Asia-Pacific: Diagnostic Equipment Market 2024

Diagnostic Equipment Market Size in Asia-Pacific

After seven years of growth, the Asia-Pacific diagnostic equipment market decreased by -1.7% to $X in 2021. The total consumption indicated measured growth from 2012 to 2021: its value increased at an average annual rate of +3.9% 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 +57.0% against 2013 indices. Over the period under review, the market reached the maximum level at $X in 2020, and then shrank modestly in the following year.

Diagnostic Equipment Production in Asia-Pacific

In value terms, diagnostic equipment production declined modestly to $X in 2021 estimated in export price. The total production indicated notable growth from 2012 to 2021: its value increased at an average annual rate of +3.6% 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 +49.0% against 2013 indices. The most prominent rate of growth was recorded in 2018 when the production volume increased by 16% against the previous year. Over the period under review, production attained the maximum level at $X in 2020, and then dropped in the following year.

Diagnostic Equipment Exports

Exports in Asia-Pacific

After two years of decline, overseas shipments of electro-diagnostic apparatus, and ultra-violet or infra-red ray apparatus increased by 16% to X units in 2021. Total exports indicated a mild increase from 2012 to 2021: its volume increased at an average annual rate of +1.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2016 with an increase of 75% against the previous year. The volume of export peaked in 2021 and is likely to continue growth in years to come.

In value terms, diagnostic equipment exports expanded rapidly to $X in 2021. The total export value increased at an average annual rate of +5.2% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

In 2021, China (X units) was the major exporter of electro-diagnostic apparatus, and ultra-violet or infra-red ray apparatus, creating 61% of total exports. South Korea (X units) ranks second in terms of the total exports with a 12% share, followed by Japan (10%) and Malaysia (6.3%). Hong Kong SAR (X units) and Singapore (X units) followed a long way behind the leaders.

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-Pacific, with a CAGR of +20.2% from 2012-2021. By contrast, Japan (-3.3%) and Singapore (-4.1%) illustrated a downward trend over the same period. From 2012 to 2021, the share of China, Malaysia and South Korea increased by +14, +5 and +2.7 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest diagnostic equipment supplying countries in Asia-Pacific were China ($X), Japan ($X) and South Korea ($X), with a combined 74% share of total exports. Hong Kong SAR, Singapore and Malaysia lagged somewhat behind, together comprising a further 20%.

Among the main exporting countries, Malaysia, with a CAGR of +15.5%, recorded the highest rates of growth with regard to 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

The export price in Asia-Pacific stood at $X per unit in 2021, falling by -3.2% against the previous year. Overall, the export price, however, saw a noticeable increase. The most prominent rate of growth was recorded in 2014 when the export price increased by 88% 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.

Prices varied noticeably by country of origin: 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-Pacific

For the third consecutive year, Asia-Pacific recorded growth in supplies from abroad of electro-diagnostic apparatus, and ultra-violet or infra-red ray apparatus, which increased by 20% to X units in 2021. Total imports indicated moderate growth from 2012 to 2021: its volume increased at an average annual rate of +4.3% 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 +78.3% against 2015 indices. The pace of growth was the most pronounced in 2016 with an increase of 29% against the previous year. Over the period under review, imports reached the maximum in 2021 and are expected to retain growth in the near future.

In value terms, diagnostic equipment imports rose sharply to $X in 2021. The total import value increased at an average annual rate of +3.3% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained 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) represented the main importers of electro-diagnostic apparatus, and ultra-violet or infra-red ray apparatus, together mixing up 78% of total imports. Singapore (X units), Australia (X units), Indonesia (X units), India (X units), Taiwan (Chinese) (X units), Vietnam (X units) and Malaysia (X units) followed a long way behind the leaders.

From 2012 to 2021, the biggest increases were recorded for Thailand (with a CAGR of +33.8%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, China ($X) constitutes the largest market for imported electro-diagnostic apparatus, and ultra-violet or infra-red ray apparatus in Asia-Pacific, comprising 37% of total imports. The second position in the ranking was held by Japan ($X), with a 16% share of total imports. It was followed by Hong Kong SAR, with an 8.9% 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-Pacific amounted to $X per unit, dropping by -6.4% against the previous year. In general, the import price saw a mild decline. The pace of growth was the most pronounced in 2014 an increase of 29% against the previous year. 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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