Australia and Oceania: Hearing Aid Market 2022

Hearing Aid Market Size in Australia and Oceania

The hearing aid market in Australia and Oceania soared to $X in 2021, growing by 47% against the previous year. Overall, consumption recorded buoyant growth. Over the period under review, the market attained the maximum level in 2021 and is expected to retain growth in the near future.

Hearing Aid Production in Australia and Oceania

In value terms, hearing aid production expanded significantly to $X in 2021 estimated in export price. Over the period under review, production recorded a remarkable increase. The most prominent rate of growth was recorded in 2016 when the production volume increased by 154%. The level of production peaked at $X in 2019; however, from 2020 to 2021, production failed to regain momentum.

Hearing Aid Exports

Exports in Australia and Oceania

In 2021, shipments abroad of hearing aids (excl. parts and accessories) decreased by -79.7% to X units, falling for the second year in a row after four years of growth. Overall, exports continue to indicate a abrupt decrease. The most prominent rate of growth was recorded in 2019 with an increase of 70%. As a result, the exports reached the peak of X units. From 2020 to 2021, the growth of the exports failed to regain momentum.

In value terms, hearing aid exports contracted dramatically to $X in 2021. Over the period under review, exports faced a sharp reduction. The most prominent rate of growth was recorded in 2016 when exports increased by 77%. The level of export peaked at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

In 2021, Australia (X units) and New Zealand (X units) was the largest exporter of hearing aids (excl. parts and accessories) in Australia and Oceania, generating 100% of total export.

From 2012 to 2021, the biggest increases were in New Zealand (with a CAGR of +32.3%).

In value terms, Australia ($X) remains the largest hearing aid supplier in Australia and Oceania, comprising 87% of total exports. The second position in the ranking was taken by New Zealand ($X), with a 13% share of total exports.

From 2012 to 2021, the average annual growth rate of value in Australia stood at -26.4%.

Export Prices by Country

The export price in Australia and Oceania stood at $X per unit in 2021, with a decrease of -54% against the previous year. Over the period under review, the export price saw a abrupt decline. The most prominent rate of growth was recorded in 2016 an increase of 46%. Over the period under review, the export prices attained the maximum at $X per unit in 2017; however, from 2018 to 2021, the export prices failed to regain momentum.

Prices varied noticeably country of origin: the country with the highest price was Australia ($X per unit), while New Zealand amounted to $X per unit.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Australia (-8.9%).

Hearing Aid Imports

Imports in Australia and Oceania

In 2021, hearing aid imports in Australia and Oceania expanded significantly to X units, increasing by 6.3% compared with 2020 figures. Total imports indicated a resilient expansion from 2012 to 2021: its volume increased at an average annual rate of +7.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +89.0% against 2012 indices. The pace of growth appeared the most rapid in 2015 with an increase of 18% against the previous year. Over the period under review, imports attained the peak figure in 2021 and are expected to retain growth in years to come.

In value terms, hearing aid imports surged to $X in 2021. Total imports indicated a moderate increase from 2012 to 2021: its value increased at an average annual rate of +4.7% 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 +27.1% against 2019 indices. The pace of growth was the most pronounced in 2016 with an increase of 26% against the previous year. Over the period under review, imports attained the peak figure in 2021 and are expected to retain growth in the near future.

Imports by Country

Australia was the major importer of hearing aids (excl. parts and accessories) in Australia and Oceania, with the volume of imports accounting for X units, which was approx. 86% of total imports in 2021. It was distantly followed by New Zealand (X units), constituting a 14% share of total imports.

Imports into Australia increased at an average annual rate of +6.9% from 2012 to 2021. At the same time, New Zealand (+10.7%) displayed positive paces of growth. Moreover, New Zealand emerged as the fastest-growing importer imported in Australia and Oceania, with a CAGR of +10.7% from 2012-2021. While the share of New Zealand (+3.4 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Australia (-2.8 p.p.) displayed negative dynamics.

In value terms, Australia ($X) constitutes the largest market for imported hearing aids (excl. parts and accessories) in Australia and Oceania, comprising 69% of total imports. The second position in the ranking was taken by New Zealand ($X), with a 30% share of total imports.

In Australia, hearing aid imports expanded at an average annual rate of +2.5% over the period from 2012-2021.

Import Prices by Country

The import price in Australia and Oceania stood at $X per unit in 2021, rising by 11% against the previous year. In general, the import price, however, showed a noticeable decrease. Over the period under review, import prices hit record highs at $X per unit in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

Prices varied noticeably country of destination: the country with the highest price was New Zealand ($X per unit), while Australia amounted to $X per unit.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by New Zealand (+1.9%).

Source: IndexBox Platform

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