China: Medical Furniture Market 2024

Medical Furniture Market Size in China

In 2022, after ten years of growth, there was significant decline in the Chinese medical furniture market, when its value decreased by -28% to $X. Over the period under review, consumption recorded a perceptible setback. As a result, consumption attained the peak level of $X, and then shrank rapidly in the following year.

Medical Furniture Production in China

In value terms, medical furniture production skyrocketed to $X in 2022 estimated in export price. Overall, production, however, showed a abrupt decrease. Over the period under review, production hit record highs at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Medical Furniture Exports

Exports from China

Medical furniture exports from China skyrocketed to X units in 2022, rising by 24% against the previous year. Over the period under review, exports posted prominent growth. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, medical furniture exports amounted to $X in 2022. In general, exports enjoyed a buoyant increase. The pace of growth was the most pronounced in 2020 with an increase of 25%. Over the period under review, the exports attained the maximum in 2022 and are expected to retain growth in the immediate term.

Exports by Country

The United States (X units) was the main destination for medical furniture exports from China, accounting for a 20% share of total exports. Moreover, medical furniture exports to the United States exceeded the volume sent to the second major destination, Germany (X units), sixfold. The third position in this ranking was taken by Russia (X units), with a 2.9% share.

From 2020 to 2022, the average annual growth rate of volume to the United States amounted to -30.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+3.0% per year) and Russia (+68.0% per year).

In value terms, the United States ($X) remains the key foreign market for medical, surgical or veterinary furniture exports from China, comprising 28% of total exports. The second position in the ranking was held by Germany ($X), with a 4.8% share of total exports. It was followed by Japan, with a 3.5% share.

From 2020 to 2022, the average annual rate of growth in terms of value to the United States stood at +8.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+8.8% per year) and Japan (+9.9% per year).

Export Prices by Country

The average medical furniture export price stood at $X per unit in 2022, waning by -16.1% against the previous year. In general, the export price recorded a perceptible reduction. The most prominent rate of growth was recorded in 2021 an increase of 13%. As a result, the export price reached the peak level of $X per unit, and then declined significantly in the following year.

Average prices varied somewhat for the major overseas markets. In 2022, amid the top suppliers, the countries with the highest prices were France ($X per unit) and the Philippines ($X per unit), while the average price for exports to Russia ($X per unit) and Italy ($X per unit) were amongst the lowest.

From 2020 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Italy (+71.5%), while the prices for the other major destinations experienced more modest paces of growth.

Medical Furniture Imports

Imports into China

After ten years of growth, supplies from abroad of medical, surgical or veterinary furniture decreased by -47.4% to X units in 2022. Over the period under review, imports, however, enjoyed significant growth. The pace of growth appeared the most rapid in 2021 with an increase of 466% against the previous year. As a result, imports reached the peak of X units, and then shrank sharply in the following year.

In value terms, medical furniture imports declined significantly to $X in 2022. Overall, imports saw a slight decline. The pace of growth appeared the most rapid in 2020 when imports increased by 12%. As a result, imports attained the peak of $X. From 2021 to 2022, the growth of imports failed to regain momentum.

Imports by Country

Germany (X units), Japan (X units) and Cambodia (X units) were the main suppliers of medical furniture imports to China, with a combined 50% share of total imports.

From 2020 to 2022, the biggest increases were recorded for Japan (with a CAGR of +545.7%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest medical furniture suppliers to China were Germany ($X), the United States ($X) and Japan ($X), with a combined 62% share of total imports. The UK, Poland and Cambodia lagged somewhat behind, together comprising a further 6.5%.

The UK, with a CAGR of +14.4%, 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 2022, the average medical furniture import price amounted to $X per unit, growing by 58% against the previous year. Over the period under review, the import price, however, showed a sharp contraction. Over the period under review, average import prices reached the peak figure at $X per unit in 2020; however, from 2021 to 2022, import prices failed to regain momentum.

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 the United States ($X per unit), while the price for Cambodia ($X per unit) was amongst the lowest.

From 2020 to 2022, the most notable rate of growth in terms of prices was attained by the United States (-5.1%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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