Asia: Medical Instruments Market 2024

Medical Instruments Market Size in Asia

In 2022, the Asian medical instruments market decreased by -4.9% to $X, falling for the second year in a row after three years of growth. The market value increased at an average annual rate of +2.4% over the period from 2012 to 2022; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The level of consumption peaked at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Medical Instruments Production in Asia

In value terms, medical instruments production declined slightly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +3.0% over the period from 2012 to 2022; however, the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2018 with an increase of 17% against the previous year. The level of production peaked at $X in 2021, and then dropped modestly in the following year.

Medical Instruments Exports

Exports in Asia

In 2022, exports of instruments used in medical sciences in Asia rose to X tons, growing by 2.3% on the previous year. Over the period under review, exports posted resilient growth. The growth pace was the most rapid in 2017 with an increase of 19%. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in the near future.

In value terms, medical instruments exports expanded slightly to $X in 2022. Total exports indicated a strong increase from 2012 to 2022: its value increased at an average annual rate of +5.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +67.9% against 2012 indices. The pace of growth appeared the most rapid in 2021 when exports increased by 8.2% against the previous year. Over the period under review, the exports reached the peak figure in 2022 and are likely to see steady growth in years to come.

Exports by Country

China (X tons) and Thailand (X tons) were the main exporters of instruments used in medical sciences in 2022, finishing at approx. 27% and 20% of total exports, respectively. India (X tons) took a 13% share (based on physical terms) of total exports, which put it in second place, followed by Singapore (10%), Israel (4.9%) and Turkey (4.6%). Malaysia (X tons), Pakistan (X tons), Indonesia (X tons), Japan (X tons), Hong Kong SAR (X tons), Taiwan (Chinese) (X tons) and South Korea (X tons) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for India (with a CAGR of +33.1%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest medical instruments supplying countries in Asia were China ($X), Singapore ($X) and Japan ($X), together accounting for 56% of total exports. Israel, Malaysia, South Korea, Pakistan, Hong Kong SAR, India, Taiwan (Chinese), Turkey, Thailand and Indonesia lagged somewhat behind, together comprising a further 39%.

Among the main exporting countries, Turkey, with a CAGR of +17.2%, recorded 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 2022, the export price in Asia amounted to $X per ton, increasing by 2.4% against the previous year. Over the period under review, the export price, however, showed a noticeable decline. The most prominent rate of growth was recorded in 2014 when the export price increased by 2.4% against the previous year. The level of export peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

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 Japan ($X per ton), while Thailand ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (+8.8%), while the other leaders experienced more modest paces of growth.

Medical Instruments Imports

Imports in Asia

In 2022, overseas purchases of instruments used in medical sciences decreased by -2.1% to X tons, falling for the second consecutive year after six years of growth. Total imports indicated a buoyant increase from 2012 to 2022: its volume increased at an average annual rate of +6.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -8.5% against 2020 indices. The growth pace was the most rapid in 2020 when imports increased by 31% against the previous year. As a result, imports reached the peak of X tons. From 2021 to 2022, the growth of imports remained at a lower figure.

In value terms, medical instruments imports expanded to $X in 2022. Total imports indicated a resilient expansion 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 +76.7% against 2012 indices. The growth pace was the most rapid in 2013 with an increase of 10% against the previous year. The level of import peaked in 2022 and is expected to retain growth in years to come.

Imports by Country

The purchases of the twelve major importers of instruments used in medical sciences, namely Thailand, Singapore, Japan, Indonesia, India, Hong Kong SAR, China, Turkey, Saudi Arabia, Yemen, Malaysia and South Korea, represented more than two-thirds of total import.

From 2012 to 2022, the biggest increases were recorded for Thailand (with a CAGR of +39.2%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, China ($X) constitutes the largest market for imported instruments used in medical sciences in Asia, comprising 33% of total imports. The second position in the ranking was taken by Japan ($X), with a 16% share of total imports. It was followed by Singapore, with an 8.5% share.

From 2012 to 2022, the average annual growth rate of value in China stood at +13.9%. The remaining importing countries recorded the following average annual rates of imports growth: Japan (+2.5% per year) and Singapore (+2.8% per year).

Import Prices by Country

The import price in Asia stood at $X per ton in 2022, with an increase of 5.6% against the previous year. Over the period under review, the import price, however, recorded a slight curtailment. The pace of growth appeared the most rapid in 2021 an increase of 16% against the previous year. Over the period under review, import prices attained the maximum at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+4.4%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :