EU: Hearing Aid Market 2022

Hearing Aid Market Size in the EU

In 2021, the EU hearing aid market increased by 23% to $X, rising for the sixth year in a row after two years of decline. The total consumption indicated prominent growth from 2012 to 2021: its value increased at an average annual rate of +5.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +84.1% against 2015 indices. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Hearing Aid Production in the EU

In value terms, hearing aid production stood at $X in 2021 estimated in export price. The total production indicated a buoyant expansion from 2012 to 2021: its value increased at an average annual rate of +6.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -1.1% against 2018 indices. The pace of growth appeared the most rapid in 2017 when the production volume increased by 32%. Over the period under review, production attained the maximum level at $X in 2018; afterwards, it flattened through to 2021.

Hearing Aid Exports

Exports in the EU

Hearing aid exports surged to X units in 2021, picking up by 212% on 2020 figures. Over the period under review, exports saw a significant expansion. 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. In general, exports enjoyed a prominent expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Poland was the main exporting country with an export of about X units, which recorded 80% of total exports. Denmark (X units) ranks second in terms of the total exports with an 11% share, followed by the Netherlands (7.2%).

Poland was also the fastest-growing in terms of the hearing aids (excl. parts and accessories) exports, with a CAGR of +90.8% from 2012 to 2021. At the same time, the Netherlands (+56.4%) and Denmark (+13.4%) displayed positive paces of growth. While the share of Poland (+76 p.p.) and the Netherlands (+4.8 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Denmark (-54 p.p.) displayed negative dynamics.

In value terms, Poland ($X) remains the largest hearing aid supplier in the European Union, comprising 53% of total exports. The second position in the ranking was taken by the Netherlands ($X), with a 22% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value in Poland amounted to +56.3%. In the other countries, the average annual rates were as follows: the Netherlands (+41.3% per year) and Denmark (-4.8% per year).

Export Prices by Country

In 2021, the export price in the European Union amounted to $X per unit, reducing by -55.3% against the previous year. In general, the export price showed a dramatic descent. The pace of growth appeared the most rapid in 2017 an increase of 4.7% against the previous year. 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.

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was the Netherlands ($X per unit), while Poland ($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 Netherlands (-9.6%), while the other leaders experienced a decline in the export price figures.

Hearing Aid Imports

Imports in the EU

For the seventh year in a row, the European Union recorded growth in supplies from abroad of hearing aids (excl. parts and accessories), which increased by 46% to X units in 2021. Overall, imports continue to indicate prominent growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, hearing aid imports surged to $X in 2021. In general, imports continue to indicate resilient growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

The countries with the highest levels of hearing aid imports in 2021 were France (X units), the Netherlands (X units), Poland (X units) and Denmark (X units), together accounting for 74% of total import. It was distantly followed by Germany (X units), comprising a 7.5% share of total imports. Italy (X units) and Spain (X units) followed a long way behind the leaders.

From 2012 to 2021, the biggest increases were in Poland (with a CAGR of +46.5%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, France ($X), Germany ($X) and the Netherlands ($X) were the countries with the highest levels of imports in 2021, together accounting for 61% of total imports. Poland, Spain, Denmark and Italy lagged somewhat behind, together comprising a further 23%.

Poland, with a CAGR of +31.9%, recorded the highest growth rate of the value of imports, in terms of 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 the European Union stood at $X per unit in 2021, shrinking by -9.4% against the previous year. In general, the import price recorded a deep reduction. The growth pace was the most rapid in 2014 when the import price increased by 5%. As a result, import price attained the peak level of $X per unit. From 2015 to 2021, the import prices remained at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (+5.4%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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