Oman: Hearing Aid Market 2022

Hearing Aid Market Size in Oman

In 2021, the Omani hearing aid market decreased by -2.1% to $X for the first time since 2017, thus ending a three-year rising trend. In general, consumption continues to indicate resilient growth. Hearing aid consumption peaked at $X in 2020, and then dropped slightly in the following year.

Hearing Aid Exports

Exports from Oman

In 2021, after three years of decline, there was significant growth in overseas shipments of hearing aids (excl. parts and accessories), when their volume increased by 33% to X units. Overall, exports, however, faced a sharp curtailment. The most prominent rate of growth was recorded in 2015 when exports increased by 300% against the previous year. The exports peaked at X units in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, hearing aid exports dropped rapidly to $X in 2021. Over the period under review, exports, however, recorded a dramatic contraction. The most prominent rate of growth was recorded in 2020 with an increase of 188%. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Singapore (X units) was the main destination for hearing aid exports from Oman, accounting for a 75% share of total exports. Moreover, hearing aid exports to Singapore exceeded the volume sent to the second major destination, Trinidad and Tobago (X units), threefold.

From 2012 to 2021, the average annual rate of growth in terms of volume to Singapore was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Trinidad and Tobago (-66.7% per year) and Germany (-16.4% per year).

In value terms, Trinidad and Tobago ($X), Singapore ($X) and Germany ($X) appeared to be the largest markets for hearing aid exported from Oman worldwide, together accounting for 100% of total exports.

Singapore, with a CAGR of 0.0%, saw the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced a decline.

Export Prices by Country

In 2021, the average hearing aid export price amounted to $X per unit, reducing by -42.5% against the previous year. Overall, the export price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 an increase of 214%. As a result, the export price attained the peak level of $X per unit, and then dropped remarkably in the following year.

Prices varied noticeably country of destination: the country with the highest price was Trinidad and Tobago ($X per unit), while the average price for exports to France ($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 Trinidad and Tobago (+71.5%), while the prices for the other major destinations experienced mixed trend patterns.

Hearing Aid Imports

Imports into Oman

In 2021, the amount of hearing aids (excl. parts and accessories) imported into Oman stood at X units, flattening at 2020. Over the period under review, imports continue to indicate a pronounced expansion. The most prominent rate of growth was recorded in 2018 with an increase of 111% against the previous year. Over the period under review, imports reached the maximum at X units in 2019; however, from 2020 to 2021, imports remained at a lower figure.

In value terms, hearing aid imports shrank modestly to $X in 2021. In general, imports continue to indicate a resilient expansion. The most prominent rate of growth was recorded in 2018 with an increase of 108%. Over the period under review, imports reached the maximum at $X in 2020, and then contracted slightly in the following year.

Imports by Country

The United Arab Emirates (X units), Singapore (X units) and the Netherlands (X units) were the main suppliers of hearing aid imports to Oman, with a combined 90% share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Singapore (with a CAGR of +35.6%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest hearing aid suppliers to Oman were the United Arab Emirates ($X), Singapore ($X) and the Netherlands ($X), together accounting for 90% of total imports.

The Netherlands, with a CAGR of +39.8%, saw the highest rates of growth with regard to the value of imports, among the main suppliers 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, waning by -3.5% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +2.4%. The most prominent rate of growth was recorded in 2020 when the average import price increased by 37%. As a result, import price reached the peak level of $X per unit, and then dropped in the following year.

Average prices varied noticeably amongst the major supplying countries. In 2021, the countries with the highest prices were the UK ($X per unit) and Switzerland ($X per unit), while the price for the United Arab Emirates ($X per unit) and Singapore ($X per unit) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the UK (+7.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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