China: Medical Instruments Market 2024

Medical Instruments Market Size in China

The Chinese medical instruments market totaled $X in 2022, therefore, remained relatively stable against the previous year. Overall, the total consumption indicated a buoyant increase from 2012 to 2022: its value increased at an average annual rate of +5.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -5.3% against 2020 indices. Over the period under review, the market attained the maximum level at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Medical Instruments Production in China

In value terms, medical instruments production reached $X in 2022 estimated in export price. Overall, the total production indicated a strong expansion from 2012 to 2022: its value increased at an average annual rate of +6.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -1.2% against 2020 indices. The pace of growth was the most pronounced in 2013 when the production volume increased by 15%. Over the period under review, production reached the maximum level at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Medical Instruments Exports

Exports from China

For the sixth year in a row, China recorded growth in shipments abroad of instruments used in medical sciences, which increased by 3.2% to X tons in 2022. In general, exports recorded buoyant growth. The growth pace was the most rapid in 2020 with an increase of 19%. Over the period under review, the exports hit record highs in 2022 and are likely to see steady growth in the near future.

In value terms, medical instruments exports rose significantly to $X in 2022. Over the period under review, exports showed buoyant growth. The growth pace was the most rapid in 2020 with an increase of 31%. Over the period under review, the exports hit record highs in 2022 and are likely to continue growth in years to come.

Exports by Country

The United States (X tons) was the main destination for medical instruments exports from China, with a 29% share of total exports. Moreover, medical instruments exports to the United States exceeded the volume sent to the second major destination, Germany (X tons), fourfold. The third position in this ranking was taken by Japan (X tons), with a 6.1% share.

From 2012 to 2022, the average annual growth rate of volume to the United States amounted to +8.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+7.7% per year) and Japan (+12.9% per year).

In value terms, the United States ($X) remains the key foreign market for instruments used in medical sciences exports from China, comprising 30% of total exports. The second position in the ranking was taken by Germany ($X), with a 7.5% share of total exports. It was followed by Japan, with a 6.2% share.

From 2012 to 2022, the average annual growth rate of value to the United States totaled +12.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+10.2% per year) and Japan (+12.1% per year).

Export Prices by Country

In 2022, the average medical instruments export price amounted to $X per ton, surging by 11% against the previous year. Over the last decade, it increased at an average annual rate of +4.3%. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

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 South Korea ($X per ton), while the average price for exports to Indonesia ($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 the Netherlands (+8.2%), while the prices for the other major destinations experienced more modest paces of growth.

Medical Instruments Imports

Imports into China

In 2022, purchases abroad of instruments used in medical sciences decreased by -6.9% to X tons for the first time since 2011, thus ending a ten-year rising trend. Over the period under review, imports, however, posted strong growth. The most prominent rate of growth was recorded in 2018 when imports increased by 18% against the previous year. Imports peaked at X tons in 2021, and then fell in the following year.

In value terms, medical instruments imports stood at $X in 2022. Overall, imports, however, showed a remarkable increase. The pace of growth was the most pronounced in 2021 when imports increased by 38% against the previous year. Over the period under review, imports reached the peak figure in 2022 and are likely to continue growth in the immediate term.

Imports by Country

Mexico (X tons), Germany (X tons) and the United States (X tons) were the main suppliers of medical instruments imports to China, with a combined 46% share of total imports. Japan, Vietnam, Taiwan (Chinese), Italy, Pakistan, Costa Rica, Ireland, Israel, the Dominican Republic and Puerto Rico lagged somewhat behind, together accounting for a further 46%.

From 2012 to 2022, the biggest increases were recorded for Vietnam (with a CAGR of +87.8%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), Mexico ($X) and Japan ($X) constituted the largest medical instruments suppliers to China, with a combined 62% share of total imports. Germany, Ireland, Costa Rica, Vietnam, Israel, Puerto Rico, Italy, the Dominican Republic, Taiwan (Chinese) and Pakistan lagged somewhat behind, together comprising a further 31%.

Among the main suppliers, Vietnam, with a CAGR of +72.6%, recorded the highest rates of growth with regard to 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 medical instruments import price stood at $X per ton in 2022, growing by 11% against the previous year. Over the period under review, import price indicated pronounced growth from 2012 to 2022: its price increased at an average annual rate of +4.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, medical instruments import price increased by +66.3% against 2017 indices. The growth pace was the most rapid in 2021 when the average import price increased by 18% against the previous year. The import price peaked in 2022 and is expected to retain growth in years to come.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Ireland ($X per ton), while the price for Taiwan (Chinese) ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Puerto Rico (+20.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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