Middle East: Hearing Aid Market 2022

Hearing Aid Market Size in the Middle East

The Middle Eastern hearing aid market rose notably to $X in 2021, growing by 6.6% against the previous year. Over the period under review, consumption saw a buoyant expansion. Over the period under review, the market reached the peak level in 2021 and is expected to retain growth in the near future.

Hearing Aid Production in the Middle East

In value terms, hearing aid production dropped to $X in 2021 estimated in export price. In general, production, however, recorded a prominent increase. The pace of growth appeared the most rapid in 2017 with an increase of 187% against the previous year. Over the period under review, production attained the peak level at $X in 2018; however, from 2019 to 2021, production stood at a somewhat lower figure.

Hearing Aid Exports

Exports in the Middle East

In 2021, the amount of hearing aids (excl. parts and accessories) exported in the Middle East skyrocketed to X units, picking up by 127% on the previous year. Overall, exports posted prominent growth. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, hearing aid exports soared to $X in 2021. Over the period under review, exports showed a resilient increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Turkey represented the key exporter of hearing aids (excl. parts and accessories) in the Middle East, with the volume of exports recording X units, which was approx. 48% of total exports in 2021. Israel (X units) held the second position in the ranking, distantly followed by the United Arab Emirates (X units) and Jordan (X units). All these countries together took approx. 50% share of total exports.

From 2012 to 2021, the biggest increases were in Turkey (with a CAGR of +10.9%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Turkey ($X), Israel ($X) and the United Arab Emirates ($X) constituted the countries with the highest levels of exports in 2021, together accounting for 88% of total exports.

Among the main exporting countries, Turkey, with a CAGR of +14.9%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the export price in the Middle East amounted to $X per unit, growing by 8% against the previous year. Export price indicated a slight expansion from 2012 to 2021: its price increased at an average annual rate of +1.7% 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 export price decreased by -19.6% against 2018 indices. The most prominent rate of growth was recorded in 2014 when the export price increased by 70% against the previous year. The level of export peaked at $X per unit in 2018; however, from 2019 to 2021, the export prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major exporting countries. In 2021, major exporting countries recorded the following prices: in Israel ($X per unit) and Jordan ($X per unit), while Turkey ($X per unit) and the United Arab Emirates ($X per unit) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Israel (+3.7%), while the other leaders experienced more modest paces of growth.

Hearing Aid Imports

Imports in the Middle East

In 2021, supplies from abroad of hearing aids (excl. parts and accessories) increased by 46% to X units, rising for the fifth consecutive year after two years of decline. In general, imports continue to indicate a strong increase. 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. Total imports indicated a remarkable increase from 2012 to 2021: its value increased at an average annual rate of +6.6% 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 +147.9% against 2016 indices. The most prominent rate of growth was recorded in 2017 when imports increased by 42% against the previous year. Over the period under review, imports reached the peak figure in 2021 and are expected to retain growth in years to come.

Imports by Country

Israel (X units) and Turkey (X units) were the major importers of hearing aids (excl. parts and accessories) in 2021, recording near 31% and 30% of total imports, respectively. Saudi Arabia (X units) ranks next in terms of the total imports with a 19% share, followed by the United Arab Emirates (7.1%) and Iran (6.6%).

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Israel (with a CAGR of +20.2%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Israel ($X), Saudi Arabia ($X) and Turkey ($X) appeared to be the countries with the highest levels of imports in 2021, together comprising 78% of total imports.

Among the main importing countries, Saudi Arabia, with a CAGR of +18.2%, recorded 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 import price in the Middle East stood at $X per unit in 2021, shrinking by -3.4% against the previous year. Overall, the import price showed a perceptible decrease. The growth pace was the most rapid in 2018 an increase of 7%. The level of import peaked at $X per unit in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was Iran ($X per unit), while Turkey ($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 Arab Emirates (+7.6%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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