Belgium: Pacemaker Market 2024

Pacemaker Market Size in Belgium

The Belgian pacemaker market reduced markedly to $X in 2021, waning by -50.8% against the previous year. Over the period under review, consumption showed a abrupt contraction. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Pacemaker Production in Belgium

In value terms, pacemaker production shrank to $X in 2021 estimated in export price. Over the period under review, production continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when the production volume increased by 177%. As a result, production attained the peak level of $X. From 2015 to 2021, production growth remained at a lower figure.

Pacemaker Exports

Exports from Belgium

In 2021, shipments abroad of pacemakers for stimulating heart muscles (excl. parts and accessories) increased by 13% to X units, rising for the fifth consecutive year after two years of decline. In general, exports showed significant growth. The pace of growth appeared the most rapid in 2013 with an increase of 1,547%. Over the period under review, the exports reached the peak figure in 2021 and are likely to continue growth in the near future.

In value terms, pacemaker exports surged to $X in 2021. Overall, exports recorded a significant expansion. The pace of growth was the most pronounced in 2013 with an increase of 1,383%. Over the period under review, the exports attained the maximum at $X in 2014; however, from 2015 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

China (X units), Germany (X units) and Japan (X units) were the main destinations of pacemaker exports from Belgium, together comprising 30% of total exports. These countries were followed by France, Italy, the UK, India, Spain, Mexico, Argentina, Canada, Poland and Sweden, which together accounted for a further 38%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Mexico (with a CAGR of +170.9%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for pacemaker exported from Belgium were China ($X), France ($X) and Italy ($X), together comprising 34% of total exports. These countries were followed by Germany, Japan, the UK, Spain, Canada, India, Argentina, Poland, Sweden and Mexico, which together accounted for a further 38%.

Argentina, with a CAGR of +147.8%, saw the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average pacemaker export price stood at $X per unit in 2021, increasing by 6.4% against the previous year. In general, the export price, however, recorded a perceptible contraction. The growth pace was the most rapid in 2014 an increase of 17% against the previous year. As a result, the export price attained the peak level of $X per unit. From 2015 to 2021, the average export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was France ($X per unit), while the average price for exports to Mexico ($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 China (+8.2%), while the prices for the other major destinations experienced more modest paces of growth.

Pacemaker Imports

Imports into Belgium

In 2021, purchases abroad of pacemakers for stimulating heart muscles (excl. parts and accessories) decreased by -4.2% to X units, falling for the second year in a row after two years of growth. In general, imports, however, continue to indicate significant growth. The pace of growth was the most pronounced in 2013 with an increase of 345%. Over the period under review, imports hit record highs at X units in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

In value terms, pacemaker imports contracted to $X in 2021. Over the period under review, imports, however, saw a significant increase. The pace of growth was the most pronounced in 2013 when imports increased by 210% against the previous year. Imports peaked at $X in 2020, and then declined in the following year.

Imports by Country

In 2021, Malaysia (X units) constituted the largest supplier of pacemaker to Belgium, with a 71% share of total imports. Moreover, pacemaker imports from Malaysia exceeded the figures recorded by the second-largest supplier, the United States (X units), fourfold. The third position in this ranking was held by the Netherlands (X units), with a 2.9% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Malaysia amounted to +21.8%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+108.8% per year) and the Netherlands (-1.1% per year).

In value terms, Malaysia ($X) constituted the largest supplier of pacemakers for stimulating heart muscles (excl. parts and accessories) to Belgium, comprising 58% of total imports. The second position in the ranking was held by the United States ($X), with a 26% share of total imports. It was followed by the Netherlands, with a 5.6% share.

From 2012 to 2021, the average annual growth rate of value from Malaysia totaled +20.3%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+102.0% per year) and the Netherlands (-2.3% per year).

Import Prices by Country

The average pacemaker import price stood at $X per unit in 2021, remaining relatively unchanged against the previous year. In general, the import price continues to indicate a deep slump. The most prominent rate of growth was recorded in 2020 when the average import price increased by 18%. The import price peaked at $X per unit in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was the Netherlands ($X per unit), while the price for Malaysia ($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 (-1.2%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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