Western Africa: Hearing Aid Market 2022

Hearing Aid Market Size in Western Africa

In 2021, after four years of growth, there was significant decline in the West African hearing aid market, when its value decreased by -12.5% to $X. Overall, consumption, however, posted a strong expansion. As a result, consumption attained the peak level of $X, and then shrank in the following year.

Hearing Aid Production in Western Africa

In value terms, hearing aid production shrank to $X in 2021 estimated in export price. Over the period under review, production, however, showed a resilient expansion. The most prominent rate of growth was recorded in 2020 with an increase of 31%. As a result, production attained the peak level of $X, and then declined in the following year.

Hearing Aid Exports

Exports in Western Africa

In 2021, the amount of hearing aids (excl. parts and accessories) exported in Western Africa expanded markedly to X units, picking up by 9.5% compared with 2020 figures. Over the period under review, exports continue to indicate temperate growth. The growth pace was the most rapid in 2019 when exports increased by 97%. As a result, the exports reached the peak of X units. From 2020 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, hearing aid exports reduced to $X in 2021. Overall, exports showed a resilient expansion. The growth pace was the most rapid in 2019 when exports increased by 83%. As a result, the exports attained the peak of $X. From 2020 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

In 2021, Nigeria (X units) was the largest exporter of hearing aids (excl. parts and accessories), constituting 68% of total exports. Senegal (X units) took the second position in the ranking, followed by Benin (X units). All these countries together held near 23% share of total exports. Guinea (X units) and Cote d'Ivoire (X units) followed a long way behind the leaders.

Exports from Nigeria increased at an average annual rate of +5.3% from 2012 to 2021. At the same time, Cote d'Ivoire (+29.7%) and Benin (+10.1%) displayed positive paces of growth. Moreover, Cote d'Ivoire emerged as the fastest-growing exporter exported in Western Africa, with a CAGR of +29.7% from 2012-2021. By contrast, Senegal (-6.9%) and Guinea (-37.3%) illustrated a downward trend over the same period. While the share of Nigeria (+9.4 p.p.), Benin (+4.2 p.p.), Guinea (+4.2 p.p.) and Cote d'Ivoire (+2.6 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Senegal (-21.3 p.p.) displayed negative dynamics.

In value terms, Nigeria ($X) remains the largest hearing aid supplier in Western Africa, comprising 68% of total exports. The second position in the ranking was taken by Senegal ($X), with a 12% share of total exports. It was followed by Cote d'Ivoire, with a 7.6% share.

In Nigeria, hearing aid exports increased at an average annual rate of +13.2% over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: Senegal (-2.7% per year) and Cote d'Ivoire (+57.4% per year).

Export Prices by Country

In 2021, the export price in Western Africa amounted to $X per unit, which is down by -9.2% against the previous year. Export price indicated a notable expansion from 2012 to 2021: its price increased at an average annual rate of +4.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, hearing aid export price increased by +71.3% against 2017 indices. The pace of growth appeared the most rapid in 2013 when the export price increased by 77% against the previous year. The level of export peaked at $X per unit in 2014; however, from 2015 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably country of origin: the country with the highest price was Cote d'Ivoire ($X per unit), while Guinea ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Guinea (+24.0%), while the other leaders experienced more modest paces of growth.

Hearing Aid Imports

Imports in Western Africa

Hearing aid imports reached X units in 2021, growing by 13% on 2020 figures. Over the period under review, imports enjoyed a buoyant expansion. The growth pace was the most rapid in 2015 when imports increased by 59% against the previous year. The volume of import peaked in 2021 and is likely to see gradual growth in years to come.

In value terms, hearing aid imports soared to $X in 2021. Total imports indicated buoyant growth from 2012 to 2021: its value increased at an average annual rate of +6.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +88.8% against 2017 indices. The most prominent rate of growth was recorded in 2015 when imports increased by 43% against the previous year. Over the period under review, imports attained the peak figure in 2021 and are expected to retain growth in years to come.

Imports by Country

In 2021, Nigeria (X units) represented the largest importer of hearing aids (excl. parts and accessories), constituting 61% of total imports. It was distantly followed by Guinea (X units), Cote d'Ivoire (X units) and Senegal (X units), together making up a 31% share of total imports. The following importers - Benin (X units) and Togo (X units) - each amounted to a 3.6% share of total imports.

Imports into Nigeria increased at an average annual rate of +19.0% from 2012 to 2021. At the same time, Guinea (+54.2%), Benin (+12.9%) and Senegal (+7.8%) displayed positive paces of growth. Moreover, Guinea emerged as the fastest-growing importer imported in Western Africa, with a CAGR of +54.2% from 2012-2021. Togo experienced a relatively flat trend pattern. By contrast, Cote d'Ivoire (-6.5%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Nigeria and Guinea increased by +30 and +15 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X) constitutes the largest market for imported hearing aids (excl. parts and accessories) in Western Africa, comprising 67% of total imports. The second position in the ranking was held by Cote d'Ivoire ($X), with a 10% share of total imports. It was followed by Senegal, with a 6.2% share.

From 2012 to 2021, the average annual growth rate of value in Nigeria stood at +14.8%. The remaining importing countries recorded the following average annual rates of imports growth: Cote d'Ivoire (-6.7% per year) and Senegal (+8.4% per year).

Import Prices by Country

In 2021, the import price in Western Africa amounted to $X per unit, picking up by 4.2% against the previous year. Overall, the import price, however, continues to indicate a pronounced downturn. The most prominent rate of growth was recorded in 2017 when the import price increased by 17% against the previous year. Over the period under review, import prices reached the maximum at $X per unit in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Senegal (+0.5%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :