Australia: Medical Instruments Market 2024

Medical Instruments Market Size in Australia

The Australian medical instruments market expanded remarkably to $X in 2022, growing by 6.1% against the previous year. Over the period under review, consumption recorded a prominent expansion. Over the period under review, the market attained the peak level in 2022 and is likely to see gradual growth in years to come.

Medical Instruments Production in Australia

In value terms, medical instruments production rose remarkably to $X in 2022 estimated in export price. Overall, production continues to indicate significant growth. The most prominent rate of growth was recorded in 2019 with an increase of 307% against the previous year. Over the period under review, production hit record highs at $X in 2020; afterwards, it flattened through to 2022.

Medical Instruments Exports

Exports from Australia

In 2022, shipments abroad of instruments used in medical sciences decreased by -5.8% to X tons for the first time since 2018, thus ending a three-year rising trend. In general, exports, however, posted a buoyant expansion. The pace of growth was the most pronounced in 2017 with an increase of 80%. Over the period under review, the exports reached the peak figure at X tons in 2021, and then fell in the following year.

In value terms, medical instruments exports dropped notably to $X in 2022. Over the period under review, exports recorded a noticeable curtailment. The pace of growth was the most pronounced in 2013 with an increase of 13% against the previous year. The exports peaked at $X in 2021, and then fell remarkably in the following year.

Exports by Country

New Zealand (X tons) was the main destination for medical instruments exports from Australia, with a 76% share of total exports. Moreover, medical instruments exports to New Zealand exceeded the volume sent to the second major destination, China (X tons), more than tenfold. The third position in this ranking was held by the Netherlands (X tons), with a 3.7% share.

From 2012 to 2022, the average annual growth rate of volume to New Zealand stood at +21.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (+8.2% per year) and the Netherlands (+18.3% per year).

In value terms, New Zealand ($X) remains the key foreign market for instruments used in medical sciences exports from Australia, comprising 54% of total exports. The second position in the ranking was taken by the United States ($X), with a 10% share of total exports. It was followed by Singapore, with a 6.3% share.

From 2012 to 2022, the average annual growth rate of value to New Zealand was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (-4.4% per year) and Singapore (+1.2% per year).

Export Prices by Country

In 2022, the average medical instruments export price amounted to $X per ton, dropping by -40.7% against the previous year. In general, the export price showed a abrupt contraction. The pace of growth appeared the most rapid in 2020 when the average export price decreased by -1.4% against the previous year. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Singapore ($X per ton), while the average price for exports to New Caledonia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Germany (+0.7%), while the prices for the other major destinations experienced mixed trend patterns.

Medical Instruments Imports

Imports into Australia

In 2022, the amount of instruments used in medical sciences imported into Australia declined to X tons, with a decrease of -5.7% compared with the previous year. The total import volume increased at an average annual rate of +1.9% over the period from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations in certain years. The most prominent rate of growth was recorded in 2021 when imports increased by 13%. As a result, imports attained the peak of X tons, and then declined in the following year.

In value terms, medical instruments imports fell modestly to $X in 2022. The total import value increased at an average annual rate of +2.1% from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2021 when imports increased by 15%. As a result, imports attained the peak of $X, and then contracted slightly in the following year.

Imports by Country

China (X tons), the United States (X tons) and Germany (X tons) were the main suppliers of medical instruments imports to Australia, together accounting for 47% of total imports. Mexico, Italy, France, Malaysia, Thailand, Hungary, Taiwan (Chinese), Japan, Serbia and Belgium lagged somewhat behind, together accounting for a further 35%.

From 2012 to 2022, the biggest increases were recorded for Serbia (with a CAGR of +92.7%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) constituted the largest supplier of instruments used in medical sciences to Australia, comprising 41% of total imports. The second position in the ranking was taken by Mexico ($X), with an 11% share of total imports. It was followed by Germany, with a 7.5% share.

From 2012 to 2022, the average annual growth rate of value from the United States stood at +1.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Mexico (+10.4% per year) and Germany (+2.0% per year).

Import Prices by Country

The average medical instruments import price stood at $X per ton in 2022, with an increase of 2.6% against the previous year. In general, the import price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 an increase of 16% against the previous year. Over the period under review, average import prices reached the maximum in 2022 and is expected to retain growth in years to come.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per ton), while the price for Hungary ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Thailand (+8.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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