Costa Rica: Syringe Market 2024

Syringe Market Size in Costa Rica

The Costa Rican syringe market shrank to $X in 2022, with a decrease of -4.3% against the previous year. Over the period under review, the total consumption indicated a modest increase from 2012 to 2022: its value increased at an average annual rate of +1.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +5.8% against 2020 indices. Over the period under review, the market hit record highs at $X in 2018; however, from 2019 to 2022, consumption remained at a lower figure.

Syringe Production in Costa Rica

In value terms, syringe production declined remarkably to $X in 2022 estimated in export price. In general, production saw a deep downturn. The pace of growth was the most pronounced in 2021 when the production volume increased by 570%. Syringe production peaked at $X in 2018; however, from 2019 to 2022, production stood at a somewhat lower figure.

Syringe Exports

Exports from Costa Rica

In 2022, syringe exports from Costa Rica was estimated at X units, increasing by 5.4% compared with the previous year's figure. Overall, exports enjoyed a strong expansion. The most prominent rate of growth was recorded in 2013 with an increase of 137%. The exports peaked at X units in 2020; however, from 2021 to 2022, the exports failed to regain momentum.

In value terms, syringe exports declined to $X in 2022. In general, exports posted a resilient increase. The most prominent rate of growth was recorded in 2019 when exports increased by 53% against the previous year. As a result, the exports attained the peak of $X. From 2020 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

China (X units), the Netherlands (X units) and Ecuador (X units) were the main destinations of syringe exports from Costa Rica, with a combined 71% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Ecuador (with a CAGR of +171.3%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, China ($X), the United States ($X) and the Netherlands ($X) constituted the largest markets for syringe exported from Costa Rica worldwide, together comprising 92% of total exports. Ecuador, Panama, Japan, the UK, Nicaragua, Australia and South Africa lagged somewhat behind, together comprising a further 1.6%.

In terms of the main countries of destination, Ecuador, with a CAGR of +75.0%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average syringe export price stood at $X per unit in 2022, waning by -12.8% against the previous year. In general, the export price saw a mild slump. The growth pace was the most rapid in 2016 when the average export price increased by 46% against the previous year. Over the period under review, the average export prices reached the peak figure at $X per unit in 2017; however, from 2018 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the UK ($X per unit), while the average price for exports to Australia (less than $X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to South Africa (+72.0%), while the prices for the other major destinations experienced more modest paces of growth.

Syringe Imports

Imports into Costa Rica

In 2022, imports of syringes, with or without needles into Costa Rica rose slightly to X units, with an increase of 1.9% on 2021 figures. Overall, total imports indicated a pronounced increase from 2012 to 2022: its volume increased at an average annual rate of +2.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +6.0% against 2019 indices. The pace of growth was the most pronounced in 2017 with an increase of 56%. Imports peaked at X units in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

In value terms, syringe imports rose significantly to $X in 2022. In general, imports continue to indicate a buoyant expansion. The most prominent rate of growth was recorded in 2016 when imports increased by 53%. Over the period under review, imports hit record highs at $X in 2020; however, from 2021 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, China (X units) constituted the largest supplier of syringe to Costa Rica, with a 59% share of total imports. Moreover, syringe imports from China exceeded the figures recorded by the second-largest supplier, Singapore (X units), fivefold. The United States (X units) ranked third in terms of total imports with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China totaled +13.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Singapore (+2.4% per year) and the United States (-9.9% per year).

In value terms, the United States ($X) constituted the largest supplier of syringes, with or without needles to Costa Rica, comprising 79% of total imports. The second position in the ranking was held by China ($X), with a 10% share of total imports. It was followed by Singapore, with a 6.2% share.

From 2012 to 2022, the average annual growth rate of value from the United States stood at +13.6%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+6.5% per year) and Singapore (+1.1% per year).

Import Prices by Country

The average syringe import price stood at $X per thousand units in 2022, growing by 6.2% against the previous year. Overall, import price indicated buoyant growth from 2012 to 2022: its price increased at an average annual rate of +5.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, syringe import price decreased by -5.4% against 2020 indices. The pace of growth appeared the most rapid in 2016 an increase of 50%. Over the period under review, average import prices hit record highs at $X per thousand units in 2020; however, from 2021 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per thousand units), while the price for Hong Kong SAR ($X per thousand units) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+26.1%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform