The German market for pacemakers and hearing aids has experienced a consistent decline in value from 2013 to 2023, reaching 162.54 million euros in 2023. Year-on-year variations indicate a continued downturn, with a significant drop of 10.91% in 2023. The five-year compound annual growth rate (CAGR) has averaged -8.5%, and forecasts predict the market will further decrease over the next five years, approaching a CAGR of -14.31% by 2028.
Future trends to watch for:
- Technological advancements might slow the market's decline by enhancing device efficiency.
- Aging demographics could influence demand dynamic changes, potentially stabilizing the market.
- Increased healthcare awareness and better accessibility to medical technologies could mitigate the downturn.
