exports

Global hearing aid exports rose rapidly to X units in 2019, growing by X% compared with the previous year. Over the period under review, total exports indicated buoyant growth from 2007 to 2019: its volume increased at an average annual rate of +X% over the last twelve-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2019 figures, exports increased by +X% against 2016 indices. The growth pace was the most rapid in 2012 with an increase of X% against the previous year. As a result, exports reached the peak of X units. From 2013 to 2019, the growth of global exports remained at a somewhat lower figure.

In value terms, hearing aid exports fell to $X in 2019. The total export value increased at an average annual rate of +X% over the period from 2007 to 2019; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2008 when exports increased by X% year-to-year. Over the period under review, global exports hit record highs at $X in 2018, and then shrank in the following year.

Exports by Country

In 2019, China (X units), distantly followed by Poland (X units), the U.S. (X units), Denmark (X units) and Singapore (X units) represented the main exporters of hearing aids (excl. parts and accessories), together comprising X% of total exports. The UK (X units), Switzerland (X units), Mexico (X units), Viet Nam (X units) and Germany (X units) held a relatively small share of total exports.

From 2007 to 2019, the biggest increases were in Poland, while shipments for the other global leaders experienced more modest paces of growth.

In value terms, Poland ($X), Singapore ($X) and the U.S. ($X) appeared to be the countries with the highest levels of exports in 2019, together comprising X% of global exports.

Among the main exporting countries, Poland saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Export Prices by Country

The average hearing aid export price stood at $X per unit in 2019, which is down by -X% against the previous year. In general, the export price showed a slight downturn. The pace of growth appeared the most rapid in 2013 an increase of X% y-o-y. Global export price peaked at $X per unit in 2008; however, from 2009 to 2019, export prices failed to regain the momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2019, the country with the highest price was Switzerland ($X per unit), while China ($X per unit) was amongst the lowest.

From 2007 to 2019, the most notable rate of growth in terms of prices was attained by Viet Nam, while the other global leaders experienced more modest paces of growth.

Hearing Aid Imports

Imports

In 2019, approx. X units of hearing aids (excl. parts and accessories) were imported worldwide; growing by X% against the previous year. Overall, imports recorded a remarkable increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, hearing aid imports reached $X in 2019. Over the period under review, total imports indicated a buoyant expansion from 2007 to 2019: its value increased at an average annual rate of +X% over the last twelve-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2019 figures, imports increased by +X% against 2007 indices. The pace of growth was the most pronounced in 2018 when imports increased by X% y-o-y. Global imports peaked in 2019 and are expected to retain growth in years to come.

Imports by Country

South Africa prevails in hearing aid imports structure, recording X units, which was near X% of total imports in 2019. It was distantly followed by the U.S. (X units) and the UK (X units), together committing a X% share of total imports. Germany (X units), Poland (X units), the Netherlands (X units) and France (X units) occupied a relatively small share of total imports.

South Africa was also the fastest-growing in terms of the hearing aids (excl. parts and accessories) imports, with a CAGR of +X% from 2007 to 2019. At the same time, Poland (+X%), the Netherlands (+X%), France (+X%), the UK (+X%), the U.S. (+X%) and Germany (+X%) displayed positive paces of growth. From 2007 to 2019, the share of South Africa, the U.S., the UK, Poland and the Netherlands increased by +X%, +X%, +X%, +X% and +X% percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

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

In the U.S., hearing aid imports increased at an average annual rate of +X% over the period from 2007-2019. In the other countries, the average annual rates were as follows: Germany (+X% per year) and France (+X% per year).

Import Prices by Country

The average hearing aid import price stood at $X per unit in 2019, dropping by -X% against the previous year. In general, the import price saw a drastic downturn. The pace of growth was the most pronounced in 2018 when the average import price increased by X% year-to-year. Over the period under review, average import prices attained the peak figure at $X per unit in 2012; however, from 2013 to 2019, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2019, the country with the highest price was France ($X per unit), while South Africa ($X per unit) was amongst the lowest.

From 2007 to 2019, the most notable rate of growth in terms of prices was attained by the U.S., while the other global leaders experienced mixed trends in the import price figures.

Source: IndexBox AI Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for hearing aids (excl. parts and accessories) in the world?

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The country with the largest volume of hearing aid consumption was South Africa (51M units), comprising approx. 46% of total volume. Moreover, hearing aid consumption in South Africa exceeded the figures recorded by the second-largest consumer, China (14M units), fourfold. The U.S. (7.2M units) ranked third in terms of total consumption with a 6.6% share.

What are the largest producers of hearing aids (excl. parts and accessories) in the world?

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The country with the largest volume of hearing aid production was China (23M units), comprising approx. 43% of total volume. Moreover, hearing aid production in China exceeded the figures recorded by the second-largest producer, Canada (4.4M units), fivefold. The third position in this ranking was occupied by Poland (4M units), with a 7.3% share.

What are the leading suppliers of hearing aids (excl. parts and accessories) in the world?

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In value terms, Poland ($950M), Singapore ($478M) and the U.S. ($440M) constituted the countries with the highest levels of exports in 2019, with a combined 47% share of global exports.

What are the leading importers of hearing aids (excl. parts and accessories) in the world?

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In value terms, the U.S. ($1.6B) constitutes the largest market for imported hearing aids (excl. parts and accessories) worldwide, comprising 31% of global imports. The second position in the ranking was occupied by Germany ($472M), with a 9.3% share of global imports. It was followed by France, with a 7.1% share.

What is the average export price for hearing aids (excl. parts and accessories) in the world?

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The average hearing aid export price stood at $130 per unit in 2019, which is down by -15.2% against the previous year.

What is the average import price for hearing aids (excl. parts and accessories) in the world?

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The average hearing aid import price stood at $59 per unit in 2019, which is down by -62% against the previous year.