Asia: Diagnostic Equipment Market 2024

Diagnostic Equipment Market Size in Asia

In 2021, after seven years of growth, there was decline in the Asian diagnostic equipment market, when its value decreased by -3.3% to $X. The total consumption indicated a temperate expansion from 2012 to 2021: its value increased at an average annual rate of +4.2% 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 +61.3% against 2013 indices. Over the period under review, the market reached the maximum level at $X in 2020, and then shrank in the following year.

Diagnostic Equipment Production in Asia

In value terms, diagnostic equipment production declined modestly to $X in 2021 estimated in export price. The total production indicated a tangible increase from 2012 to 2021: its value increased at an average annual rate of +3.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +51.3% against 2013 indices. The growth pace was the most rapid in 2018 when the production volume increased by 15%. Over the period under review, production reached the peak level at $X in 2020, and then dropped modestly in the following year.

Diagnostic Equipment Exports

Exports in Asia

In 2021, shipments abroad of electro-diagnostic apparatus, and ultra-violet or infra-red ray apparatus was finally on the rise to reach X units after two years of decline. Total exports indicated slight growth from 2012 to 2021: its volume increased at an average annual rate of +1.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2016 when exports increased by 70% against the previous year. The volume of export peaked in 2021 and is expected to retain growth in the near future.

In value terms, diagnostic equipment exports totaled $X in 2021. The total export value increased at an average annual rate of +5.0% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

In 2021, China (X units) represented the largest exporter of electro-diagnostic apparatus, and ultra-violet or infra-red ray apparatus, mixing up 59% of total exports. South Korea (X units) took a 12% share (based on physical terms) of total exports, which put it in second place, followed by Japan (9.9%) and Malaysia (6%). The following exporters - Hong Kong SAR (X units), Israel (X units) and Singapore (X units) - together made up 9.1% of total exports.

Exports from China increased at an average annual rate of +4.2% from 2012 to 2021. At the same time, Malaysia (+20.2%), South Korea (+3.9%) and Hong Kong SAR (+2.0%) displayed positive paces of growth. Moreover, Malaysia emerged as the fastest-growing exporter exported in Asia, with a CAGR of +20.2% from 2012-2021. Israel experienced a relatively flat trend pattern. By contrast, Japan (-3.3%) and Singapore (-4.1%) illustrated a downward trend over the same period. While the share of China (+12 p.p.), Malaysia (+4.7 p.p.) and South Korea (+2.3 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Singapore (-1.6 p.p.) and Japan (-5.4 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest diagnostic equipment supplying countries in Asia were China ($X), Japan ($X) and South Korea ($X), together accounting for 69% of total exports. These countries were followed by Hong Kong SAR, Israel, Singapore and Malaysia, which together accounted for a further 25%.

Among the main exporting countries, Malaysia, with a CAGR of +15.5%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the export price in Asia amounted to $X per unit, dropping by -2.9% against the previous year. Overall, the export price, however, showed a moderate expansion. The most prominent rate of growth was recorded in 2014 an increase of 85% against the previous year. As a result, the export price reached the peak level of $X per unit. From 2015 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Japan ($X per unit), while China ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Singapore (+8.4%), while the other leaders experienced more modest paces of growth.

Diagnostic Equipment Imports

Imports in Asia

In 2021, supplies from abroad of electro-diagnostic apparatus, and ultra-violet or infra-red ray apparatus increased by 18% to X units, rising for the sixth year in a row after two years of decline. Total imports indicated a measured increase from 2012 to 2021: its volume increased at an average annual rate of +4.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +77.5% against 2015 indices. The growth pace was the most rapid in 2016 with an increase of 24%. The volume of import peaked in 2021 and is expected to retain growth in years to come.

In value terms, diagnostic equipment imports stood at $X in 2021. The total import value increased at an average annual rate of +3.3% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, China (X units), distantly followed by Thailand (X units), Japan (X units), South Korea (X units) and Hong Kong SAR (X units) were the main importers of electro-diagnostic apparatus, and ultra-violet or infra-red ray apparatus, together mixing up 69% of total imports. The following importers - Turkey (X units), Singapore (X units), Indonesia (X units), India (X units), the United Arab Emirates (X units), Iraq (X units), Kazakhstan (X units) and Taiwan (Chinese) (X units) - together made up 19% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Thailand (with a CAGR of +33.8%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X) constitutes the largest market for imported electro-diagnostic apparatus, and ultra-violet or infra-red ray apparatus in Asia, comprising 34% of total imports. The second position in the ranking was taken by Japan ($X), with a 15% share of total imports. It was followed by Hong Kong SAR, with an 8.1% share.

In China, diagnostic equipment imports increased at an average annual rate of +3.8% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Japan (-0.0% per year) and Hong Kong SAR (+8.1% per year).

Import Prices by Country

In 2021, the import price in Asia amounted to $X per unit, dropping by -7.3% against the previous year. Overall, the import price showed a mild setback. The pace of growth was the most pronounced in 2014 an increase of 28%. As a result, import price reached the peak level of $X per unit. From 2015 to 2021, the import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was India ($X per unit), while Thailand ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Indonesia (+10.0%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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