New Zealand: Hearing Aid Market 2022

Hearing Aid Market Size in New Zealand

In 2021, the New Zealand hearing aid market decreased by -8.8% to $X, falling for the fourth year in a row after two years of growth. In general, consumption, however, recorded a remarkable increase. Over the period under review, the market hit record highs at $X in 2017; however, from 2018 to 2021, consumption remained at a lower figure.

Hearing Aid Exports

Exports from New Zealand

In 2021, shipments abroad of hearing aids (excl. parts and accessories) increased by 287% to X units for the first time since 2018, thus ending a two-year declining trend. Over the period under review, exports posted a significant expansion. The pace of growth was the most pronounced in 2018 with an increase of 364% against the previous year. Over the period under review, the exports attained the peak figure in 2021 and are expected to retain growth in the near future.

In value terms, hearing aid exports surged to $X in 2021. Overall, exports saw a prominent increase. The pace of growth appeared the most rapid in 2018 when exports increased by 448%. The exports peaked in 2021 and are expected to retain growth in the immediate term.

Exports by Country

China (X units) was the main destination for hearing aid exports from New Zealand, accounting for a 71% share of total exports. Moreover, hearing aid exports to China exceeded the volume sent to the second major destination, the United States (X units), fivefold. Australia (X units) ranked third in terms of total exports with a 7.4% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to China stood at +35.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+33.4% per year) and Australia (+15.8% per year).

In value terms, the largest markets for hearing aid exported from New Zealand were Australia ($X), Vietnam ($X) and China ($X), together comprising 74% of total exports. The United States, Malaysia and Poland lagged somewhat behind, together accounting for a further 21%.

In terms of the main countries of destination, Malaysia, with a CAGR of +178.6%, saw the highest rates of growth with regard to 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

The average hearing aid export price stood at $X per unit in 2021, with a decrease of -17% against the previous year. Over the period under review, the export price faced a abrupt decrease. The most prominent rate of growth was recorded in 2018 when the average export price increased by 18% against the previous year. Over the period under review, the average export prices hit record highs 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 for the major overseas markets. In 2021, the country with the highest price was Malaysia ($X per unit), while the average price for exports to China ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Malaysia (+95.0%), while the prices for the other major destinations experienced mixed trend patterns.

Hearing Aid Imports

Imports into New Zealand

In 2021, the amount of hearing aids (excl. parts and accessories) imported into New Zealand skyrocketed to X units, jumping by 26% against 2020 figures. In general, imports saw a resilient increase. The most prominent rate of growth was recorded in 2016 with an increase of 153%. Over the period under review, imports attained the peak figure in 2021 and are likely to continue growth in the immediate term.

In value terms, hearing aid imports surged to $X in 2021. Over the period under review, imports continue to indicate a resilient increase. The pace of growth appeared the most rapid in 2016 when imports increased by 151% against the previous year. Imports peaked in 2021 and are expected to retain growth in years to come.

Imports by Country

China (X units), Singapore (X units) and Vietnam (X units) were the main suppliers of hearing aid imports to New Zealand, with a combined 69% share of total imports. These countries were followed by Malaysia, Australia, Mexico, Switzerland and Denmark, which together accounted for a further 30%.

From 2012 to 2021, the biggest increases were in Malaysia (with a CAGR of +124.2%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest hearing aid suppliers to New Zealand were Singapore ($X), China ($X) and Vietnam ($X), together accounting for 72% of total imports. These countries were followed by Australia, Switzerland, Mexico, Malaysia and Denmark, which together accounted for a further 20%.

In terms of the main suppliers, Malaysia, with a CAGR of +143.9%, saw the highest growth rate of 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, picking up by 15% against the previous year. Over the period under review, import price indicated mild growth from 2012 to 2021: its price increased at an average annual rate of +1.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, hearing aid import price increased by +21.3% against 2019 indices. The pace of growth was the most pronounced in 2015 an increase of 47%. Over the period under review, average import prices hit record highs at $X per unit in 2018; however, from 2019 to 2021, import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Mexico (+27.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :