Asia-Pacific: Medical Instruments Market 2024

Medical Instruments Market Size in Asia-Pacific

In 2022, the Asia-Pacific medical instruments market decreased by -5.2% to $X, falling for the second consecutive year after three years of growth. The market value 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 level of consumption peaked at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Medical Instruments Production in Asia-Pacific

In value terms, medical instruments production reduced modestly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +3.1% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2018 when the production volume increased by 17% against the previous year. The level of production peaked at $X in 2021, and then shrank slightly in the following year.

Medical Instruments Exports

Exports in Asia-Pacific

Medical instruments exports rose modestly to X tons in 2022, increasing by 2% on 2021 figures. Over the period under review, exports recorded a prominent increase. The pace of growth was the most pronounced in 2017 with an increase of 20% against the previous year. Over the period under review, the exports attained the peak figure in 2022 and are likely to see steady growth in the immediate term.

In value terms, medical instruments exports stood at $X in 2022. Total exports indicated a moderate expansion from 2012 to 2022: its value increased at an average annual rate of +4.5% 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 +55.3% against 2012 indices. The pace of growth appeared the most rapid in 2020 with an increase of 9% against the previous year. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in years to come.

Exports by Country

China (X tons) and Thailand (X tons) represented roughly 50% of total exports in 2022. India (X tons) took a 14% share (based on physical terms) of total exports, which put it in second place, followed by Singapore (11%). The following exporters - Malaysia (X tons), Pakistan (X tons), Indonesia (X tons), Japan (X tons), Australia (X tons), Hong Kong SAR (X tons), Taiwan (Chinese) (X tons), South Korea (X tons) and Vietnam (X tons) - together made up 23% of total exports.

From 2012 to 2022, the biggest increases were recorded for Vietnam (with a CAGR of +39.3%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest medical instruments supplying countries in Asia-Pacific were China ($X), Singapore ($X) and Japan ($X), together comprising 64% of total exports. Malaysia, South Korea, Pakistan, Hong Kong SAR, India, Taiwan (Chinese), Vietnam, Thailand, Australia and Indonesia lagged somewhat behind, together comprising a further 34%.

Vietnam, with a CAGR of +34.9%, saw the highest rates of growth with regard to the value of exports, in terms of the main exporting countries 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 ton in 2022, remaining stable against the previous year. In general, the export price saw a abrupt setback. The most prominent rate of growth was recorded in 2014 an increase of 0.4%. The level of export peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: 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-Pacific

In 2022, purchases abroad of instruments used in medical sciences decreased by -4.2% 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 +6.6% 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 -10.1% against 2020 indices. The most prominent rate of growth was recorded in 2020 when imports increased by 30% against the previous year. As a result, imports reached the peak of X tons. From 2021 to 2022, the growth of imports failed to regain momentum.

In value terms, medical instruments imports totaled $X in 2022. Total imports indicated a resilient increase from 2012 to 2022: its value increased at an average annual rate of +6.0% 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 +79.1% against 2012 indices. The growth pace was the most rapid in 2021 when imports increased by 11% against the previous year. Over the period under review, imports reached the maximum in 2022 and are expected to retain growth in the near future.

Imports by Country

Thailand (X tons), Singapore (X tons), Japan (X tons), Indonesia (X tons), India (X tons), Hong Kong SAR (X tons), Australia (X tons) and China (X tons) represented roughly 82% of total imports in 2022. Malaysia (X tons) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Thailand (with a CAGR of +39.2%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X) constitutes the largest market for imported instruments used in medical sciences in Asia-Pacific, comprising 33% of total imports. The second position in the ranking was held by Japan ($X), with a 16% share of total imports. It was followed by Australia, with a 9% share.

From 2012 to 2022, the average annual growth rate of value in China amounted to +13.9%. In the other countries, the average annual rates were as follows: Japan (+2.5% per year) and Australia (+2.1% per year).

Import Prices by Country

In 2022, the import price in Asia-Pacific amounted to $X per ton, surging by 7.7% against the previous year. In general, the import price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the import price increased by 19% against the previous year. The level of import peaked 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 ($X per ton), while Thailand ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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