Latvia - Hearing Aids (Excl. Parts And Accessories) - Market Analysis, Forecast, Size, Trends and Insights
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View PricingHearing Aid Price in Latvia - 2023
Contents:
- Hearing Aid Price in Latvia (CIF) - 2022
- Hearing Aid Price in Latvia (FOB) - 2022
- Hearing Aid Imports in Latvia
- Hearing Aid Exports in Latvia
Hearing Aid Price in Latvia (CIF) - 2022
In 2022, the average hearing aid import price amounted to $121 per unit, reducing by -47.2% against the previous year. Overall, the import price saw a deep slump. The pace of growth was the most pronounced in 2016 when the average import price increased by 268%. As a result, import price attained the peak level of $302 per unit. From 2017 to 2022, the average import prices failed to regain momentum.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Austria ($1,295 per unit), while the price for Germany ($57 per unit) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Lithuania (+15.9%), while the prices for the other major suppliers experienced more modest paces of growth.
Hearing Aid Price in Latvia (FOB) - 2022
The average hearing aid export price stood at $154 per unit in 2022, waning by -9.6% against the previous year. Over the period under review, the export price continues to indicate a deep reduction. The pace of growth appeared the most rapid in 2017 an increase of 2,499% against the previous year. Over the period under review, the average export prices attained the maximum at $784 per unit in 2014; however, from 2015 to 2022, the export prices remained at a lower figure.
As there is only one major export destination, the average price level is determined by prices for Belarus.
From 2014 to 2022, the rate of growth in terms of prices for Belarus amounted to -6.5% per year.
Hearing Aid Imports in Latvia
In 2022, the amount of hearing aids (excl. parts and accessories) imported into Latvia skyrocketed to 12K units, jumping by 371% against 2021 figures. Over the period under review, imports recorded significant growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.
In value terms, hearing aid imports soared to $1.4M in 2022. In general, imports saw a significant increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.
| Import of Hearing Aid in Latvia (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Lithuania | N/A | 202 | 27.8 | 819 | 101.4% |
| Austria | 299 | 196 | 404 | 448 | 14.4% |
| Estonia | 1.0 | 0.5 | 0.8 | 137 | 415.5% |
| Germany | 143 | 220 | 128 | 6.9 | -63.6% |
| Netherlands | N/A | 36.9 | N/A | N/A | 0% |
| Others | 25.3 | 9.1 | 10.0 | 8.6 | -30.2% |
| Total | 469 | 664 | 571 | 1,420 | 44.7% |
Top Suppliers of Hearing Aid to Latvia in 2022:
- Lithuania (9.5K units)
- Estonia (1.7K units)
- Austria (0.3K units)
- Germany (0.1K units)
Hearing Aid Exports in Latvia
For the fourth consecutive year, Latvia recorded growth in overseas shipments of hearing aids (excl. parts and accessories), which increased by 45% to 4.9K units in 2022. Overall, exports continue to indicate a significant increase. The growth pace was the most rapid in 2020 with an increase of 84%. The exports peaked in 2022 and are likely to see gradual growth in the immediate term.
In value terms, hearing aid exports surged to $750K in 2022. Over the period under review, exports continue to indicate a significant expansion. The most prominent rate of growth was recorded in 2021 with an increase of 88%. Over the period under review, the exports hit record highs in 2022 and are likely to continue growth in the near future.
| Export of Hearing Aid in Latvia (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Belarus | 231 | 268 | 572 | 747 | 47.9% |
| Russia | N/A | 36.9 | N/A | N/A | 0% |
| Others | N/A | 0.1 | N/A | 2.7 | 419.6% |
| Total | 231 | 305 | 572 | 750 | 48.1% |
Top Export Markets for Hearing Aid from Latvia in 2022:
- Belarus (4.9K units)
This report provides an in-depth analysis of the hearing aid market in Latvia. 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:
- Latvia
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in Latvia
- 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.
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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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