Asia: Ophthalmic Instruments Market 2024

Ophthalmic Instruments Market Size in Asia

After nine years of growth, the Asian ophthalmic instruments market decreased by -3.7% to $X in 2021. The total consumption indicated resilient growth from 2012 to 2021: its value increased at an average annual rate of +6.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +80.3% against 2012 indices. Over the period under review, the market attained the peak level at $X in 2020, and then shrank slightly in the following year.

Ophthalmic Instruments Production in Asia

In value terms, ophthalmic instruments production shrank modestly to $X in 2021 estimated in export price. The total production indicated a resilient expansion from 2012 to 2021: its value increased at an average annual rate of +7.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +89.9% against 2012 indices. The most prominent rate of growth was recorded in 2017 when the production volume increased by 18%. Over the period under review, production hit record highs at $X in 2020, and then contracted slightly in the following year.

Ophthalmic Instruments Exports

Exports in Asia

In 2021, the amount of ophthalmic instruments and appliances exported in Asia skyrocketed to X tons, picking up by 48% compared with the previous year. The total export volume increased at an average annual rate of +4.4% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, ophthalmic instruments exports surged to $X in 2021. Total exports indicated tangible growth from 2012 to 2021: its value increased at an average annual rate of +4.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

China represented the major exporting country with an export of around X tons, which finished at 48% of total exports. Japan (X tons) held a 22% share (based on physical terms) of total exports, which put it in second place, followed by South Korea (9.8%) and Singapore (8.4%). Hong Kong SAR (X tons) and Malaysia (X tons) took a relatively small share of total exports.

Exports from China increased at an average annual rate of +5.4% from 2012 to 2021. At the same time, Singapore (+29.0%), South Korea (+3.2%) and Japan (+1.3%) displayed positive paces of growth. Moreover, Singapore emerged as the fastest-growing exporter exported in Asia, with a CAGR of +29.0% from 2012-2021. Hong Kong SAR experienced a relatively flat trend pattern. By contrast, Malaysia (-3.1%) illustrated a downward trend over the same period. Singapore (+7.1 p.p.) and China (+3.7 p.p.) significantly strengthened its position in terms of the total exports, while Hong Kong SAR, Malaysia and Japan saw its share reduced by -1.8%, -2.8% and -6.7% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Japan ($X), Singapore ($X) and China ($X) were the countries with the highest levels of exports in 2021, together comprising 67% of total exports.

Among the main exporting countries, Singapore, with a CAGR of +30.3%, 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 ton, reducing by -17.5% against the previous year. In general, the export price, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 an increase of 9% against the previous year. As a result, the export price reached the peak level of $X per ton, and then fell rapidly in the following year.

Prices varied noticeably country of origin: the country with the highest price was Hong Kong SAR ($X per ton), while China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Malaysia (+3.5%), while the other leaders experienced more modest paces of growth.

Ophthalmic Instruments Imports

Imports in Asia

In 2021, the amount of ophthalmic instruments and appliances imported in Asia surged to X tons, with an increase of 23% on 2020. The total import volume increased at an average annual rate of +4.2% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The volume of import peaked at X tons in 2019; however, from 2020 to 2021, imports remained at a lower figure.

In value terms, ophthalmic instruments imports skyrocketed to $X in 2021. Total imports indicated a buoyant increase from 2012 to 2021: its value increased at an average annual rate of +6.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, China (X tons), distantly followed by Japan (X tons), Malaysia (X tons), India (X tons) and Turkey (X tons) represented the largest importers of ophthalmic instruments and appliances, together generating 67% of total imports. Saudi Arabia (X tons), Hong Kong SAR (X tons), Singapore (X tons), the United Arab Emirates (X tons), Taiwan (Chinese) (X tons), Indonesia (X tons), Thailand (X tons) and South Korea (X tons) followed a long way behind the leaders.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by China (with a CAGR of +12.7%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X) constitutes the largest market for imported ophthalmic instruments and appliances in Asia, comprising 47% of total imports. The second position in the ranking was held by Japan ($X), with a 14% share of total imports. It was followed by India, with a 7.2% share.

From 2012 to 2021, the average annual growth rate of value in China stood at +17.6%. In the other countries, the average annual rates were as follows: Japan (-0.7% per year) and India (+0.7% per year).

Import Prices by Country

The import price in Asia stood at $X per ton in 2021, with an increase of 6.7% against the previous year. Over the last nine-year period, it increased at an average annual rate of +2.2%. The pace of growth appeared the most rapid in 2017 when the import price increased by 11% against the previous year. The level of import peaked in 2021 and is expected to retain growth in the near future.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+4.3%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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