ASEAN: Ophthalmic Instruments Market 2024

Ophthalmic Instruments Market Size in ASEAN

In 2021, the ASEAN ophthalmic instruments market decreased by -12.2% to $X for the first time since 2016, thus ending a four-year rising trend. The total consumption indicated a prominent expansion from 2012 to 2021: its value increased at an average annual rate of +6.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +54.3% against 2016 indices. Over the period under review, the market attained the maximum level at $X in 2020, and then shrank in the following year.

Ophthalmic Instruments Production in ASEAN

In value terms, ophthalmic instruments production declined to $X in 2021 estimated in export price. Overall, production, however, recorded prominent growth. The growth pace was the most rapid in 2014 when the production volume increased by 35%. The level of production peaked at $X in 2020, and then contracted in the following year.

Ophthalmic Instruments Exports

Exports in ASEAN

In 2021, the amount of ophthalmic instruments and appliances exported in ASEAN soared to X tons, rising by 34% against the previous year's figure. Over the period under review, exports posted prominent growth. The most prominent rate of growth was recorded in 2015 with an increase of 105%. Over the period under review, the exports hit record highs in 2021 and are likely to continue growth in the immediate term.

In value terms, ophthalmic instruments exports reached $X in 2021. In general, exports recorded a significant increase. The pace of growth was the most pronounced in 2015 with an increase of 188%. The level of export peaked in 2021 and is likely to see steady growth in years to come.

Exports by Country

In 2021, Singapore (X tons) represented the key exporter of ophthalmic instruments and appliances, comprising 63% of total exports. Malaysia (X tons) took a 22% share (based on physical terms) of total exports, which put it in second place, followed by Indonesia (9.7%). Vietnam (X tons) held a little share of total exports.

From 2012 to 2021, average annual rates of growth with regard to ophthalmic instruments exports from Singapore stood at +29.0%. At the same time, Indonesia (+43.2%) and Vietnam (+2.7%) displayed positive paces of growth. Moreover, Indonesia emerged as the fastest-growing exporter exported in ASEAN, with a CAGR of +43.2% from 2012-2021. By contrast, Malaysia (-3.1%) illustrated a downward trend over the same period. While the share of Singapore (+47 p.p.) and Indonesia (+8.8 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Vietnam (-4.2 p.p.) and Malaysia (-50.6 p.p.) displayed negative dynamics.

In value terms, Singapore ($X) remains the largest ophthalmic instruments supplier in ASEAN, comprising 77% of total exports. The second position in the ranking was held by Indonesia ($X), with a 7.7% share of total exports. It was followed by Malaysia, with a 7% share.

From 2012 to 2021, the average annual growth rate of value in Singapore totaled +30.3%. The remaining exporting countries recorded the following average annual rates of exports growth: Indonesia (+63.7% per year) and Malaysia (+0.3% per year).

Export Prices by Country

The export price in ASEAN stood at $X per ton in 2021, shrinking by -14.3% against the previous year. Over the period under review, the export price, however, recorded a prominent expansion. The pace of growth was the most pronounced in 2014 an increase of 62% against the previous year. The level of export peaked at $X per ton in 2017; however, from 2018 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was Vietnam ($X per ton), while Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Indonesia (+14.3%), while the other leaders experienced more modest paces of growth.

Ophthalmic Instruments Imports

Imports in ASEAN

In 2021, the amount of ophthalmic instruments and appliances imported in ASEAN surged to X tons, increasing by 19% on the previous year. The total import volume increased at an average annual rate of +1.2% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2018 when imports increased by 21%. The volume of import peaked at X tons in 2019; however, from 2020 to 2021, imports failed to regain momentum.

In value terms, ophthalmic instruments imports expanded markedly to $X in 2021. The total import value increased at an average annual rate of +3.1% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2019 when imports increased by 20% against the previous year. As a result, imports reached the peak of $X. From 2020 to 2021, the growth of imports remained at a lower figure.

Imports by Country

Malaysia was the major importer of ophthalmic instruments and appliances in ASEAN, with the volume of imports accounting for X tons, which was near 45% of total imports in 2021. It was distantly followed by Singapore (X tons), Indonesia (X tons), Thailand (X tons) and Vietnam (X tons), together creating a 51% share of total imports. The Philippines (X tons) took a relatively small share of total imports.

From 2012 to 2021, average annual rates of growth with regard to ophthalmic instruments imports into Malaysia stood at +1.5%. At the same time, Indonesia (+10.3%) displayed positive paces of growth. Moreover, Indonesia emerged as the fastest-growing importer imported in ASEAN, with a CAGR of +10.3% from 2012-2021. Thailand and Singapore experienced a relatively flat trend pattern. By contrast, Vietnam (-2.3%) and the Philippines (-6.4%) illustrated a downward trend over the same period. Indonesia (+7.8 p.p.) significantly strengthened its position in terms of the total imports, while Vietnam, the Philippines and Singapore saw its share reduced by -2%, -2.6% and -3.4% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest ophthalmic instruments importing markets in ASEAN were Singapore ($X), Thailand ($X) and Indonesia ($X), together comprising 71% of total imports.

In terms of the main importing countries, Indonesia, with a CAGR of +12.8%, saw 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

The import price in ASEAN stood at $X per ton in 2021, waning by -4.1% against the previous year. Over the last nine years, it increased at an average annual rate of +1.9%. The most prominent rate of growth was recorded in 2016 an increase of 14% against the previous year. Over the period under review, import prices attained the maximum at $X per ton in 2020, and then declined modestly in the following year.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was Vietnam ($X per ton), while Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Philippines (+8.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform