Bangladesh: Ophthalmic Instruments Market 2024

Ophthalmic Instruments Market Size in Bangladesh

The Bangladeshi ophthalmic instruments market skyrocketed to $X in 2021, growing by 41% 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). Overall, the total consumption indicated a noticeable increase from 2012 to 2021: its value increased at an average annual rate of +3.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -12.9% against 2019 indices. Ophthalmic instruments consumption peaked at $X in 2015; however, from 2016 to 2021, consumption remained at a lower figure.

Ophthalmic Instruments Exports

Exports from Bangladesh

Ophthalmic instruments exports from Bangladesh shrank sharply to X kg in 2021, waning by -84.2% against 2020. Overall, exports, however, posted a mild increase. The most prominent rate of growth was recorded in 2020 when exports increased by 1,567% against the previous year. As a result, the exports reached the peak of X tons, and then declined dramatically in the following year.

In value terms, ophthalmic instruments exports dropped rapidly to $X in 2021. Over the period under review, exports, however, enjoyed a buoyant increase. The pace of growth was the most pronounced in 2020 when exports increased by 1,486%. As a result, the exports attained the peak of $X, and then contracted sharply in the following year.

Exports by Country

Nigeria (X kg) was the main destination for ophthalmic instruments exports from Bangladesh, accounting for a 77% share of total exports. Moreover, ophthalmic instruments exports to Nigeria exceeded the volume sent to the second major destination, Thailand (X kg), fourfold.

From 2012 to 2021, the average annual rate of growth in terms of volume to Nigeria totaled +23.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Thailand (+4.3% per year) and Japan (+8.0% per year).

In value terms, the largest markets for ophthalmic instruments exported from Bangladesh were Japan ($X), Nigeria ($X) and Thailand ($X), with a combined 92% share of total exports.

Among the main countries of destination, Japan, with a CAGR of +59.5%, saw the highest growth rate of 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 average ophthalmic instruments export price stood at $X per ton in 2021, with a decrease of -12.9% against the previous year. Over the period under review, the export price, however, continues to indicate a tangible increase. The most prominent rate of growth was recorded in 2015 an increase of 68% against the previous year. Over the period under review, the average export prices reached the peak figure at $X per ton in 2016; however, from 2017 to 2021, the export prices failed to regain momentum.

Prices varied noticeably country of destination: the country with the highest price was Japan ($X per ton), while the average price for exports to Thailand ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to France (+53.1%), while the prices for the other major destinations experienced more modest paces of growth.

Ophthalmic Instruments Imports

Imports into Bangladesh

In 2021, ophthalmic instruments imports into Bangladesh soared to X tons, increasing by 35% compared with the previous year. In general, total imports indicated a slight expansion from 2012 to 2021: its volume increased at an average annual rate of +1.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -21.1% against 2019 indices. The pace of growth appeared the most rapid in 2014 when imports increased by 56% against the previous year. Over the period under review, imports attained the maximum at X tons in 2015; however, from 2016 to 2021, imports remained at a lower figure.

In value terms, ophthalmic instruments imports soared to $X in 2021. Over the period under review, total imports indicated perceptible growth from 2012 to 2021: its value increased at an average annual rate of +4.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -8.2% against 2019 indices. The most prominent rate of growth was recorded in 2019 when imports increased by 53% against the previous year. As a result, imports attained the peak of $X. From 2020 to 2021, the growth of imports remained at a lower figure.

Imports by Country

China (X tons), Italy (X tons) and South Korea (X tons) were the main suppliers of ophthalmic instruments imports to Bangladesh, with a combined 36% share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Italy (with a CAGR of +34.7%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Singapore ($X), the United States ($X) and Germany ($X) appeared to be the largest ophthalmic instruments suppliers to Bangladesh, with a combined 23% share of total imports. These countries were followed by India, Japan, Italy, Switzerland, South Korea and China, which together accounted for a further 26%.

Among the main suppliers, South Korea, with a CAGR of +23.0%, recorded the highest growth rate of the value of imports, 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 ophthalmic instruments import price amounted to $X per ton, flattening at the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +3.5%. The most prominent rate of growth was recorded in 2013 when the average import price increased by 34% against the previous year. The import price peaked at $X per ton in 2020, and then dropped slightly in the following year.

Prices varied noticeably country of origin: the country with the highest price was Switzerland ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by India (+15.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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