South Africa: Hearing Aid Market 2022

Hearing Aid Market Size in South Africa

The South African hearing aid market surged to $X in 2021, picking up by 179% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption showed a resilient expansion. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Hearing Aid Exports

Exports from South Africa

In 2021, shipments abroad of hearing aids (excl. parts and accessories) increased by 39% to X units, rising for the second consecutive year after two years of decline. Overall, exports recorded perceptible growth. The most prominent rate of growth was recorded in 2017 when exports increased by 87% against the previous year. As a result, the exports attained the peak of X units. From 2018 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, hearing aid exports expanded remarkably to $X in 2021. In general, exports saw a prominent expansion. The pace of growth was the most pronounced in 2015 when exports increased by 75% against the previous year. As a result, the exports reached the peak of $X. From 2016 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

The Philippines (X units) was the main destination for hearing aid exports from South Africa, with a 44% share of total exports. Moreover, hearing aid exports to the Philippines exceeded the volume sent to the second major destination, Namibia (X units), threefold. The third position in this ranking was held by Belgium (X units), with a 10% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to the Philippines stood at +118.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Namibia (-4.7% per year) and Belgium (+86.0% per year).

In value terms, the largest markets for hearing aid exported from South Africa were Namibia ($X), the Philippines ($X) and the UK ($X), together accounting for 66% of total exports. Singapore, Botswana, Belgium, Mauritius, Poland, Mozambique and Swaziland lagged somewhat behind, together comprising a further 16%.

Mozambique, with a CAGR of +156.0%, recorded 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 more modest paces of growth.

Export Prices by Country

The average hearing aid export price stood at $X per unit in 2021, which is down by -19.9% against the previous year. In general, the export price, however, continues to indicate a noticeable expansion. The most prominent rate of growth was recorded in 2018 an increase of 79% against the previous year. Over the period under review, the average export prices reached the peak figure at $X per unit in 2019; however, from 2020 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major overseas markets. In 2021, the country with the highest price was the UK ($X per unit), while the average price for exports to Mozambique ($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 Namibia (+14.7%), while the prices for the other major destinations experienced more modest paces of growth.

Hearing Aid Imports

Imports into South Africa

In 2021, hearing aid imports into South Africa surged to X units, growing by 236% compared with the previous year. Over the period under review, imports continue to indicate significant growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, hearing aid imports skyrocketed to $X in 2021. The total import value increased at an average annual rate of +5.5% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2017 with an increase of 24% against the previous year. Imports peaked in 2021 and are likely to see steady growth in years to come.

Imports by Country

In 2021, China (X units) constituted the largest supplier of hearing aid to South Africa, with a 63% share of total imports. Moreover, hearing aid imports from China exceeded the figures recorded by the second-largest supplier, Australia (X units), fivefold. Poland (X units) ranked third in terms of total imports with a 7.5% share.

From 2012 to 2021, the average annual growth rate of volume from China stood at +31.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Australia (+785.5% per year) and Poland (+138.4% per year).

In value terms, the largest hearing aid suppliers to South Africa were Singapore ($X), China ($X) and Australia ($X), with a combined 55% share of total imports.

In terms of the main suppliers, Australia, with a CAGR of +357.8%, 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 average hearing aid import price stood at $X per unit in 2021, with a decrease of -64.3% against the previous year. In general, the import price continues to indicate a abrupt shrinkage. The most prominent rate of growth was recorded in 2014 when the average import price increased by 19% against the previous year. As a result, import price attained the peak level of $X per unit. From 2015 to 2021, the average 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 Switzerland ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Poland (+19.3%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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