ASEAN: Syringe Market 2024

Syringe Market Size in ASEAN

In 2022, after four years of growth, there was decline in the ASEAN syringe market, when its value decreased by -1.2% to $X. The total consumption indicated a strong increase from 2012 to 2022: its value increased at an average annual rate of +5.7% 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 +32.4% against 2017 indices. Over the period under review, the market reached the peak level at $X in 2021, and then fell slightly in the following year.

Syringe Production in ASEAN

In value terms, syringe production contracted to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +4.4% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2015 when the production volume increased by 24% against the previous year. The level of production peaked at $X in 2021, and then contracted modestly in the following year.

Syringe Exports

Exports in ASEAN

In 2022, after three years of decline, there was significant growth in shipments abroad of syringes, with or without needles, when their volume increased by 5.8% to X units. Overall, exports, however, showed a abrupt shrinkage. The pace of growth appeared the most rapid in 2015 with an increase of 16% against the previous year. Over the period under review, the exports reached the maximum at X units in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, syringe exports rose rapidly to $X in 2022. Total exports indicated a measured increase from 2012 to 2022: its value increased at an average annual rate of +3.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2016 with an increase of 35%. The level of export peaked at $X in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

Exports by Country

In 2022, Indonesia (X units), distantly followed by the Philippines (X units), Singapore (X units), Vietnam (X units) and Thailand (X units) represented the main exporters of syringes, with or without needles, together creating 98% of total exports. Malaysia (X units) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Malaysia (with a CAGR of +22.4%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Singapore ($X) remains the largest syringe supplier in ASEAN, comprising 62% of total exports. The second position in the ranking was held by the Philippines ($X), with a 14% share of total exports. It was followed by Indonesia, with a 10% share.

In Singapore, syringe exports expanded at an average annual rate of +9.2% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: the Philippines (-9.3% per year) and Indonesia (+20.9% per year).

Export Prices by Country

In 2022, the export price in ASEAN amounted to $X per unit, increasing by 5.9% against the previous year. Over the period under review, the export price recorded buoyant growth. The growth pace was the most rapid in 2019 an increase of 48% against the previous year. Over the period under review, the export prices attained the maximum in 2022 and is expected to retain growth in the near future.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Singapore ($X per unit), while Vietnam (less than $X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Singapore (+15.0%), while the other leaders experienced more modest paces of growth.

Syringe Imports

Imports in ASEAN

In 2022, approx. X units of syringes, with or without needles were imported in ASEAN; reducing by -2.7% against the previous year. The total import volume increased at an average annual rate of +2.6% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2021 when imports increased by 31% against the previous year. As a result, imports attained the peak of X units, and then shrank slightly in the following year.

In value terms, syringe imports expanded sharply to $X in 2022. Total imports indicated strong growth from 2012 to 2022: its value increased at an average annual rate of +5.9% 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 +76.0% against 2016 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 26%. The level of import peaked in 2022 and is expected to retain growth in years to come.

Imports by Country

In 2022, Thailand (X units), distantly followed by Singapore (X units), Indonesia (X units), Vietnam (X units), Myanmar (X units), the Philippines (X units) and Malaysia (X units) represented the key importers of syringes, with or without needles, together achieving 96% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Vietnam (with a CAGR of +11.5%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Singapore ($X), Malaysia ($X) and Thailand ($X) were the countries with the highest levels of imports in 2022, together accounting for 66% of total imports. Indonesia, Vietnam, the Philippines and Myanmar lagged somewhat behind, together comprising a further 32%.

Among the main importing countries, Vietnam, with a CAGR of +12.7%, saw the highest growth rate of 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 unit in 2022, surging by 9.1% against the previous year. Over the last decade, it increased at an average annual rate of +3.2%. The most prominent rate of growth was recorded in 2014 an increase of 40%. Over the period under review, import prices attained the maximum in 2022 and is likely to see gradual growth in the immediate term.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Malaysia ($X per unit), while Myanmar (less than $X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Singapore (+10.8%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform