Eastern Asia: Syringe Market 2024

Syringe Market Size in Eastern Asia

The East Asian syringe market stood at $X in 2022, with an increase of 3.1% against the previous year. Over the period under review, consumption, however, continues to indicate a slight slump. The level of consumption peaked at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Syringe Production in Eastern Asia

In value terms, syringe production shrank to $X in 2022 estimated in export price. Overall, production saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when the production volume increased by 13%. The level of production peaked at $X in 2021, and then reduced in the following year.

Syringe Exports

Exports in Eastern Asia

In 2022, approx. X units of syringes, with or without needles were exported in Eastern Asia; declining by -11.8% on the previous year. In general, exports, however, showed resilient growth. The growth pace was the most rapid in 2017 with an increase of 37% against the previous year. The volume of export peaked at X units in 2021, and then dropped in the following year.

In value terms, syringe exports reduced dramatically to $X in 2022. Total exports indicated a strong expansion from 2012 to 2022: its value increased at an average annual rate of +5.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +10.7% against 2020 indices. The pace of growth was the most pronounced in 2021 with an increase of 34% against the previous year. As a result, the exports reached the peak of $X, and then declined rapidly in the following year.

Exports by Country

China dominates exports structure, amounting to X units, which was near 94% of total exports in 2022. South Korea (X units) followed a long way behind the leaders.

China was also the fastest-growing in terms of the syringes, with or without needles exports, with a CAGR of +10.7% from 2012 to 2022. South Korea (-6.2%) illustrated a downward trend over the same period. While the share of China (+12 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of South Korea (-9.5 p.p.) displayed negative dynamics.

In value terms, China ($X) remains the largest syringe supplier in Eastern Asia, comprising 88% of total exports. The second position in the ranking was taken by South Korea ($X), with a 3.2% share of total exports.

In China, syringe exports expanded at an average annual rate of +7.2% over the period from 2012-2022.

Export Prices by Country

The export price in Eastern Asia stood at $X per thousand units in 2022, falling by -6.1% against the previous year. Over the period under review, the export price continues to indicate a pronounced decrease. The pace of growth appeared the most rapid in 2016 when the export price increased by 47%. Over the period under review, the export prices attained the peak figure at $X per thousand units in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

Average prices varied somewhat amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was South Korea ($X per thousand units), while China amounted to $X per thousand units.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (+4.0%).

Syringe Imports

Imports in Eastern Asia

After three years of growth, purchases abroad of syringes, with or without needles decreased by -12.7% to X units in 2022. Total imports indicated a buoyant increase from 2012 to 2022: its volume increased at an average annual rate of +5.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2020 with an increase of 25% against the previous year. Over the period under review, imports attained the peak figure at X units in 2021, and then dropped in the following year.

In value terms, syringe imports dropped to $X in 2022. Total imports indicated a buoyant increase from 2012 to 2022: its value increased at an average annual rate of +5.1% 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 +22.5% against 2018 indices. The pace of growth was the most pronounced in 2021 when imports increased by 25%. As a result, imports attained the peak of $X, and then fell in the following year.

Imports by Country

In 2022, China (X units) was the major importer of syringes, with or without needles, committing 52% of total imports. Japan (X units) held the second position in the ranking, distantly followed by South Korea (X units), Taiwan (Chinese) (X units) and Hong Kong SAR (X units). All these countries together held approx. 47% share of total imports.

China was also the fastest-growing in terms of the syringes, with or without needles imports, with a CAGR of +8.3% from 2012 to 2022. At the same time, Hong Kong SAR (+7.9%), South Korea (+5.6%) and Taiwan (Chinese) (+2.7%) displayed positive paces of growth. Japan experienced a relatively flat trend pattern. China (+13 p.p.) significantly strengthened its position in terms of the total imports, while Taiwan (Chinese) and Japan saw its share reduced by -2.5% and -12.3% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) constitutes the largest market for imported syringes, with or without needles in Eastern Asia, comprising 57% of total imports. The second position in the ranking was held by Japan ($X), with a 19% share of total imports. It was followed by South Korea, with a 12% share.

From 2012 to 2022, the average annual rate of growth in terms of value in China stood at +8.4%. In the other countries, the average annual rates were as follows: Japan (+1.2% per year) and South Korea (+7.0% per year).

Import Prices by Country

In 2022, the import price in Eastern Asia amounted to $X per unit, therefore, remained relatively stable against the previous year. In general, the import price saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when the import price increased by 10%. Over the period under review, import prices hit record highs at $X per unit in 2016; however, from 2017 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, 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 2022, the most notable rate of growth in terms of prices was attained by South Korea (+1.2%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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