Northern America: Hearing Aid Market 2022

Hearing Aid Market Size in Northern America

The North American hearing aid market surged to $X in 2021, jumping by 24% against the previous year. Over the period under review, consumption, however, recorded a perceptible contraction. The level of consumption peaked at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Hearing Aid Production in Northern America

In value terms, hearing aid production stood at $X in 2021 estimated in export price. Overall, production, however, continues to indicate a mild reduction. The most prominent rate of growth was recorded in 2016 with an increase of 6.8%. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2021, production stood at a somewhat lower figure.

Hearing Aid Exports

Exports in Northern America

In 2021, exports of hearing aids (excl. parts and accessories) in Northern America surged to X units, picking up by 23% compared with 2020 figures. Over the period under review, exports showed prominent growth. The growth pace was the most rapid in 2015 with an increase of 51% against the previous year. The volume of export peaked in 2021 and is expected to retain growth in the immediate term.

In value terms, hearing aid exports skyrocketed to $X in 2021. Total exports indicated prominent growth from 2012 to 2021: its value increased at an average annual rate of +8.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

The United States prevails in exports structure, amounting to X units, which was approx. 95% of total exports in 2021. It was distantly followed by Canada (X units), comprising a 4.7% share of total exports.

The United States was also the fastest-growing in terms of the hearing aids (excl. parts and accessories) exports, with a CAGR of +9.8% from 2012 to 2021. At the same time, Canada (+8.8%) displayed positive paces of growth. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, the United States ($X) remains the largest hearing aid supplier in Northern America, comprising 94% of total exports. The second position in the ranking was held by Canada ($X), with a 5.8% share of total exports.

From 2012 to 2021, the average annual growth rate of value in the United States stood at +8.5%.

Export Prices by Country

In 2021, the export price in Northern America amounted to $X per unit, growing by 14% against the previous year. Overall, the export price, however, saw a slight slump. The most prominent rate of growth was recorded in 2014 an increase of 24% against the previous year. As a result, the export price reached the peak level of $X per unit. From 2015 to 2021, the the export prices remained at a lower figure.

Average prices varied noticeably amongst the major exporting countries. In 2021, the country with the highest price was Canada ($X per unit), while the United States stood at $X per unit.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Canada (+2.0%).

Hearing Aid Imports

Imports in Northern America

In 2021, the amount of hearing aids (excl. parts and accessories) imported in Northern America surged to X units, with an increase of 25% on the previous year's figure. Total imports indicated a prominent expansion from 2012 to 2021: its volume increased at an average annual rate of +6.4% 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 +78.5% against 2014 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, hearing aid imports surged to $X in 2021. Total imports indicated a resilient expansion from 2012 to 2021: its value increased at an average annual rate of +6.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

The United States represented the largest importer of hearing aids (excl. parts and accessories) in Northern America, with the volume of imports recording X units, which was near 87% of total imports in 2021. It was distantly followed by Canada (X units), comprising a 13% share of total imports.

From 2012 to 2021, average annual rates of growth with regard to hearing aid imports into the United States stood at +6.0%. At the same time, Canada (+10.1%) displayed positive paces of growth. Moreover, Canada emerged as the fastest-growing importer imported in Northern America, with a CAGR of +10.1% from 2012-2021. From 2012 to 2021, the share of Canada increased by +3.3 percentage points.

In value terms, the United States ($X) constitutes the largest market for imported hearing aids (excl. parts and accessories) in Northern America, comprising 92% of total imports. The second position in the ranking was taken by Canada ($X), with a 7.9% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of value in the United States amounted to +7.0%.

Import Prices by Country

The import price in Northern America stood at $X per unit in 2021, surging by 13% against the previous year. Over the period under review, the import price saw a relatively flat trend pattern. The level of import peaked 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 importing countries. In 2021, the country with the highest price was the United States ($X per unit), while Canada totaled $X per unit.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+1.0%).

Source: IndexBox Platform

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