Bulgaria: Ophthalmic Instruments Market 2024

Ophthalmic Instruments Market Size in Bulgaria

In 2021, the Bulgarian ophthalmic instruments market increased by 16% to $X, rising for the second consecutive year after two years of decline. Overall, consumption, however, continues to indicate a slight descent. Over the period under review, the market reached the peak level at $X in 2014; however, from 2015 to 2021, consumption stood at a somewhat lower figure.

Ophthalmic Instruments Exports

Exports from Bulgaria

In 2021, the amount of ophthalmic instruments and appliances exported from Bulgaria soared to X tons, picking up by 115% on the previous year's figure. In general, exports showed a significant increase. The most prominent rate of growth was recorded in 2018 with an increase of 166%. Over the period under review, the exports attained the maximum in 2021 and are expected to retain growth in the near future.

In value terms, ophthalmic instruments exports skyrocketed to $X in 2021. Over the period under review, exports showed a significant increase. The pace of growth appeared the most rapid in 2015 with an increase of 180% against the previous year. The exports peaked in 2021 and are expected to retain growth in years to come.

Exports by Country

North Macedonia (X tons), Iran (X tons) and China (X kg) were the main destinations of ophthalmic instruments exports from Bulgaria, together accounting for 45% of total exports. Kazakhstan, Spain, Kosovo, Greece, Brazil, Turkey, Chile, Vietnam, Romania and Lithuania lagged somewhat behind, together comprising 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 Kazakhstan (with a CAGR of +346.2%), while the other leaders experienced more modest paces of growth.

In value terms, North Macedonia ($X) remains the key foreign market for ophthalmic instruments and appliances exports from Bulgaria, comprising 30% of total exports. The second position in the ranking was taken by Iran ($X), with a 12% share of total exports. It was followed by Kazakhstan, with a 6.4% share.

From 2012 to 2021, the average annual rate of growth in terms of value to North Macedonia totaled +26.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Iran (+194.5% per year) and Kazakhstan (+466.1% per year).

Export Prices by Country

The average ophthalmic instruments export price stood at $X per ton in 2021, shrinking by -8.7% against the previous year. Overall, the export price showed a abrupt setback. The growth pace was the most rapid in 2019 when the average export price increased by 64% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2013; however, from 2014 to 2021, the export prices failed to regain momentum.

Prices varied noticeably country of destination: the country with the highest price was Romania ($X per ton), while the average price for exports to Lithuania ($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 Kazakhstan (+29.1%), while the prices for the other major destinations experienced more modest paces of growth.

Ophthalmic Instruments Imports

Imports into Bulgaria

In 2021, purchases abroad of ophthalmic instruments and appliances increased by 31% to X tons, rising for the second year in a row after two years of decline. In general, total imports indicated moderate growth from 2012 to 2021: its volume increased at an average annual rate of +2.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +50.2% against 2019 indices. Imports peaked at X tons in 2017; however, from 2018 to 2021, imports stood at a somewhat lower figure.

In value terms, ophthalmic instruments imports surged to $X in 2021. Overall, total imports indicated a noticeable increase from 2012 to 2021: its value increased at an average annual rate of +2.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +55.5% against 2019 indices. The pace of growth was the most pronounced in 2014 with an increase of 53%. As a result, imports reached the peak of $X. From 2015 to 2021, the growth of imports remained at a lower figure.

Imports by Country

Germany (X tons), Italy (X tons) and the United States (X tons) were the main suppliers of ophthalmic instruments imports to Bulgaria, together accounting for 50% of total imports. China, India, South Korea, France, the Netherlands and Belgium lagged somewhat behind, together accounting for a further 41%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by India (with a CAGR of +42.3%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest ophthalmic instruments suppliers to Bulgaria were the United States ($X), Germany ($X) and the Netherlands ($X), together accounting for 55% of total imports. France, South Korea, India, Italy, China and Belgium lagged somewhat behind, together comprising a further 28%.

Among the main suppliers, India, with a CAGR of +17.9%, 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

The average ophthalmic instruments import price stood at $X per ton in 2021, with an increase of 4.6% against the previous year. Overall, the import price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 an increase of 26%. Over the period under review, average import prices hit record highs at $X per ton in 2014; however, from 2015 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was the Netherlands ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Denmark (+68.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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