GCC: Hearing Aid Market 2024

Hearing Aid Market Size in GCC

In 2022, the GCC hearing aid market decreased by X% to $X for the first time since 2019, thus ending a two-year rising trend. Overall, consumption recorded measured growth. Over the period under review, the market hit record highs at $X in 2021, and then dropped markedly in the following year.

Hearing Aid Production in GCC

In value terms, hearing aid production skyrocketed to $X in 2022 estimated in export price. In general, production continues to indicate a measured expansion. The most prominent rate of growth was recorded in 2020 with an increase of X%. As a result, production reached the peak level of $X. From 2021 to 2022, production growth remained at a lower figure.

Hearing Aid Exports

Exports in GCC

After three years of decline, overseas shipments of hearing aids (excl. parts and accessories) increased by X% to X units in 2022. In general, exports continue to indicate a resilient expansion. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, hearing aid exports soared to $X in 2022. Over the period under review, exports saw a significant expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

The United Arab Emirates was the major exporter of hearing aids (excl. parts and accessories) in GCC, with the volume of exports accounting for X units, which was approx. X% of total exports in 2022. It was distantly followed by Saudi Arabia (X units), making up a X% share of total exports.

From 2012 to 2022, average annual rates of growth with regard to hearing aid exports from the United Arab Emirates stood at X%. At the same time, Saudi Arabia (X%) displayed positive paces of growth. Moreover, Saudi Arabia emerged as the fastest-growing exporter exported in GCC, with a CAGR of X% from 2012-2022. While the share of Saudi Arabia (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of the United Arab Emirates (X p.p.) displayed negative dynamics.

In value terms, the United Arab Emirates ($X) remains the largest hearing aid supplier in GCC, comprising X% of total exports. The second position in the ranking was taken by Saudi Arabia ($X), with a X% share of total exports.

In the United Arab Emirates, hearing aid exports increased at an average annual rate of X% over the period from 2012-2022.

Export Prices by Country

In 2022, the export price in GCC amounted to $X per unit, growing by X% against the previous year. Export price indicated a tangible expansion from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, hearing aid export price increased by X% against 2019 indices. The pace of growth appeared the most rapid in 2015 when the export price increased by X%. As a result, the export price attained the peak level of $X per unit. From 2016 to 2022, the export prices remained at a lower figure.

Average prices varied noticeably amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per unit), while Saudi Arabia amounted to $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (X%).

Hearing Aid Imports

Imports in GCC

In 2022, supplies from abroad of hearing aids (excl. parts and accessories) increased by X% to X units, rising for the second year in a row after two years of decline. Over the period under review, imports showed a resilient increase. The pace of growth was the most pronounced in 2021 when imports increased by X%. The volume of import peaked in 2022 and is expected to retain growth in the near future.

In value terms, hearing aid imports shrank significantly to $X in 2022. In general, imports showed a prominent increase. The growth pace was the most rapid in 2021 when imports increased by X% against the previous year. As a result, imports reached the peak of $X, and then contracted dramatically in the following year.

Imports by Country

The United Arab Emirates prevails in imports structure, recording X units, which was near X% of total imports in 2022. It was distantly followed by Oman (X units), constituting a X% share of total imports. Kuwait (X units) held a little share of total imports.

From 2012 to 2022, average annual rates of growth with regard to hearing aid imports into the United Arab Emirates stood at X%. At the same time, Oman (X%) displayed positive paces of growth. Moreover, Oman emerged as the fastest-growing importer imported in GCC, with a CAGR of X% from 2012-2022. By contrast, Kuwait (X%) illustrated a downward trend over the same period. While the share of Kuwait (X p.p.) and Oman (X p.p.) increased significantly in terms of the total imports from 2012-2022, the share of the United Arab Emirates (X p.p.) displayed negative dynamics.

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

From 2012 to 2022, the average annual growth rate of value in the United Arab Emirates stood at X%. The remaining importing countries recorded the following average annual rates of imports growth: Oman (X% per year) and Kuwait (X% per year).

Import Prices by Country

The import price in GCC stood at $X per unit in 2022, shrinking by X% against the previous year. In general, the import price saw a mild decrease. The pace of growth appeared the most rapid in 2017 an increase of X%. Over the period under review, import prices reached the peak figure at $X per unit in 2020; however, from 2021 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Kuwait ($X per unit), while the United Arab Emirates ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Oman (X%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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