Australia and Oceania: Medical Instruments Market 2024

Medical Instruments Market Size in Australia and Oceania

The medical instruments market in Australia and Oceania was estimated at $X in 2022, increasing by 7.5% against the previous year. Overall, consumption posted buoyant growth. Over the period under review, the market attained the peak level at $X in 2020; afterwards, it flattened through to 2022.

Medical Instruments Production in Australia and Oceania

In value terms, medical instruments production expanded remarkably to $X in 2022 estimated in export price. In general, production enjoyed significant growth. The most prominent rate of growth was recorded in 2017 with an increase of 16,832%. The level of production peaked at $X in 2020; afterwards, it flattened through to 2022.

Medical Instruments Exports

Exports in Australia and Oceania

In 2022, shipments abroad of instruments used in medical sciences decreased by -8.1% to X tons for the first time since 2018, thus ending a three-year rising trend. In general, exports, however, showed a prominent expansion. The growth pace was the most rapid in 2017 with an increase of 68%. The volume of export peaked at X tons in 2021, and then contracted in the following year.

In value terms, medical instruments exports reduced sharply to $X in 2022. Overall, exports recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 with an increase of 20%. As a result, the exports attained the peak of $X, and then reduced rapidly in the following year.

Exports by Country

Australia was the major exporting country with an export of around X tons, which accounted for 87% of total exports. It was distantly followed by New Zealand (X tons), achieving a 13% share of total exports.

Australia was also the fastest-growing in terms of the instruments used in medical sciences exports, with a CAGR of +14.2% from 2012 to 2022. At the same time, New Zealand (+4.8%) displayed positive paces of growth. While the share of Australia (+13 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of New Zealand (-12.7 p.p.) displayed negative dynamics.

In value terms, Australia ($X) remains the largest medical instruments supplier in Australia and Oceania, comprising 72% of total exports. The second position in the ranking was taken by New Zealand ($X), with a 28% share of total exports.

In Australia, medical instruments exports shrank by an average annual rate of -2.4% over the period from 2012-2022.

Export Prices by Country

The export price in Australia and Oceania stood at $X per ton in 2022, declining by -32.3% against the previous year. Overall, the export price showed a deep setback. The most prominent rate of growth was recorded in 2021 when the export price increased by 0.5% against the previous year. Over the period under review, the export prices attained the peak figure 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 New Zealand ($X per ton), while Australia amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by New Zealand (+1.0%).

Medical Instruments Imports

Imports in Australia and Oceania

In 2022, after two years of growth, there was decline in purchases abroad of instruments used in medical sciences, when their volume decreased by -4.5% to X tons. The total import volume increased at an average annual rate of +2.0% from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being observed in certain years. The pace of growth appeared the most rapid in 2021 with an increase of 10%. As a result, imports reached the peak of X tons, and then declined in the following year.

In value terms, medical instruments imports fell slightly to $X in 2022. The total import value increased at an average annual rate of +2.3% from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations in certain years. The pace of growth appeared the most rapid in 2021 when imports increased by 15% against the previous year. As a result, imports reached the peak of $X, and then contracted slightly in the following year.

Imports by Country

Australia dominates imports structure, recording X tons, which was near 84% of total imports in 2022. It was distantly followed by New Zealand (X tons), committing an 8.1% share of total imports. Fiji (X tons) and Papua New Guinea (X tons) followed a long way behind the leaders.

Imports into Australia increased at an average annual rate of +1.9% from 2012 to 2022. At the same time, Fiji (+14.8%) and Papua New Guinea (+2.9%) displayed positive paces of growth. Moreover, Fiji emerged as the fastest-growing importer imported in Australia and Oceania, with a CAGR of +14.8% from 2012-2022. New Zealand experienced a relatively flat trend pattern. From 2012 to 2022, the share of Fiji increased by +1.9 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Australia ($X) constitutes the largest market for imported instruments used in medical sciences in Australia and Oceania, comprising 82% of total imports. The second position in the ranking was held by New Zealand ($X), with a 15% share of total imports. It was followed by Fiji, with a 1% share.

In Australia, medical instruments imports increased at an average annual rate of +2.1% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: New Zealand (+2.7% per year) and Fiji (+12.9% per year).

Import Prices by Country

The import price in Australia and Oceania stood at $X per ton in 2022, rising by 1.8% against the previous year. Over the period under review, the import price continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2016 an increase of 14% against the previous year. The level of import peaked in 2022 and is likely to see steady growth in the near future.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was New Zealand ($X per ton), while Fiji ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by New Zealand (+2.6%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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