Serbia Hearing Aid Retailers Market Size, Share & Trends Analysis Report By Type (In-the-Ear Hearing Aids, Receiver-In-the-Ear Hearing Aids, Behind-the-Ear Hearing Aids), By Technology (Digital, Analog), And Segment Forecasts,
Published Date: May - 2025 | Publisher: MIR | No of Pages: 240 | Industry: healthcare | Format: Report available in PDF / Excel Format
View Details Buy Now 2999 Download Sample Ask for Discount Request CustomizationSerbia Hearing Aid Retailers Market Trends
The size of the Serbia hearing aid retailers market was valued at USD 98.43 million in 2024 and is anticipated to expand at a CAGR of 6.95% from 2025 to 2035. The growth is mainly due to the increasing incidence of hearing loss in the population, especially in the elderly population. Additionally, awareness about hearing health has increased significantly in Serbia. Public health programs and educational efforts have helped lower stigma related to the use of hearing aids.
Increased retail channels for hearing aids have supported market expansion. Along with conventional brick-and-mortar outlets, online sales websites are increasingly popular, giving consumers more access to a range of products at competitive prices. This convenience enables customers to compare easily and select devices that suit their requirements best.
Technological advances have resulted in more advanced and appealing hearing aids. Contemporary devices come with additional features like Bluetooth, noise cancellation, and better sound quality, hence more appealing to customers. Such advancements increase the user experience and prompt more people to look for these products in stores.
Government subsidies and reimbursement programs have greatly driven the market in Serbia by making the devices more affordable to a wider section of the population. The Republic Fund for Expanding Potential Customer Base or Health Insurance (RFZO) in Serbia is a government program aimed at enhancing access to health insurance for people who require more coverage under the standard social health insurance system. Pensioners, children, working, and unemployed with hearing impairments can get help for hearing aids under the RFZO (Republic Fund for Expanding Potential Customer Base or Health Insurance).
The growth of the market in the country is furthermore driven by several emerging trends that reflect changing consumer needs and technological advancements as given in the table below.
New Market Trends
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Market Trends |
Description |
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Affordability and Value for Money |
Cost is a significant concern, particularly for older adults and low-income consumers seeking affordable hearing aids that balance quality and price. Manufacturers focus on budget-friendly options with essential features and explore partnerships with insurance providers to ease costs. There is increasing interest in smart hearing aids and eco-friendly designs, but affordability remains a significant issue, especially for those preferring analog options. |
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High Import of Medical Equipment |
The Serbian hearing aids market relies heavily on imports due to limited domestic production capacity. Local manufacturers struggle to compete with international brands, making imports essential for providing access to a variety of advanced products. This high import level allows local distributors to offer innovative hearing aids that meet consumer preferences, enhancing user experience and driving market growth. |
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Artificial Intelligence (AI) |
AI has significantly improved hearing aids by providing personalized experiences that enhance quality of life and overall well-being. This technology sharpens speech in noisy environments and allows users to make phone calls, listen to music, and receive messages. There is an increasing demand for AI-driven and eco-friendly hearing aids, as indicated by interviews with retailers in Serbia, suggesting future product launches in this sector. |
Market Concentration & Characteristics
The following chart displays the interaction between market concentration, market characteristics, and market participants. The x-axis is used to show the degree of market concentration, which can vary from low to high. The y-axis is used to display different market characteristics, such as degree of innovation, level of mergers & acquisitions, regulatory impact, and expansion of the market. The innovation level is medium, merger & acquisition activities level is low, regulations' influence on the market is high, and the market expansion level is medium.
The market has a moderate level of innovation, fueled by growing consumer demand for advanced hearing solutions, heightened awareness of hearing wellbeing, and high emphasis on digital transformation. The behind-the-ear and in-the-ear devices are compact in size and provide improved Bluetooth connectivity for fluent compatibility with iOS and Android platforms. The devices incorporate inbuilt Bluetooth technology for television and mobile connections. An example is AudioBM, which provides devices with a Channel Free signal processing system that boosts the receiving signal 20,000 times every second. The SoundClip accessory wirelessly pairs with this hearing aid, enabling sound to be transmitted from Bluetooth devices.
The level of merger and acquisition activity in the Serbian market for hearing aid retailers is presently limited, mirroring a wider pattern seen in the majority of emerging markets. The Serbian hearing aids market is one with a comparatively small number of players, something that can detract from considerable consolidation efforts typical of more established markets. But there is still room for expansion as awareness for hearing health continues to grow and the population grows older.
Regulatory changes, especially the enforcement of the Medical Device Regulation (MDR) and EU-recognition processes for professional qualifications, have had a major impact on Serbia's hearing aid retailer market. Improved safety standards and simplified qualification recognition among EU/EEA nations have increased consumer confidence and enabled a more dynamic and competitive retail market. Additionally, the focus of the MDR on safety and performance has spurred innovation among manufacturers, enabling retailers to provide sophisticated digital and telehealth-integrated hearing aids.
Type Insights
The receiver-in-the-ear segment captured the biggest revenue market share of 75.55% in 2024. Demand for receiver-in-the-ear segment growth mainly comes from consumer demand for concealed, high-functioning, and technologically improved devices. Receiver-in-the-ear (RITE) hearing aids, where the receiver is differentiated from the microphone and amplifier, provide a better natural auditory performance and are also smaller than classical behind-the-ear (BTE) instruments. For example, Zonex provides receiver-in-the-ear hearing aids with AI-driven sound processing, enhanced connectivity for streaming, and remote care.
Behind-the-ear hearing aids segment is anticipated to expand at the highest CAGR during the forecast period. Ongoing advancements in BTE hearing aids, including better sound quality, noise reduction technology, Bluetooth connectivity, and rechargeable batteries, are fueling segmental growth. In addition, enhanced product launches and approvals will propel the market growth.
Technology Insights
The digital accounted for the highest revenue share of 93.99% in 2024. The digital segment is witnessing high growth due to advancements in technology and the growing need for high-quality, customizable hearing solutions. Digital hearing aids, which process sound as a digital signal, provide better sound clarity, sophisticated features like Bluetooth connectivity, and mobile app remote control.Moreover, digital hearing aids can be remotely programmed and customized by audiologists, which is attractive to the technologically savvy younger generation who prefer convenience and efficiency in their healthcare. Such benefits related to digital hearing aids are fueling market growth.
The analog segment will expand at the highest CAGR during the forecast period, owing to cost-effectiveness and simplicity. Analog hearing aids are more affordable than digital ones and are a sought-after choice for those with basic hearing needs or who are looking for affordable options. Their ease of use and compatibility with low maintenance costs further increase their attraction, particularly to the elderly or those with mild to moderate hearing impairment. Moreover, growing consciousness regarding the impact of hearing impairment on health and wellness is contributing to the rise in this market segment.
Key Companies & Market Share Insights
The market is highly consolidated, dominated by major national chainsAudioBM, Audiovox, and Sani Optics. The remaining market share is fragmented, consisting of independent audiologists and smaller retail groups. Key players are adopting growth strategies to enhance their market presence, including collaborations and mergers & acquisitions.
Key Companies In Serbia Hearing Aid Retailers Market
- AudioBM
- Audiovox
- Sani Optics
- Yason doo
- MicroTech
- Alfa doo
- CI Studio Pulsar doo
- Zonex
- MDM Electronics doo
- Simedel
- Neuroth
Recent Developments
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In December 2024, Neuroth's announced its expansion into Serbia with its first production facility outside Austria represents a strategic initiative aimed at enhancing production capacity, reducing costs, and improving market access within Southeast Europe. Neuroth's decision to set up a production facility in Serbia aligns with its broader strategy to increase production capacity and meet growing demand for hearing aids and related products. The facility is expected to create numerous jobs, contributing positively to the local economy and providing employment opportunities for residents.
Serbia Hearing Aid Retailers Market Report Scope
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Report Attribute |
Details |
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Revenue forecast in 2025 |
USD 106.00 million |
|
Revenue forecast in 2030 |
USD 148.33 million |
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Growth rate |
CAGR of 6.95% from 2025 to 2035 |
|
Actual data |
2018 - 2024 |
|
Forecast data |
2025 - 2035 |
|
Quantitative units |
Revenue in USD million and CAGR from 2025 to 2035 |
|
Report coverage |
Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
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Segments covered |
Type, technology |
|
Country scope |
Serbia |
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Key companies profiled |
AudioBM; Audiovox; Sani Optics; Yason doo; MicroTech; Alfa doo; CI Studio Pulsar doo; Zonex, MDM Electronics doo; Simedel; Neuroth |
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Customization scope |
Free report customization (equivalent up to 8 analysts working days) with purchase. Addition or alteration to country, regional & segment scope. |
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Pricing and purchase options |
Avail customized purchase options to meet your exact research needs. Explore purchase options |
Serbia Hearing Aid Retailers Market Report Segmentation
Type Outlook (Volume, Units; Revenue, USD Million, 2018 - 2035)
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In-The-Ear Hearing Aids
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Receiver-In-The-Ear Hearing Aids
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Behind-The-Ear Hearing Aids
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Canal Hearing Aids
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Technology Size Outlook (Volume, Units; Revenue, USD Million, 2018 - 2035)
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Digital
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Analog
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