South-Eastern Asia: Hearing Aid Market 2022

Hearing Aid Market Size in South-Eastern Asia

The Southeast Asian hearing aid market expanded remarkably to $X in 2021, with an increase of 6.8% against the previous year. In general, consumption continues to indicate a relatively flat trend pattern. The level of consumption peaked at $X in 2014; however, from 2015 to 2021, consumption failed to regain momentum.

Hearing Aid Production in South-Eastern Asia

In value terms, hearing aid production soared to $X in 2021 estimated in export price. The total production indicated a noticeable expansion from 2012 to 2021: its value increased at an average annual rate of +3.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -13.5% against 2019 indices. The growth pace was the most rapid in 2018 when the production volume increased by 26% against the previous year. The level of production peaked at $X in 2019; however, from 2020 to 2021, production failed to regain momentum.

Hearing Aid Exports

Exports in South-Eastern Asia

In 2021, approx. X units of hearing aids (excl. parts and accessories) were exported in South-Eastern Asia; increasing by 70% on the previous year's figure. Overall, exports posted prominent growth. The most prominent rate of growth was recorded in 2018 with an increase of 82%. The volume of export peaked in 2021 and is expected to retain growth in years to come.

In value terms, hearing aid exports soared to $X in 2021. Over the period under review, exports saw a buoyant increase. The growth pace was the most rapid in 2018 with an increase of 83%. Over the period under review, the exports attained the maximum at $X in 2019; however, from 2020 to 2021, the exports failed to regain momentum.

Exports by Country

The shipments of the three major exporters of hearing aids (excl. parts and accessories), namely Singapore, Vietnam and Malaysia, represented more than two-thirds of total export. It was distantly followed by the Philippines (X units), mixing up a 6.2% share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by the Philippines (with a CAGR of +89.1%), while the other leaders experienced more modest paces of growth.

In value terms, the largest hearing aid supplying countries in South-Eastern Asia were Singapore ($X), Vietnam ($X) and Malaysia ($X), together comprising 92% of total exports. These countries were followed by the Philippines, which accounted for a further 8.3%.

The Philippines, with a CAGR of +77.5%, saw the highest growth rate of the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in South-Eastern Asia stood at $X per unit in 2021, declining by -11% against the previous year. In general, the export price showed a perceptible contraction. The pace of growth appeared the most rapid in 2013 an increase of 33%. The level of export peaked at $X per unit in 2014; however, from 2015 to 2021, the export prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Malaysia (+5.7%), while the other leaders experienced a decline in the export price figures.

Hearing Aid Imports

Imports in South-Eastern Asia

Hearing aid imports totaled X units in 2021, approximately equating the previous year's figure. Over the period under review, imports recorded temperate growth. The growth pace was the most rapid in 2019 when imports increased by 39%. As a result, imports attained the peak of X units. From 2020 to 2021, the growth of imports remained at a lower figure.

In value terms, hearing aid imports totaled $X in 2021. Total imports indicated a moderate increase from 2012 to 2021: its value increased at an average annual rate of +2.4% 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 +103.3% against 2015 indices. The pace of growth was the most pronounced in 2016 with an increase of 43% against the previous year. Over the period under review, imports reached the maximum in 2021 and are likely to continue growth in the near future.

Imports by Country

The Philippines (X units) and Singapore (X units) represented roughly 77% of total imports in 2021. It was distantly followed by Malaysia (X units), committing an 18% share of total imports. Thailand (X units) followed a long way behind the leaders.

From 2012 to 2021, the biggest increases were in the Philippines (with a CAGR of +53.5%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Singapore ($X) constitutes the largest market for imported hearing aids (excl. parts and accessories) in South-Eastern Asia, comprising 56% of total imports. The second position in the ranking was held by the Philippines ($X), with a 20% share of total imports. It was followed by Malaysia, with a 7.7% share.

From 2012 to 2021, the average annual growth rate of value in Singapore amounted to -2.2%. In the other countries, the average annual rates were as follows: the Philippines (+39.2% per year) and Malaysia (+8.5% per year).

Import Prices by Country

In 2021, the import price in South-Eastern Asia amounted to $X per unit, increasing by 5.3% against the previous year. Over the period under review, the import price, however, showed a perceptible decrease. The pace of growth was the most pronounced in 2014 an increase of 9.6% against the previous year. As a result, import price attained the peak level of $X per unit. From 2015 to 2021, the import prices remained at a somewhat lower figure.

Prices varied noticeably country of destination: the country with the highest price was Singapore ($X per unit), while Malaysia ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Malaysia (+1.8%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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