Argentina: Medical Instruments Market 2024

Medical Instruments Market Size in Argentina

In 2022, the Argentinian medical instruments market increased by 29% to $X, rising for the second year in a row after three years of decline. Overall, the total consumption indicated a remarkable increase from 2012 to 2022: its value increased at an average annual rate of +9.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +51.0% against 2020 indices. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Medical Instruments Exports

Exports from Argentina

In 2022, approx. X tons of instruments used in medical sciences were exported from Argentina; growing by 2.5% compared with the year before. Overall, exports, however, recorded a abrupt descent. The most prominent rate of growth was recorded in 2020 when exports increased by 27% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, medical instruments exports surged to $X in 2022. In general, exports, however, saw a deep slump. Over the period under review, the exports attained the maximum at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

Uruguay (X tons), Peru (X tons) and Brazil (X tons) were the main destinations of medical instruments exports from Argentina, with a combined 47% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Peru (with a CAGR of +0.0%), while shipments for the other leaders experienced a decline.

In value terms, the largest markets for medical instruments exported from Argentina were Brazil ($X), Peru ($X) and Chile ($X), with a combined 51% share of total exports.

Peru, with a CAGR of +0.8%, recorded the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced a decline.

Export Prices by Country

In 2022, the average medical instruments export price amounted to $X per ton, with an increase of 16% against the previous year. Overall, the export price, however, recorded a slight decline. The most prominent rate of growth was recorded in 2016 an increase of 34% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2017 to 2022, the average export prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Singapore (+15.0%), while the prices for the other major destinations experienced more modest paces of growth.

Medical Instruments Imports

Imports into Argentina

In 2022, the amount of instruments used in medical sciences imported into Argentina expanded sharply to X tons, growing by 12% on the previous year. Over the period under review, total imports indicated a prominent increase from 2012 to 2022: its volume increased at an average annual rate of +6.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2019 with an increase of 18% against the previous year. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in the immediate term.

In value terms, medical instruments imports surged to $X in 2022. In general, total imports indicated a strong expansion from 2012 to 2022: its value increased at an average annual rate of +8.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +73.2% against 2020 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of medical instruments to Argentina, accounting for a 55% share of total imports. Moreover, medical instruments imports from China exceeded the figures recorded by the second-largest supplier, Indonesia (X tons), sixfold. The third position in this ranking was taken by India (X tons), with a 5.7% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China amounted to +8.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Indonesia (+108.9% per year) and India (+10.4% per year).

In value terms, China ($X), the United States ($X) and Germany ($X) were the largest medical instruments suppliers to Argentina, together comprising 57% of total imports. Mexico, Ireland, Costa Rica, India, Indonesia, Spain, Turkey, Serbia and Thailand lagged somewhat behind, together comprising a further 19%.

Indonesia, with a CAGR of +79.4%, recorded the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average medical instruments import price stood at $X per ton in 2022, increasing by 21% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.9%. The pace of growth appeared the most rapid in 2021 when the average import price increased by 42%. Over the period under review, average import prices attained the peak figure in 2022 and is likely to see steady growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the United States ($X per ton), while the price for Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Spain (+15.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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