Bangladesh: Diagnostic Equipment Market 2025

Diagnostic Equipment Market Size in Bangladesh

The Bangladeshi diagnostic equipment market surged to $X in 2021, jumping by 37% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption showed prominent growth. Diagnostic equipment consumption peaked at $X in 2019; however, from 2020 to 2021, consumption failed to regain momentum.

Diagnostic Equipment Exports

Exports from Bangladesh

In 2021, overseas shipments of electro-diagnostic apparatus, and ultra-violet or infra-red ray apparatus were finally on the rise to reach X units for the first time since 2015, thus ending a five-year declining trend. Over the period under review, exports, however, continue to indicate a sharp downturn. The pace of growth was the most pronounced in 2015 when exports increased by 677% against the previous year. As a result, the exports reached the peak of X units. From 2016 to 2021, the growth of the exports failed to regain momentum.

In value terms, diagnostic equipment exports declined to $X in 2021. Overall, exports, however, continue to indicate a sharp curtailment. The pace of growth appeared the most rapid in 2015 when exports increased by 897%. As a result, the exports attained the peak of $X. From 2016 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Austria (X units) was the main destination for diagnostic equipment exports from Bangladesh, accounting for a 76% share of total exports. Moreover, diagnostic equipment exports to Austria exceeded the volume sent to the second major destination, Italy (X units), more than tenfold. The third position in this ranking was taken by Singapore (X units), with a 4.8% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Austria totaled -34.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Italy (-34.8% per year) and Singapore (-39.2% per year).

In value terms, the largest markets for diagnostic equipment exported from Bangladesh were Austria ($X), Singapore ($X) and Italy ($X), with a combined 63% share of total exports. France and the UK lagged somewhat behind, together comprising a further 2.5%.

In terms of the main countries of destination, the UK, with a CAGR of +70.3%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced a decline.

Export Prices by Country

In 2021, the average diagnostic equipment export price amounted to $X per unit, shrinking by -70.9% against the previous year. Over the period under review, the export price saw a slight slump. The growth pace was the most rapid in 2020 when the average export price increased by 175%. As a result, the export price attained the peak level of $X per unit, and then fell significantly in the following year.

There were significant differences in the average prices for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was Singapore ($X per unit), while the average price for exports to Austria ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the UK (+109.9%), while the prices for the other major destinations experienced more modest paces of growth.

Diagnostic Equipment Imports

Imports into Bangladesh

In 2021, approx. X units of electro-diagnostic apparatus, and ultra-violet or infra-red ray apparatus were imported into Bangladesh; increasing by 11% against 2020 figures. In general, imports continue to indicate buoyant growth. The growth pace was the most rapid in 2016 with an increase of 101%. Over the period under review, imports reached the maximum at X units in 2019; however, from 2020 to 2021, imports failed to regain momentum.

In value terms, diagnostic equipment imports skyrocketed to $X in 2021. Over the period under review, imports saw strong growth. The most prominent rate of growth was recorded in 2018 when imports increased by 62%. Over the period under review, imports attained the peak figure in 2021 and are expected to retain growth in the near future.

Imports by Country

China (X units), Germany (X units) and the Netherlands (X units) were the main suppliers of diagnostic equipment imports to Bangladesh, with a combined 71% share of total imports. South Korea, the United States, Hong Kong SAR, Japan and Singapore lagged somewhat behind, together accounting for a further 13%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Hong Kong SAR (with a CAGR of +32.6%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X), Germany ($X) and the Netherlands ($X) constituted the largest diagnostic equipment suppliers to Bangladesh, together accounting for 44% of total imports. These countries were followed by Hong Kong SAR, the United States, South Korea, Japan and Singapore, which together accounted for a further 24%.

Hong Kong SAR, with a CAGR of +35.9%, recorded the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average diagnostic equipment import price amounted to $X per unit, picking up by 30% against the previous year. In general, the import price, however, continues to indicate a slight decrease. The import price peaked at $X per unit in 2013; however, from 2014 to 2021, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Singapore ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Netherlands (+7.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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