Eastern Asia: Hearing Aid Market 2022

Hearing Aid Market Size in Eastern Asia

The East Asian hearing aid market rose modestly to $X in 2021, picking up by 4.5% against the previous year. The market value increased at an average annual rate of +1.0% over the period from 2012 to 2021; however, the trend pattern remained relatively stable, with only minor fluctuations throughout the analyzed period. As a result, consumption attained the peak level of $X. From 2014 to 2021, the growth of the market remained at a somewhat lower figure.

Hearing Aid Production in Eastern Asia

In value terms, hearing aid production expanded modestly to $X in 2021 estimated in export price. Over the period under review, production, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 with an increase of 7.8%. As a result, production attained the peak level of $X. From 2014 to 2021, production growth remained at a lower figure.

Hearing Aid Exports

Exports in Eastern Asia

In 2021, exports of hearing aids (excl. parts and accessories) in Eastern Asia soared to X units, jumping by 16% against 2020. Total exports indicated a noticeable increase from 2012 to 2021: its volume increased at an average annual rate of +4.1% 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 -18.0% against 2019 indices. The pace of growth was the most pronounced in 2019 when exports increased by 26% against the previous year. 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. Over the period under review, exports, however, continue to indicate a relatively flat trend pattern. The level of export peaked at $X in 2013; however, from 2014 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

The biggest shipments were from China (X units), together accounting for 98% of total export.

China was also the fastest-growing in terms of the hearing aids (excl. parts and accessories) exports, with a CAGR of +5.4% from 2012 to 2021. China (+11 p.p.) significantly strengthened its position in terms of the total exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) also remains the largest hearing aid supplier in Eastern Asia.

In China, hearing aid exports remained relatively stable over the period from 2012-2021.

Export Prices by Country

In 2021, the export price in Eastern Asia amounted to $X per unit, increasing by 22% against the previous year. Overall, the export price, however, recorded a pronounced descent. The pace of growth was the most pronounced in 2020 an increase of 28%. Over the period under review, the export prices reached the peak figure at $X per unit in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

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

From 2012 to 2021, the rate of growth in terms of prices for China amounted to -4.6% per year.

Hearing Aid Imports

Imports in Eastern Asia

Hearing aid imports skyrocketed to X units in 2021, rising by 33% against 2020. Over the period under review, imports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when imports increased by 53%. The volume of import peaked at X units in 2017; however, from 2018 to 2021, imports stood at a somewhat lower figure.

In value terms, hearing aid imports soared to $X in 2021. Total imports indicated notable growth from 2012 to 2021: its value increased at an average annual rate of +3.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2015 with an increase of 27%. The level of import peaked in 2021 and is expected to retain growth in the near future.

Imports by Country

Japan represented the major importer of hearing aids (excl. parts and accessories) in Eastern Asia, with the volume of imports accounting for X units, which was approx. 47% of total imports in 2021. It was distantly followed by China (X units), South Korea (X units), Hong Kong SAR (X units) and Taiwan (Chinese) (X units), together comprising a 53% share of total imports.

From 2012 to 2021, the biggest increases were in South Korea (with a CAGR of +19.7%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Japan ($X) constitutes the largest market for imported hearing aids (excl. parts and accessories) in Eastern Asia, comprising 58% of total imports. The second position in the ranking was taken by China ($X), with an 18% share of total imports. It was followed by South Korea, with a 14% share.

From 2012 to 2021, the average annual growth rate of value in Japan stood at +1.2%. In the other countries, the average annual rates were as follows: China (+6.9% per year) and South Korea (+19.4% per year).

Import Prices by Country

In 2021, the import price in Eastern Asia amounted to $X per unit, declining by -7.5% against the previous year. Import price indicated a temperate expansion from 2012 to 2021: its price increased at an average annual rate of +3.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, hearing aid import price increased by +9.8% against 2015 indices. The pace of growth appeared the most rapid in 2015 when the import price increased by 33%. Over the period under review, import prices attained the peak figure at $X per unit in 2020, and then shrank in the following year.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+21.0%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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