Denmark: Medical Instruments Market 2024

Medical Instruments Market Size in Denmark

The Danish medical instruments market expanded modestly to $X in 2022, surging by 3.5% against the previous year. Over the period under review, consumption, however, showed noticeable growth. Medical instruments consumption peaked in 2022 and is likely to continue growth in the immediate term.

Medical Instruments Production in Denmark

In value terms, medical instruments production expanded significantly to $X in 2022 estimated in export price. Over the period under review, the total production indicated a temperate expansion from 2012 to 2022: its value increased at an average annual rate of +2.4% 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 -9.2% against 2020 indices. The pace of growth appeared the most rapid in 2020 when the production volume increased by 56% against the previous year. As a result, production attained the peak level of $X. From 2021 to 2022, production growth remained at a somewhat lower figure.

Medical Instruments Exports

Exports from Denmark

In 2022, shipments abroad of instruments used in medical sciences increased by 5.3% to X tons, rising for the third consecutive year after two years of decline. In general, exports showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 when exports increased by 41% against the previous year. As a result, the exports reached the peak of X tons. From 2014 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, medical instruments exports expanded to $X in 2022. Overall, exports showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 when exports increased by 35%. As a result, the exports attained the peak of $X. From 2014 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Norway (X tons), the UK (X tons) and Germany (X tons) were the main destinations of medical instruments exports from Denmark, with a combined 37% share of total exports. Sweden, France, Finland, Faroe Islands, the Netherlands, Belgium, the United States, Ethiopia and Turkey lagged somewhat behind, together comprising a further 42%.

From 2012 to 2022, the biggest increases were recorded for Ethiopia (with a CAGR of +52.1%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for medical instruments exported from Denmark were Sweden ($X), the United States ($X) and Norway ($X), with a combined 29% share of total exports. The UK, Finland, Ethiopia, Germany, France, the Netherlands, Belgium, Faroe Islands and Turkey lagged somewhat behind, together accounting for a further 39%.

Ethiopia, with a CAGR of +57.0%, saw the highest rates of growth with regard to the value of exports, in terms of 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 2022, the average medical instruments export price amounted to $X per ton, with a decrease of -2.9% against the previous year. In general, the export price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 an increase of 11%. As a result, the export price reached the peak level of $X per ton. From 2019 to 2022, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Faroe Islands ($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 Sweden (+8.2%), while the prices for the other major destinations experienced more modest paces of growth.

Medical Instruments Imports

Imports into Denmark

In 2022, after six years of growth, there was significant decline in overseas purchases of instruments used in medical sciences, when their volume decreased by -6.4% to X tons. Over the period under review, total imports indicated a notable expansion from 2012 to 2022: its volume increased at an average annual rate of +4.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2019 when imports increased by 24%. Over the period under review, imports hit record highs at X tons in 2021, and then fell in the following year.

In value terms, medical instruments imports expanded remarkably to $X in 2022. The total import value increased at an average annual rate of +2.6% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2019 when imports increased by 17% against the previous year. Over the period under review, imports attained the peak figure in 2022 and are likely to continue growth in years to come.

Imports by Country

Germany (X tons), Sweden (X tons) and the Netherlands (X tons) were the main suppliers of medical instruments imports to Denmark, with a combined 55% share of total imports. China, the United States, Poland, Italy, Belgium, Portugal, the UK, Pakistan, Finland and Lithuania lagged somewhat behind, together accounting for a further 38%.

From 2012 to 2022, the biggest increases were recorded for Finland (with a CAGR of +27.7%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the Netherlands ($X), Germany ($X) and the United States ($X) were the largest medical instruments suppliers to Denmark, with a combined 55% share of total imports. Sweden, Belgium, the UK, China, Poland, Italy, Portugal, Finland, Lithuania and Pakistan lagged somewhat behind, together accounting for a further 34%.

In terms of the main suppliers, China, with a CAGR of +14.2%, 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, surging by 19% against the previous year. Overall, the import price, however, saw a slight downturn. Over the period under review, average import prices hit record highs at $X per ton in 2012; however, from 2013 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 ($X per ton), while the price for Portugal ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Lithuania (+11.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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