Argentina: Diagnostic Equipment Market 2024

Diagnostic Equipment Market Size in Argentina

After three years of decline, the Argentinian diagnostic equipment market increased by 9.6% to $X in 2021. Overall, consumption recorded a slight descent. As a result, consumption reached the peak level of $X. From 2018 to 2021, the growth of the market failed to regain momentum.

Diagnostic Equipment Exports

Exports from Argentina

For the fourth year in a row, Argentina recorded decline in shipments abroad of electro-diagnostic apparatus, and ultra-violet or infra-red ray apparatus, which decreased by -14.6% to X units in 2021. Overall, exports faced a abrupt downturn. The pace of growth appeared the most rapid in 2017 when exports increased by 69%. As a result, the exports attained the peak of X units. From 2018 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, diagnostic equipment exports contracted to $X in 2021. In general, exports recorded a deep downturn. The pace of growth appeared the most rapid in 2015 when exports increased by 23%. The exports peaked at $X in 2017; however, from 2018 to 2021, the exports failed to regain momentum.

Exports by Country

The United States (X units) was the main destination for diagnostic equipment exports from Argentina, with a 82% share of total exports. Moreover, diagnostic equipment exports to the United States exceeded the volume sent to the second major destination, Chile (X units), more than tenfold. Mexico (X units) ranked third in terms of total exports with a 5.1% share.

From 2012 to 2021, the average annual growth rate of volume to the United States was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Chile (-2.1% per year) and Mexico (-13.1% per year).

In value terms, the United States ($X) remains the key foreign market for electro-diagnostic apparatus, and ultra-violet or infra-red ray apparatus exports from Argentina, comprising 71% of total exports. The second position in the ranking was taken by Mexico ($X), with an 8.8% share of total exports. It was followed by Germany, with a 6.5% share.

From 2012 to 2021, the average annual growth rate of value to the United States amounted to -7.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Mexico (-12.3% per year) and Germany (+7.2% per year).

Export Prices by Country

The average diagnostic equipment export price stood at $X per unit in 2021, with an increase of 11% against the previous year. In general, the export price, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2016 when the average export price increased by 26% against the previous year. As a result, the export price attained the peak level of $X per unit. From 2017 to 2021, the average export prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Germany ($X per unit), while the average price for exports to Chile ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Germany (+23.7%), while the prices for the other major destinations experienced more modest paces of growth.

Diagnostic Equipment Imports

Imports into Argentina

Diagnostic equipment imports into Argentina shrank to X units in 2021, waning by -5.8% compared with the previous year. Over the period under review, imports continue to indicate a pronounced slump. The most prominent rate of growth was recorded in 2017 with an increase of 48%. As a result, imports reached the peak of X units. From 2018 to 2021, the growth of imports remained at a lower figure.

In value terms, diagnostic equipment imports expanded sharply to $X in 2021. In general, imports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when imports increased by 37%. As a result, imports reached the peak of $X. From 2018 to 2021, the growth of imports remained at a lower figure.

Imports by Country

China (X units), the United States (X units) and Japan (X units) were the main suppliers of diagnostic equipment imports to Argentina, with a combined 66% share of total imports. Germany, Italy, Israel, the Netherlands, South Korea, Canada, Singapore, India and Finland lagged somewhat behind, together comprising a further 28%.

From 2012 to 2021, the biggest increases were recorded for India (with a CAGR of +36.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, China ($X), the United States ($X) and Italy ($X) were the largest diagnostic equipment suppliers to Argentina, together accounting for 63% of total imports. Israel, Germany, Japan, South Korea, the Netherlands, Singapore, Canada, India and Finland lagged somewhat behind, together comprising a further 28%.

In terms of the main suppliers, Singapore, with a CAGR of +24.6%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average diagnostic equipment import price amounted to $X per unit, with an increase of 21% against the previous year. Overall, import price indicated a noticeable expansion from 2012 to 2021: its price increased at an average annual rate of +4.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, diagnostic equipment import price increased by +56.0% against 2019 indices. The most prominent rate of growth was recorded in 2013 an increase of 40%. The import price peaked at $X per unit in 2014; however, from 2015 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was South Korea ($X per unit), while the price for India ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Finland (+20.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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