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Nigeria - Hearing Aids (Excl. Parts And Accessories) - Market Analysis, Forecast, Size, Trends and Insights
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View PricingHearing Aid Price in Nigeria - 2022
Contents:
- Hearing Aid Price in Nigeria (CIF) - 2022
- Hearing Aid Price in Nigeria (FOB) - 2022
- Hearing Aid Imports in Nigeria
- Hearing Aid Exports in Nigeria
Hearing Aid Price in Nigeria (CIF) - 2022
The average hearing aid import price stood at $83 per unit in 2022, with a decrease of -51.3% against the previous year. In general, the import price showed a abrupt decrease. The pace of growth was the most pronounced in 2018 an increase of 36%. The import price peaked at $199 per unit in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.
There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Poland ($99 per unit), while the price for Denmark ($62 per unit) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Poland (+28.2%), while the prices for the other major suppliers experienced more modest paces of growth.
Hearing Aid Price in Nigeria (FOB) - 2022
In 2022, the average hearing aid export price amounted to $113 per unit, with a decrease of -9.3% against the previous year. In general, export price indicated a mild increase from 2012 to 2022: its price increased at an average annual rate of +1.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2015 an increase of 42% against the previous year. As a result, the export price reached the peak level of $174 per unit. From 2016 to 2022, the average export prices remained at a lower figure.
There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Cote d'Ivoire ($192 per unit), while the average price for exports to South Africa ($16 per unit) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Poland (+15.2%), while the prices for the other major destinations experienced more modest paces of growth.
Hearing Aid Imports in Nigeria
In 2022, the amount of hearing aids (excl. parts and accessories) imported into Nigeria surged to 3.4K units, increasing by 25% compared with the previous year. Over the period under review, total imports indicated a remarkable increase from 2019 to 2022: its volume increased at an average annual rate of +5.9% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +56.1% against 2020 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.
In value terms, hearing aid imports dropped significantly to $278K in 2022. In general, imports, however, faced a abrupt curtailment. The pace of growth was the most pronounced in 2021 with an increase of 27%. As a result, imports attained the peak of $456K, and then fell significantly in the following year.
Import of Hearing Aid in Nigeria (Thousand USD) | |||||
---|---|---|---|---|---|
COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
United Kingdom | 161 | 63.4 | 14.5 | 124 | -8.3% |
United States | 50.9 | 63.6 | 61.1 | 66.1 | 9.1% |
Austria | 14.4 | 59.1 | 17.1 | 19.1 | 9.9% |
Poland | 5.5 | 26.4 | 26.0 | 14.2 | 37.2% |
Denmark | 23.0 | 43.9 | 12.4 | 8.6 | -28.0% |
South Africa | 4.8 | 4.0 | 4.7 | 4.8 | 0.0% |
China | 14.9 | 6.4 | 2.7 | 4.6 | -32.4% |
India | 15.1 | 6.6 | 16.9 | 2.6 | -44.4% |
Germany | 9.0 | 13.5 | 6.4 | 1.1 | -50.4% |
Malaysia | 11.2 | 2.6 | N/A | N/A | -76.8% |
Estonia | N/A | N/A | 21.6 | N/A | 0% |
Others | 121 | 69.6 | 272 | 33.6 | -34.8% |
Total | 430 | 359 | 456 | 278 | -13.5% |
Top Suppliers of Hearing Aid to Nigeria in 2022:
- United Kingdom (1333.0 units)
- United States (894.0 units)
- Austria (282.0 units)
- Poland (144.0 units)
- Denmark (138.0 units)
- South Africa (69.0 units)
- China (44.0 units)
- India (29.0 units)
- Germany (13.0 units)
Hearing Aid Exports in Nigeria
In 2022, overseas shipments of hearing aids (excl. parts and accessories) were finally on the rise to reach 164 units after two years of decline. Overall, exports, however, saw a deep setback. The exports peaked at 319 units in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.
In value terms, hearing aid exports skyrocketed to $19K in 2022. In general, exports, however, saw a abrupt slump. Over the period under review, the exports reached the peak figure at $32K in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.
Export of Hearing Aid in Nigeria (Thousand USD) | |||||
---|---|---|---|---|---|
COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
Cote d'Ivoire | 18.8 | 28.8 | 3.7 | 14.5 | -8.3% |
Germany | 1.1 | 1.4 | 0.2 | 1.0 | -3.1% |
United Kingdom | 1.9 | 1.3 | 0.2 | 0.9 | -22.0% |
Poland | 1.4 | 0.3 | 0.2 | 0.8 | -17.0% |
India | N/A | 0.2 | N/A | 0.1 | -29.3% |
Others | 6.5 | 0.4 | 0.3 | 1.2 | -43.1% |
Total | 29.7 | 32.4 | 4.7 | 18.5 | -14.6% |
Top Export Markets for Hearing Aid from Nigeria in 2022:
- Cote d'Ivoire (75.0 units)
- Germany (20.0 units)
- United Kingdom (19.0 units)
- Poland (16.0 units)
- India (3.0 units)
This report provides an in-depth analysis of the hearing aid market in Nigeria. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
- Prodcom 26601433 - Appliances for overcoming deafness (excluding parts and accessories)
Country coverage:
- Nigeria
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in Nigeria
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
-
1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
-
2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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