Colombia: Dental Instruments Market 2024

Dental Instruments Market Size in Colombia

The Colombian dental instruments market soared to $X in 2021, picking up by 125% 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). In general, the total consumption indicated a prominent expansion from 2012 to 2021: its value increased at an average annual rate of +5.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Dental Instruments Exports

Exports from Colombia

In 2021, exports of instruments for dental sciences from Colombia fell slightly to X units, remaining stable against 2020 figures. In general, total exports indicated tangible growth from 2012 to 2021: its volume increased at an average annual rate of +2.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports decreased by -13.7% against 2018 indices. The most prominent rate of growth was recorded in 2018 with an increase of 63% against the previous year. As a result, the exports attained the peak of X units. From 2019 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, dental instruments exports surged to $X in 2021. Over the period under review, total exports indicated pronounced growth from 2012 to 2021: its value increased at an average annual rate of +2.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2018 when exports increased by 91%. As a result, the exports reached the peak of $X. From 2019 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

Ecuador (X units) was the main destination for dental instruments exports from Colombia, accounting for a 24% share of total exports. Moreover, dental instruments exports to Ecuador exceeded the volume sent to the second major destination, Malaysia (X units), twofold. The third position in this ranking was taken by Guatemala (X units), with an 11% share.

From 2012 to 2021, the average annual growth rate of volume to Ecuador amounted to +4.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Malaysia (+14.0% per year) and Guatemala (+21.6% per year).

In value terms, Ecuador ($X), the United States ($X) and Panama ($X) constituted the largest markets for dental instruments exported from Colombia worldwide, with a combined 48% share of total exports. These countries were followed by Malaysia, Costa Rica, Nicaragua, Canada, the UK, Guatemala, Honduras, El Salvador and Switzerland, which together accounted for a further 30%.

Canada, with a CAGR of +141.7%, recorded 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

In 2021, the average dental instruments export price amounted to $X per unit, surging by 33% against the previous year. Over the period under review, the export price showed a relatively flat trend pattern. The export price peaked at $X per unit in 2014; however, from 2015 to 2021, the export prices failed to regain momentum.

Prices varied noticeably country of destination: the country with the highest price was Switzerland ($X per unit), while the average price for exports to Guatemala ($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 Panama (+24.0%), while the prices for the other major destinations experienced more modest paces of growth.

Dental Instruments Imports

Imports into Colombia

Dental instruments imports into Colombia surged to X units in 2021, jumping by 128% against the previous year. Over the period under review, imports saw prominent growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, dental instruments imports skyrocketed to $X in 2021. Overall, total imports indicated a strong increase from 2012 to 2021: its value increased at an average annual rate of +5.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

China (X units), Brazil (X units) and the United States (X units) were the main suppliers of dental instruments imports to Colombia, with a combined 63% share of total imports. Pakistan, Germany, Vietnam and Switzerland lagged somewhat behind, together accounting for a further 29%.

From 2012 to 2021, the biggest increases were recorded for Vietnam (with a CAGR of +46.5%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), Switzerland ($X) and China ($X) were the largest dental instruments suppliers to Colombia, with a combined 46% share of total imports. The United States, Brazil, Pakistan and Vietnam lagged somewhat behind, together comprising a further 27%.

In terms of the main suppliers, Vietnam, with a CAGR of +33.7%, saw 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 dental instruments import price stood at $X per unit in 2021, dropping by -5.5% against the previous year. In general, the import price, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 when the average import price increased by 12% against the previous year. The import price peaked at $X per unit in 2017; however, from 2018 to 2021, import prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+7.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :