Costa Rica: X-Ray Apparatus Market 2024

X-Ray Apparatus Market Size in Costa Rica

After two years of growth, the Costa Rican x-ray apparatus market decreased by -73.6% to $X in 2022. In general, consumption recorded a deep slump. As a result, consumption reached the peak level of $X, and then declined significantly in the following year.

X-Ray Apparatus Exports

Exports from Costa Rica

X-ray apparatus exports from Costa Rica soared to X units in 2022, picking up by 17% on 2021. In general, exports continue to indicate significant growth. The growth pace was the most rapid in 2017 when exports increased by 786% against the previous year. Over the period under review, the exports attained the maximum in 2022 and are likely to continue growth in the near future.

In value terms, x-ray apparatus exports declined markedly to $X in 2022. Overall, exports saw significant growth. The growth pace was the most rapid in 2013 with an increase of 510%. The exports peaked at $X in 2021, and then shrank sharply in the following year.

Exports by Country

Belgium (X units) was the main destination for x-ray apparatus exports from Costa Rica, with a 75% share of total exports. Moreover, x-ray apparatus exports to Belgium exceeded the volume sent to the second major destination, Australia (X units), tenfold. Guatemala (X units) ranked third in terms of total exports with a 5.7% share.

From 2012 to 2022, the average annual growth rate of volume to Belgium totaled +56.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Australia (+24.6% per year) and Guatemala (+34.9% per year).

In value terms, the United States ($X) emerged as the key foreign market for x-ray apparatus exports from Costa Rica, comprising 14% of total exports. The second position in the ranking was taken by Belgium ($X), with a 6.2% share of total exports. It was followed by Guatemala, with a 1.1% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States amounted to +38.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Belgium (+24.3% per year) and Guatemala (+21.2% per year).

Export Prices by Country

The average x-ray apparatus export price stood at $X per unit in 2022, with a decrease of -44.1% against the previous year. Overall, the export price, however, continues to indicate moderate growth. The pace of growth was the most pronounced in 2018 an increase of 211%. The export price peaked at $X per unit in 2015; however, from 2016 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per unit), while the average price for exports to Belgium ($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 Panama (+9.4%), while the prices for the other major destinations experienced mixed trend patterns.

X-Ray Apparatus Imports

Imports into Costa Rica

After two years of growth, purchases abroad of x-ray apparatus decreased by -52.3% to X units in 2022. In general, imports, however, posted a pronounced expansion. The pace of growth appeared the most rapid in 2021 with an increase of 141%. As a result, imports reached the peak of X units, and then dropped remarkably in the following year.

In value terms, x-ray apparatus imports contracted remarkably to $X in 2022. Over the period under review, imports, however, saw measured growth. The pace of growth appeared the most rapid in 2021 with an increase of 92% against the previous year. As a result, imports reached the peak of $X, and then contracted dramatically in the following year.

Imports by Country

In 2022, the United States (X units) constituted the largest supplier of x-ray apparatus to Costa Rica, accounting for a 26% share of total imports. Moreover, x-ray apparatus imports from the United States exceeded the figures recorded by the second-largest supplier, China (X units), threefold. The third position in this ranking was held by Germany (X units), with a 9.1% share.

From 2012 to 2022, the average annual growth rate of volume from the United States amounted to +5.8%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-10.3% per year) and Germany (+7.0% per year).

In value terms, Germany ($X), the United States ($X) and China ($X) were the largest x-ray apparatus suppliers to Costa Rica, together accounting for 46% of total imports. The Netherlands, Malaysia, Finland, Panama, Japan, Denmark, South Korea, Spain, Mexico and the Dominican Republic lagged somewhat behind, together comprising a further 24%.

Panama, with a CAGR of +48.3%, saw the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average x-ray apparatus import price stood at $X per unit in 2022, increasing by 60% against the previous year. In general, import price indicated slight growth from 2012 to 2022: its price increased at an average annual rate of +1.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, average import prices hit record highs at $X per unit in 2019; however, from 2020 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Germany ($X per unit), while the price for the Dominican Republic ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Panama (+19.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform