Hearing Aid Market Overview in Greece
Market Overview
The Greek hearing aid market rose rapidly to $
in 2019, growing by % against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption, however, saw a noticeable decrease. The growth pace was the most rapid in 2016 with an increase of % y-o-y. Over the period under review, the market reached the peak level at $ in 2008; however, from 2009 to 2019, consumption failed to regain the momentum.
in 2019, growing by % against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption, however, saw a noticeable decrease. The growth pace was the most rapid in 2016 with an increase of % y-o-y. Over the period under review, the market reached the peak level at $ in 2008; however, from 2009 to 2019, consumption failed to regain the momentum.Consumption
In 2019, approx. units of hearing aids (excl. parts and accessories) were consumed in Greece; remaining constant against the year before. Over the period under review, consumption, however, recorded a deep setback. The pace of growth was the most pronounced in 2018 with an increase of % year-to-year. Over the period under review, consumption hit record highs at units in 2008; however, from 2009 to 2019, consumption failed to regain the momentum.
The size of the hearing aid market in Greece amounted to $ in 2019, picking up by % against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption, however, recorded a noticeable curtailment. The most prominent rate of growth was recorded in 2016 with an increase of % y-o-y. Over the period under review, the market attained the peak level at $ in 2008; however, from 2009 to 2019, consumption remained at a lower figure.
units of hearing aids (excl. parts and accessories) were consumed in Greece; remaining constant against the year before. Over the period under review, consumption, however, recorded a deep setback. The pace of growth was the most pronounced in 2018 with an increase of % year-to-year. Over the period under review, consumption hit record highs at units in 2008; however, from 2009 to 2019, consumption failed to regain the momentum.The size of the hearing aid market in Greece amounted to $
in 2019, picking up by % against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption, however, recorded a noticeable curtailment. The most prominent rate of growth was recorded in 2016 with an increase of % y-o-y. Over the period under review, the market attained the peak level at $ in 2008; however, from 2009 to 2019, consumption remained at a lower figure.Market Forecast
Depressed by shrinking demand for hearing aid in Greece, the market is expected to continue its downward consumption trend over the next decade. The performance of the market is forecast to contract with an anticipated CAGR of -% for the period from 2019 to , which is projected to depress the market volume to units by the end of .
% for the period from 2019 to , which is projected to depress the market volume to units by the end of .Trade Balance
Greece remains a net importer of hearing aid; in physical and value terms, imports consistently exceeded exports from 2007 to 2019. In 2019, there was a significant trade deficit of units, which was equal to $. This tangible trade deficit reflects the fact that the market remains dependent on imports, which is likely to continue in the medium term.
units, which was equal to $. This tangible trade deficit reflects the fact that the market remains dependent on imports, which is likely to continue in the medium term.
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