Asia-Pacific: Hearing Aid Market 2022

Hearing Aid Market Size in Asia-Pacific

The Asia-Pacific hearing aid market rose notably to $X in 2021, picking up by 9.6% against the previous year. The market value increased at an average annual rate of +1.5% over the period from 2012 to 2021; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed throughout the analyzed period. As a result, consumption reached the peak level of $X; afterwards, it flattened through to 2021.

Hearing Aid Production in Asia-Pacific

In value terms, hearing aid production expanded sharply to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +2.4% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2013 when the production volume increased by 16%. The level of production peaked at $X in 2019; however, from 2020 to 2021, production remained at a lower figure.

Hearing Aid Exports

Exports in Asia-Pacific

In 2021, the amount of hearing aids (excl. parts and accessories) exported in Asia-Pacific skyrocketed to X units, increasing by 28% on 2020 figures. Total exports indicated resilient growth from 2012 to 2021: its volume increased at an average annual rate of +6.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports decreased by -12.3% against 2019 indices. The pace of growth appeared the most rapid in 2019 when exports increased by 38%. As a result, the exports attained the peak of X units. From 2020 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, hearing aid exports surged to $X in 2021. Total exports indicated a notable expansion from 2012 to 2021: its value increased at an average annual rate of +2.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports decreased by -19.5% against 2019 indices. The growth pace was the most rapid in 2018 when exports increased by 29% against the previous year. The level of export peaked at $X in 2019; however, from 2020 to 2021, the exports remained at a lower figure.

Exports by Country

In 2021, China (X units) represented the largest exporter of hearing aids (excl. parts and accessories), creating 60% of total exports. Singapore (X units) ranks second in terms of the total exports with a 14% share, followed by Vietnam (11%) and Malaysia (11%). The Philippines (X units) followed a long way behind the leaders.

Exports from China increased at an average annual rate of +5.4% from 2012 to 2021. At the same time, the Philippines (+89.1%), Malaysia (+59.2%), Vietnam (+24.0%) and Singapore (+6.2%) displayed positive paces of growth. Moreover, the Philippines emerged as the fastest-growing exporter exported in Asia-Pacific, with a CAGR of +89.1% from 2012-2021. While the share of Malaysia (+11 p.p.), Vietnam (+8.4 p.p.) and the Philippines (+2.4 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of China (-7.7 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Singapore ($X), Vietnam ($X) and China ($X) appeared to be the countries with the highest levels of exports in 2021, with a combined 84% share of total exports. Malaysia and the Philippines lagged somewhat behind, together accounting for a further 14%.

The Philippines, with a CAGR of +77.5%, recorded the highest growth rate of the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in Asia-Pacific stood at $X per unit in 2021, with a decrease of -8.3% against the previous year. Overall, the export price continues to indicate a noticeable decrease. The growth pace was the most rapid in 2018 an increase of 16%. The level of export peaked at $X per unit in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably country of origin: the country with the highest price was the Philippines ($X per unit), while China ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Malaysia (+5.7%), while the other leaders experienced a decline in the export price figures.

Hearing Aid Imports

Imports in Asia-Pacific

In 2021, the amount of hearing aids (excl. parts and accessories) imported in Asia-Pacific soared to X units, rising by 24% against the previous year. Total imports indicated a temperate expansion from 2012 to 2021: its volume increased at an average annual rate of +4.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +78.5% against 2014 indices. The pace of growth appeared the most rapid in 2016 when imports increased by 36%. The volume of import peaked in 2021 and is likely to see steady growth in the near future.

In value terms, hearing aid imports skyrocketed to $X in 2021. Total imports indicated a noticeable expansion from 2012 to 2021: its value increased at an average annual rate of +3.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2016 with an increase of 26% against the previous year. The level of import peaked in 2021 and is expected to retain growth in the near future.

Imports by Country

The countries with the highest levels of hearing aid imports in 2021 were India (X units), Australia (X units), Japan (X units), the Philippines (X units), Singapore (X units) and China (X units), together accounting for 81% of total import. It was distantly followed by Malaysia (X units), mixing up a 5.2% share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by the Philippines (with a CAGR of +53.5%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Japan ($X), Singapore ($X) and Australia ($X) constituted the countries with the highest levels of imports in 2021, with a combined 54% share of total imports. India, China, the Philippines and Malaysia lagged somewhat behind, together comprising a further 23%.

The Philippines, with a CAGR of +39.2%, recorded 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

The import price in Asia-Pacific stood at $X per unit in 2021, waning by -3.5% against the previous year. Over the period under review, the import price saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 an increase of 9.3%. The level of import peaked at $X per unit in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was Singapore ($X per unit), while India ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Malaysia (+1.8%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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