Norway: Hearing Aid Market 2022

Hearing Aid Market Size in Norway

The Norwegian hearing aid market soared to $X in 2021, growing by 36% against the previous year. In general, the total consumption indicated a strong increase from 2012 to 2021: its value increased at an average annual rate of +10.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +20.5% against 2018 indices. Over the period under review, the market reached the maximum level in 2021 and is likely to continue growth in the immediate term.

Hearing Aid Production in Norway

In value terms, hearing aid production reduced markedly to $X in 2021 estimated in export price. In general, production faced a drastic downturn. Over the period under review, production reached the peak level at $X in 2012; however, from 2013 to 2021, production stood at a somewhat lower figure.

Hearing Aid Exports

Exports from Norway

Hearing aid exports from Norway skyrocketed to X units in 2021, rising by 107% on 2020. Overall, exports showed 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 rose remarkably to $X in 2021. In general, total exports indicated buoyant growth from 2012 to 2021: its value increased at an average annual rate of +10.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +47.7% against 2018 indices. The pace of growth appeared the most rapid in 2014 when exports increased by 43% against the previous year. Over the period under review, the exports hit record highs in 2021 and are likely to see steady growth in the immediate term.

Exports by Country

The UK (X units) was the main destination for hearing aid exports from Norway, accounting for a 69% share of total exports. Moreover, hearing aid exports to the UK exceeded the volume sent to the second major destination, the Netherlands (X units), sixfold. The third position in this ranking was taken by Poland (X units), with an 8.8% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to the UK stood at +53.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (+221.8% per year) and Poland (-0.6% per year).

In value terms, the largest markets for hearing aid exported from Norway were the Netherlands ($X), Poland ($X) and the UK ($X), with a combined 85% share of total exports.

Among the main countries of destination, the Netherlands, with a CAGR of +227.8%, recorded 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, shrinking by -46.2% against the previous year. In general, the export price showed a deep setback. The most prominent rate of growth was recorded in 2014 an increase of 26%. As a result, the export price attained the peak level of $X per unit. From 2015 to 2021, the the average export prices remained at a lower figure.

Prices varied noticeably country of destination: the country with the highest price was the Netherlands ($X per unit), while the average price for exports to the UK ($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 the Philippines (+30.1%), while the prices for the other major destinations experienced more modest paces of growth.

Hearing Aid Imports

Imports into Norway

In 2021, the amount of hearing aids (excl. parts and accessories) imported into Norway skyrocketed to X units, rising by 88% compared with the previous year's figure. In general, imports saw a prominent increase. 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. Overall, total imports indicated a prominent increase from 2012 to 2021: its value increased at an average annual rate of +11.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2013 with an increase of 52% against the previous year. Over the period under review, imports reached the maximum in 2021 and are expected to retain growth in the immediate term.

Imports by Country

Poland (X units), China (X units) and Vietnam (X units) were the main suppliers of hearing aid imports to Norway, together accounting for 81% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Vietnam (with a CAGR of +238.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Vietnam ($X), Poland ($X) and China ($X) appeared to be the largest hearing aid suppliers to Norway, with a combined 75% share of total imports.

Among the main suppliers, Vietnam, with a CAGR of +254.1%, saw 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

In 2021, the average hearing aid import price amounted to $X per unit, with a decrease of -35.7% against the previous year. Overall, the import price recorded a slight downturn. The growth pace was the most rapid in 2016 an increase of 30%. Over the period under review, average import prices hit record highs at $X per unit in 2019; however, from 2020 to 2021, import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the UK (+14.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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