SADC: Hearing Aid Market 2024

Hearing Aid Market Size in SADC

The SADC hearing aid market rose sharply to $X in 2023, with an increase of X% against the previous year. The total consumption indicated a notable increase from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, consumption increased by X% against 2015 indices. The level of consumption peaked in 2023 and is likely to see steady growth in years to come.

Hearing Aid Production in SADC

In value terms, hearing aid production totaled $X in 2023 estimated in export price. In general, production continues to indicate a modest increase. The most prominent rate of growth was recorded in 2018 when the production volume increased by X%. The level of production peaked at $X in 2013; however, from 2014 to 2023, production failed to regain momentum.

Hearing Aid Exports

Exports in SADC

In 2023, hearing aid exports in SADC skyrocketed to X units, increasing by X% against 2022 figures. Overall, exports continue to indicate a remarkable increase. The pace of growth was the most pronounced in 2017 when exports increased by X% against the previous year. Over the period under review, the exports attained the peak figure in 2023 and are expected to retain growth in the near future.

In value terms, hearing aid exports skyrocketed to $X in 2023. In general, exports recorded buoyant growth. The pace of growth was the most pronounced in 2017 when exports increased by X% against the previous year. Over the period under review, the exports reached the peak figure in 2023 and are likely to see gradual growth in the immediate term.

Exports by Country

South Africa dominates exports structure, accounting for X units, which was near X% of total exports in 2023. It was distantly followed by Swaziland (X units), achieving a X% share of total exports. Namibia (X units) took a relatively small share of total exports.

From 2012 to 2023, average annual rates of growth with regard to hearing aid exports from South Africa stood at X%. At the same time, Namibia (X%) and Swaziland (X%) displayed positive paces of growth. Moreover, Namibia emerged as the fastest-growing exporter exported in SADC, with a CAGR of X% from 2012-2023. While the share of Namibia (X p.p.) increased significantly in terms of the total exports from 2012-2023, the share of Swaziland (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, South Africa ($X) remains the largest hearing aid supplier in SADC, comprising X% of total exports. The second position in the ranking was held by Swaziland ($X), with a X% share of total exports.

In South Africa, hearing aid exports increased at an average annual rate of X% over the period from 2012-2023. In the other countries, the average annual rates were as follows: Swaziland (X% per year) and Namibia (X% per year).

Export Prices by Country

The export price in SADC stood at $X per unit in 2023, waning by X% against the previous year. In general, the export price recorded a pronounced setback. The pace of growth appeared the most rapid in 2021 when the export price increased by X%. Over the period under review, the export prices reached the peak figure at $X per unit in 2012; however, from 2013 to 2023, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was South Africa ($X per unit), while Namibia ($X per unit) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Swaziland (X%), while the other leaders experienced a decline in the export price figures.

Hearing Aid Imports

Imports in SADC

In 2023, purchases abroad of hearing aids (excl. parts and accessories) increased by X% to X units, rising for the fourth consecutive year after two years of decline. Overall, imports showed a buoyant increase. The pace of growth appeared the most rapid in 2021 with an increase of X%. Over the period under review, imports reached the peak figure in 2023 and are expected to retain growth in the near future.

In value terms, hearing aid imports skyrocketed to $X in 2023. Total imports indicated a resilient increase from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, imports increased by X% against 2018 indices. The growth pace was the most rapid in 2021 with an increase of X% against the previous year. Over the period under review, imports reached the peak figure in 2023 and are expected to retain growth in years to come.

Imports by Country

South Africa dominates imports structure, amounting to X units, which was approx. X% of total imports in 2023. Namibia (X units) took a relatively small share of total imports.

From 2012 to 2023, average annual rates of growth with regard to hearing aid imports into South Africa stood at X%. At the same time, Namibia (X%) displayed positive paces of growth. Moreover, Namibia emerged as the fastest-growing importer imported in SADC, with a CAGR of X% from 2012-2023. While the share of South Africa (X p.p.) and Namibia (X p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, South Africa ($X) constitutes the largest market for imported hearing aids (excl. parts and accessories) in SADC, comprising X% of total imports. The second position in the ranking was held by Namibia ($X), with a X% share of total imports.

From 2012 to 2023, the average annual growth rate of value in South Africa stood at X%.

Import Prices by Country

The import price in SADC stood at $X per unit in 2023, falling by X% against the previous year. In general, the import price showed a noticeable slump. The pace of growth appeared the most rapid in 2019 when the import price increased by X%. As a result, import price reached the peak level of $X per unit. From 2020 to 2023, the import prices remained at a somewhat lower figure.

Average prices varied noticeably amongst the major importing countries. In 2023, amid the top importers, the country with the highest price was South Africa ($X per unit), while Namibia amounted to $X per unit.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by South Africa (X%).

Source: IndexBox Platform