EU: Hearing Aid Market 2024

Hearing Aid Market Size in the EU

The EU hearing aid market contracted significantly to $X in 2023, dropping by X% against the previous year. Over the period under review, consumption, however, posted perceptible growth. As a result, consumption reached the peak level of $X, and then shrank rapidly in the following year.

Hearing Aid Production in the EU

In value terms, hearing aid production shrank to $X in 2023 estimated in export price. The total production indicated measured growth 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, production increased by X% against 2021 indices. The pace of growth appeared the most rapid in 2018 with an increase of X%. Over the period under review, production reached the peak level at $X in 2020; however, from 2021 to 2023, production failed to regain momentum.

Hearing Aid Exports

Exports in the EU

In 2023, exports of hearing aids (excl. parts and accessories) in the European Union soared to X units, growing by X% against the previous year's figure. In general, exports showed a prominent increase. The most prominent rate of growth was recorded in 2021 when exports increased by X%. 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. Over the period under review, exports showed a buoyant expansion. The pace of growth appeared the most rapid in 2021 with an increase of X%. The level of export peaked in 2023 and is expected to retain growth in the immediate term.

Exports by Country

Poland represented the major exporting country with an export of about X units, which finished at X% of total exports. The Netherlands (X units) held a X% share (based on physical terms) of total exports, which put it in second place, followed by Denmark (X%). Germany (X units) held a relatively small share of total exports.

From 2012 to 2023, average annual rates of growth with regard to hearing aid exports from Poland stood at X%. At the same time, the Netherlands (X%) and Germany (X%) displayed positive paces of growth. Moreover, the Netherlands emerged as the fastest-growing exporter exported in the European Union, with a CAGR of X% from 2012-2023. Denmark experienced a relatively flat trend pattern. While the share of Poland (X p.p.) and the Netherlands (X p.p.) increased significantly in terms of the total exports from 2012-2023, the share of Germany (X p.p.) and Denmark (X p.p.) displayed negative dynamics.

In value terms, Poland ($X) remains the largest hearing aid supplier in the European Union, comprising X% of total exports. The second position in the ranking was taken by the Netherlands ($X), with a X% share of total exports. It was followed by Denmark, with a X% share.

In Poland, 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: the Netherlands (X% per year) and Denmark (X% per year).

Export Prices by Country

The export price in the European Union stood at $X per unit in 2023, with a decrease of X% against the previous year. Overall, the export price saw a noticeable downturn. The most prominent rate of growth was recorded in 2022 when the export price increased by X% against the previous year. Over the period under review, the export prices hit record highs at $X per unit in 2012; however, from 2013 to 2023, the export prices stood at a somewhat 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 the Netherlands ($X per unit), while Denmark ($X per unit) was amongst the lowest.

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

Hearing Aid Imports

Imports in the EU

For the third consecutive year, the European Union recorded growth in purchases abroad of hearing aids (excl. parts and accessories), which increased by X% to X units in 2023. Over the period under review, imports saw a remarkable increase. The most prominent rate of growth was recorded in 2021 when imports increased by X%. The volume of import peaked in 2023 and is expected to retain growth in the near future.

In value terms, hearing aid imports totaled $X in 2023. Overall, imports posted a prominent expansion. The pace of growth was the most pronounced in 2021 with an increase of X% against the previous year. Over the period under review, imports reached the maximum in 2023 and are expected to retain growth in the near future.

Imports by Country

In 2023, the Netherlands (X units), Poland (X units) and Germany (X units) was the major importer of hearing aids (excl. parts and accessories) in the European Union, comprising X% of total import. France (X units) took an X% share (based on physical terms) of total imports, which put it in second place, followed by Spain (X%) and Denmark (X%). Italy (X units) held a little share of total imports.

From 2012 to 2023, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Poland (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest hearing aid importing markets in the European Union were the Netherlands ($X), Germany ($X) and France ($X), together accounting for X% of total imports. Poland, Spain, Denmark and Italy lagged somewhat behind, together accounting for a further X%.

Poland, with a CAGR of X%, recorded the highest growth rate of the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2023, the import price in the European Union amounted to $X per unit, approximately equating the previous year. Overall, the import price, however, saw a pronounced reduction. The growth pace was the most rapid in 2020 when the import price increased by X%. The level of import peaked at $X per unit in 2012; however, from 2013 to 2023, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2023, amid the top importers, the country with the highest price was France ($X per unit), while Poland ($X per unit) was amongst the lowest.

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

Source: IndexBox Platform