Hearing Aid Market Overview in Greece
Market Overview
In 
, the Greek hearing aid market decreased by -% to $ for the first time since 2017, thus ending a two-year rising trend. Overall, consumption continues to indicate a noticeable descent. The pace of growth was the most pronounced in 2016 with an increase of % y-o-y. Over the period under review, the market attained the maximum level at $ in 2008; however, from 2009 to , consumption failed to regain the momentum.
, the Greek hearing aid market decreased by -% to $ for the first time since 2017, thus ending a two-year rising trend. Overall, consumption continues to indicate a noticeable descent. The pace of growth was the most pronounced in 2016 with an increase of % y-o-y. Over the period under review, the market attained the maximum level at $ in 2008; however, from 2009 to , consumption failed to regain the momentum.Consumption
In , consumption of hearing aids (excl. parts and accessories) decreased by -% to units for the first time since 2017, thus ending a two-year rising trend. Overall, consumption saw a perceptible decrease. The pace of growth was the most pronounced in 2018 when the consumption volume increased by % y-o-y. Over the period under review, consumption attained the peak volume at units in 2008; however, from 2009 to , consumption failed to regain the momentum.
The value of the hearing aid market in Greece fell to $ in , reducing 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). Over the period under review, consumption continues to indicate a noticeable reduction. 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 , consumption remained at a lower figure.
, consumption of hearing aids (excl. parts and accessories) decreased by -% to units for the first time since 2017, thus ending a two-year rising trend. Overall, consumption saw a perceptible decrease. The pace of growth was the most pronounced in 2018 when the consumption volume increased by % y-o-y. Over the period under review, consumption attained the peak volume at units in 2008; however, from 2009 to , consumption failed to regain the momentum.The value of the hearing aid market in Greece fell to $
in , reducing 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). Over the period under review, consumption continues to indicate a noticeable reduction. 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 , 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 to , which is projected to depress the market volume to units by the end of .
% for the period from 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 . In , 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.
. In , 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.
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