2021-07-06
China`s hearing aid industry has developed rapidly
In the past 20 years, China`s hearing aid industry has developed rapidly, especially in terms of the growth rate of fitting points and sales volume, which are far ahead of the world average development level. The world`s major multinational corporations have long established their manufacturing bases in China, or cooperated or set up wholly-owned factories, which greatly promoted the rapid development of China`s hearing aid industry. The top 6 hearing aid manufacturers in the world: Germany`s Siemens, Switzerland`s Fengli, Denmark`s AAC, Denmark`s Oticon, Denmark`s Weinstein, and Starkey in the US have all entered the Chinese market, like Stark in the United States. And AAC, Denmark, have established large-scale hearing aid production bases in Nanjing and Xiamen, respectively. Canada`s Unicorn and Lisheng also entered the Chinese market.
However, the development of domestic hearing aid companies has shrunk severely, and domestic products have struggled to sell in the domestic market. The market share of foreign products or Sino-foreign joint venture products has exceeded 90%, showing a tendency of being blocked and colonized by foreign brands. Although domestic or joint-venture products still dominated at the beginning of the reform and opening up, with the establishment of wholly-owned bases by multinational enterprises, almost all domestic products have withdrawn from the mainstream market.