Eastern Asia: Pacemaker Market 2024

Pacemaker Market Size in Eastern Asia

The East Asian pacemaker market surged to $X in 2021, with an increase of 19% against the previous year. In general, consumption saw a relatively flat trend pattern. The level of consumption peaked at $X in 2019; however, from 2020 to 2021, consumption failed to regain momentum.

Pacemaker Production in Eastern Asia

In value terms, pacemaker production surged to $X in 2021 estimated in export price. The total production indicated a noticeable increase from 2012 to 2021: its value increased at an average annual rate of +2.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -18.4% against 2019 indices. The most prominent rate of growth was recorded in 2015 when the production volume increased by 45%. The level of production peaked at $X in 2019; however, from 2020 to 2021, production remained at a lower figure.

Pacemaker Exports

Exports in Eastern Asia

For the third year in a row, Eastern Asia recorded decline in shipments abroad of pacemakers for stimulating heart muscles (excl. parts and accessories), which decreased by -21.2% to X units in 2021. Overall, exports showed a sharp decline. The pace of growth appeared the most rapid in 2015 when exports increased by 475% against the previous year. The volume of export peaked at X units in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, pacemaker exports contracted markedly to $X in 2021. In general, exports saw a dramatic setback. The most prominent rate of growth was recorded in 2018 when exports increased by 196%. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

China was the largest exporter of pacemakers for stimulating heart muscles (excl. parts and accessories) in Eastern Asia, with the volume of exports accounting for X units, which was approx. 60% of total exports in 2021. It was distantly followed by South Korea (X units), Taiwan (Chinese) (X units) and Hong Kong SAR (X units), together comprising a 38% share of total exports. Japan (X units) followed a long way behind the leaders.

China was also the fastest-growing in terms of the pacemakers for stimulating heart muscles (excl. parts and accessories) exports, with a CAGR of +78.0% from 2012 to 2021. At the same time, Taiwan (Chinese) (+20.9%) displayed positive paces of growth. By contrast, South Korea (-2.2%), Japan (-8.0%) and Hong Kong SAR (-48.1%) illustrated a downward trend over the same period. From 2012 to 2021, the share of China, South Korea and Taiwan (Chinese) increased by +60, +22 and +7.3 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest pacemaker supplying countries in Eastern Asia were China ($X), South Korea ($X) and Hong Kong SAR ($X), together comprising 93% of total exports.

Among the main exporting countries, China, with a CAGR of +76.9%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

The export price in Eastern Asia stood at $X per unit in 2021, falling by -41.9% against the previous year. Over the period under review, the export price, however, posted a mild expansion. The most prominent rate of growth was recorded in 2016 an increase of 235% against the previous year. The level of export peaked at $X per unit in 2018; however, from 2019 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Hong Kong SAR ($X per unit), while Taiwan (Chinese) ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+13.4%), while the other leaders experienced a decline in the export price figures.

Pacemaker Imports

Imports in Eastern Asia

Pacemaker imports was estimated at X units in 2021, increasing by 11% on the previous year's figure. In general, imports, however, recorded a mild reduction. The most prominent rate of growth was recorded in 2016 with an increase of 19% against the previous year. Over the period under review, imports attained the peak figure at X units in 2017; however, from 2018 to 2021, imports stood at a somewhat lower figure.

In value terms, pacemaker imports soared to $X in 2021. Overall, imports showed a relatively flat trend pattern. Over the period under review, imports hit record highs at $X in 2019; however, from 2020 to 2021, imports remained at a lower figure.

Imports by Country

China (X units) and Japan (X units) prevails in imports structure, together generating 91% of total imports. It was distantly followed by South Korea (X units), committing a 6.2% share of total imports. Taiwan (Chinese) (X units) took 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 South Korea (with a CAGR of +19.1%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest pacemaker importing markets in Eastern Asia were China ($X), Japan ($X) and South Korea ($X), with a combined 96% share of total imports.

South Korea, with a CAGR of +12.3%, recorded the highest growth rate of the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Eastern Asia stood at $X per unit in 2021, surging by 9.7% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +2.2%. The pace of growth was the most pronounced in 2020 when the import price increased by 20% against the previous year. Over the period under review, import prices hit record highs in 2021 and is expected to retain growth in years to come.

Average prices varied noticeably amongst the major importing countries. In 2021, major importing countries recorded the following prices: in Japan ($X per unit) and South Korea ($X per unit), while Taiwan (Chinese) ($X per unit) and China ($X per unit) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+4.8%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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