Eastern Asia: Ophthalmic Instruments Market 2024

Ophthalmic Instruments Market Size in Eastern Asia

In 2021, after two years of growth, there was decline in the East Asian ophthalmic instruments market, when its value decreased by -4.9% to $X. The total consumption indicated strong growth from 2012 to 2021: its value increased at an average annual rate of +6.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The level of consumption peaked at $X in 2020, and then shrank modestly in the following year.

Ophthalmic Instruments Production in Eastern Asia

In value terms, ophthalmic instruments production dropped slightly to $X in 2021 estimated in export price. The total production indicated buoyant growth from 2012 to 2021: its value increased at an average annual rate of +6.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +19.3% against 2018 indices. The pace of growth was the most pronounced in 2016 with an increase of 20%. Over the period under review, production attained the peak level at $X in 2020, and then contracted in the following year.

Ophthalmic Instruments Exports

Exports in Eastern Asia

In 2021, the amount of ophthalmic instruments and appliances exported in Eastern Asia skyrocketed to X tons, growing by 51% on the previous year. The total export volume increased at an average annual rate of +3.7% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, ophthalmic instruments exports soared to $X in 2021. The total export value increased at an average annual rate of +2.4% over the period from 2012 to 2021; however, the trend pattern remained relatively stable, with only minor fluctuations being recorded throughout the analyzed period. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

China represented the major exporting country with an export of around X tons, which resulted at 57% of total exports. Japan (X tons) ranks second in terms of the total exports with a 26% share, followed by South Korea (12%). Hong Kong SAR (X tons) held a relatively small share of total exports.

China was also the fastest-growing in terms of the ophthalmic instruments and appliances exports, with a CAGR of +5.4% from 2012 to 2021. At the same time, South Korea (+3.2%) and Japan (+1.3%) displayed positive paces of growth. Hong Kong SAR experienced a relatively flat trend pattern. While the share of China (+7.8 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Hong Kong SAR (-1.7 p.p.) and Japan (-5.8 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Japan ($X) remains the largest ophthalmic instruments supplier in Eastern Asia, comprising 50% of total exports. The second position in the ranking was held by China ($X), with a 19% share of total exports. It was followed by Hong Kong SAR, with a 15% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Japan was relatively modest. In the other countries, the average annual rates were as follows: China (+8.3% per year) and Hong Kong SAR (+2.8% per year).

Export Prices by Country

The export price in Eastern Asia stood at $X per ton in 2021, falling by -17.8% against the previous year. In general, the export price recorded a slight reduction. The pace of growth appeared the most rapid in 2020 an increase of 8.7%. As a result, the export price attained the peak level of $X per ton, and then reduced markedly in the following year.

Prices varied noticeably country of origin: the country with the highest price was Hong Kong SAR ($X per ton), while China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+2.8%), while the other leaders experienced more modest paces of growth.

Ophthalmic Instruments Imports

Imports in Eastern Asia

In 2021, approx. X tons of ophthalmic instruments and appliances were imported in Eastern Asia; growing by 13% compared with the previous year. Total imports indicated a remarkable increase from 2012 to 2021: its volume increased at an average annual rate of +6.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -5.1% against 2019 indices. The pace of growth appeared the most rapid in 2016 when imports increased by 22%. Over the period under review, imports reached the peak figure at X tons in 2019; however, from 2020 to 2021, imports remained at a lower figure.

In value terms, ophthalmic instruments imports surged to $X in 2021. Total imports indicated a resilient expansion from 2012 to 2021: its value increased at an average annual rate of +8.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +106.4% against 2012 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

China was the main importer of ophthalmic instruments and appliances in Eastern Asia, with the volume of imports recording X tons, which was near 52% of total imports in 2021. It was distantly followed by Japan (X tons), Hong Kong SAR (X tons) and Taiwan (Chinese) (X tons), together committing a 44% share of total imports. South Korea (X tons) held a relatively small share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by China (with a CAGR of +12.7%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X) constitutes the largest market for imported ophthalmic instruments and appliances in Eastern Asia, comprising 68% of total imports. The second position in the ranking was held by Japan ($X), with a 20% share of total imports. It was followed by Hong Kong SAR, with a 4.5% share.

In China, ophthalmic instruments imports expanded at an average annual rate of +17.6% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Japan (-0.7% per year) and Hong Kong SAR (-1.9% per year).

Import Prices by Country

The import price in Eastern Asia stood at $X per ton in 2021, rising by 13% against the previous year. Over the last nine-year period, it increased at an average annual rate of +2.2%. The pace of growth was the most pronounced in 2017 when the import price increased by 18% against the previous year. The level of import peaked in 2021 and is expected to retain growth in the near future.

Prices varied noticeably country of destination: the country with the highest price was China ($X per ton), while Japan ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+4.3%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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