Eastern Europe: Medical Instruments Market 2024

Medical Instruments Market Size in Eastern Europe

In 2022, the East European medical instruments market increased by 3% to $X, rising for the seventh consecutive year after two years of decline. The total consumption indicated moderate growth from 2012 to 2022: its value increased at an average annual rate of +2.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +102.2% against 2015 indices. The level of consumption peaked in 2022 and is likely to see steady growth in years to come.

Medical Instruments Production in Eastern Europe

In value terms, medical instruments production reached $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.7% over the period from 2012 to 2022; however, the trend pattern remained relatively stable, with only minor fluctuations in certain years. The pace of growth appeared the most rapid in 2014 when the production volume increased by 20%. The level of production peaked at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Medical Instruments Exports

Exports in Eastern Europe

In 2022, approx. X tons of instruments used in medical sciences were exported in Eastern Europe; growing by 13% compared with the previous year's figure. Total exports indicated prominent growth from 2012 to 2022: its volume increased at an average annual rate of +6.6% 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 +58.3% against 2018 indices. The most prominent rate of growth was recorded in 2019 with an increase of 18%. Over the period under review, the exports attained the peak figure in 2022 and are expected to retain growth in the immediate term.

In value terms, medical instruments exports expanded significantly to $X in 2022. In general, exports showed a buoyant increase. The pace of growth was the most pronounced in 2021 when exports increased by 17% against the previous year. The level of export peaked in 2022 and is likely to continue growth in the near future.

Exports by Country

The shipments of the three major exporters of instruments used in medical sciences, namely Poland, the Czech Republic and Lithuania, represented more than two-thirds of total export. It was distantly followed by Hungary (X tons), Romania (X tons) and Estonia (X tons), together comprising a 25% share of total exports. Slovakia (X tons) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Estonia (with a CAGR of +34.1%), while the other leaders experienced more modest paces of growth.

In value terms, Poland ($X) remains the largest medical instruments supplier in Eastern Europe, comprising 31% of total exports. The second position in the ranking was taken by the Czech Republic ($X), with a 15% share of total exports. It was followed by Hungary, with a 10% share.

In Poland, medical instruments exports expanded at an average annual rate of +11.3% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: the Czech Republic (+4.7% per year) and Hungary (+9.7% per year).

Export Prices by Country

The export price in Eastern Europe stood at $X per ton in 2022, shrinking by -2.9% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.1%. The most prominent rate of growth was recorded in 2018 an increase of 17%. As a result, the export price attained the peak level of $X per ton. From 2019 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Poland ($X per ton), while Lithuania ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Slovakia (+3.7%), while the other leaders experienced more modest paces of growth.

Medical Instruments Imports

Imports in Eastern Europe

After seven years of growth, overseas purchases of instruments used in medical sciences decreased by -6.1% to X tons in 2022. Over the period under review, imports, however, saw a resilient expansion. The pace of growth was the most pronounced in 2013 when imports increased by 38% against the previous year. The volume of import peaked at X tons in 2021, and then declined in the following year.

In value terms, medical instruments imports contracted remarkably to $X in 2022. In general, imports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 with an increase of 17%. The level of import peaked at $X in 2021, and then reduced markedly in the following year.

Imports by Country

In 2022, Poland (X tons), Bulgaria (X tons), the Czech Republic (X tons), Latvia (X tons), Estonia (X tons), Romania (X tons) and Hungary (X tons) represented the largest importer of instruments used in medical sciences in Eastern Europe, mixing up 87% of total import. It was distantly followed by Lithuania (X tons), mixing up a 4.9% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Estonia (with a CAGR of +47.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest medical instruments importing markets in Eastern Europe were Poland ($X), the Czech Republic ($X) and Romania ($X), with a combined 55% share of total imports. Bulgaria, Hungary, Lithuania, Estonia and Latvia lagged somewhat behind, together comprising a further 24%.

In terms of the main importing countries, Bulgaria, with a CAGR of +17.1%, saw the highest growth rate of 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

In 2022, the import price in Eastern Europe amounted to $X per ton, dropping by -18.9% against the previous year. In general, the import price recorded a abrupt curtailment. The pace of growth appeared the most rapid in 2014 an increase of 37% against the previous year. Over the period under review, import prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Poland ($X per ton), while Latvia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Czech Republic (+0.0%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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