Report Update Nov 1, 2024

Chile - Hearing Aids (Excl. Parts and Accessories) - Market Analysis, Forecast, Size, Trends and Insights

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Chile: Hearing Aid Market 2022

Hearing Aid Market Size in Chile

The Chilean hearing aid market surged to $X in 2021, jumping by 37% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, the total consumption indicated a remarkable increase from 2012 to 2021: its value increased at an average annual rate of +6.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market hit record highs in 2021 and is expected to retain growth in the near future.

Hearing Aid Exports

Exports from Chile

After two years of decline, shipments abroad of hearing aids (excl. parts and accessories) increased by 26,393% to X units in 2021. Over the period under review, exports recorded a significant increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, hearing aid exports soared to $X in 2021. Overall, exports recorded strong growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Bolivia (X units) was the main destination for hearing aid exports from Chile, accounting for a approx. 100% share of total exports.

From 2012 to 2021, the average annual growth rate of volume to Bolivia totaled +160.4%.

In value terms, Bolivia ($X) also remains the key foreign market for hearing aid exports from Chile.

From 2012 to 2021, the average annual rate of growth in terms of value to Bolivia totaled +162.3%.

Export Prices by Country

The average hearing aid export price stood at $X per unit in 2021, with a decrease of -90.4% against the previous year. In general, the export price saw a deep contraction. The most prominent rate of growth was recorded in 2013 an increase of 122% against the previous year. The export price peaked at $X per unit in 2014; however, from 2015 to 2021, the export prices stood at a somewhat lower figure.

As there is only one major export destination, the average price level is determined by prices for Bolivia.

From 2012 to 2021, the rate of growth in terms of prices for Bolivia amounted to +0.6% per year.

Hearing Aid Imports

Imports into Chile

In 2021, supplies from abroad of hearing aids (excl. parts and accessories) was finally on the rise to reach X units after two years of decline. Over the period under review, total imports indicated a resilient expansion from 2012 to 2021: its volume increased at an average annual rate of +6.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, hearing aid imports soared to $X in 2021. In general, imports posted prominent growth. The growth pace was the most rapid in 2017 with an increase of 83%. Imports peaked in 2021 and are expected to retain growth in the near future.

Imports by Country

China (X units), Singapore (X units) and Denmark (X units) were the main suppliers of hearing aid imports to Chile, together accounting for 80% of total imports. These countries were followed by Mexico, the United States, Germany, Poland and Spain, which together accounted for a further 14%.

From 2012 to 2021, the biggest increases were in Poland (with a CAGR of +652.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest hearing aid suppliers to Chile were Denmark ($X), Singapore ($X) and China ($X), with a combined 68% share of total imports. Mexico, the United States, Germany, Poland and Spain lagged somewhat behind, together comprising a further 20%.

In terms of the main suppliers, Poland, with a CAGR of +628.1%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average hearing aid import price stood at $X per unit in 2021, waning by -5.7% against the previous year. Over the last nine-year period, it increased at an average annual rate of +1.1%. The pace of growth was the most pronounced in 2017 an increase of 26% against the previous year. The import price peaked at $X per unit in 2019; however, from 2020 to 2021, import prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+13.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

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

South Africa constituted the country with the largest volume of hearing aid consumption, accounting for 36% of total volume. Moreover, hearing aid consumption in South Africa exceeded the figures recorded by the second-largest consumer, the United States, fourfold. The third position in this ranking was occupied by China, with a 7% share.

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

China remains the largest hearing aid producing country worldwide, accounting for 41% of total volume. Moreover, hearing aid production in China exceeded the figures recorded by the second-largest producer, Poland, fivefold. The third position in this ranking was occupied by Indonesia, with a 5% share.

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

In value terms, the largest hearing aid suppliers to Chile were Denmark, Singapore and China, together comprising 69% of total imports. These countries were followed by Mexico, Germany, Poland and Malaysia, which together accounted for a further 16%.

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

In value terms, Ecuador emerged as the key foreign market for hearing aid exports from Chile, comprising 87% of total exports. The second position in the ranking was occupied by Bolivia, with a 13% share of total exports.

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

The average hearing aid export price stood at $52 per unit in 2021, waning by -98.8% against the previous year.

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

In 2021, the average hearing aid import price amounted to $125 per unit, dropping by -16.8% against the previous year.

This report provides an in-depth analysis of the hearing aid market in Chile. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Prodcom 26601433 - Appliances for overcoming deafness (excluding parts and accessories)

Country coverage:

Chile

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Chile
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023