Eastern Europe: Ophthalmic Instruments Market 2024

Ophthalmic Instruments Market Size in Eastern Europe

The East European ophthalmic instruments market expanded remarkably to $X in 2021, with an increase of 6.3% against the previous year. The market value increased at an average annual rate of +3.7% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The level of consumption peaked in 2021 and is expected to retain growth in the near future.

Ophthalmic Instruments Production in Eastern Europe

In value terms, ophthalmic instruments production dropped significantly to $X in 2021 estimated in export price. The total production indicated a prominent increase from 2012 to 2021: its value increased at an average annual rate of +5.1% 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 +27.5% against 2019 indices. The pace of growth was the most pronounced in 2017 when the production volume increased by 63%. As a result, production attained the peak level of $X. From 2018 to 2021, production growth remained at a somewhat lower figure.

Ophthalmic Instruments Exports

Exports in Eastern Europe

Ophthalmic instruments exports soared to X tons in 2021, rising by 45% on 2020 figures. Over the period under review, exports continue to indicate strong growth. The most prominent rate of growth was recorded in 2018 when exports increased by 55% against the previous year. The volume of export peaked in 2021 and is expected to retain growth in the immediate term.

In value terms, ophthalmic instruments exports amounted to $X in 2021. Overall, exports saw a prominent increase. The growth pace was the most rapid in 2018 with an increase of 57%. Over the period under review, the exports hit record highs in 2021 and are expected to retain growth in the near future.

Exports by Country

Poland represented the key exporting country with an export of about X tons, which resulted at 55% of total exports. It was distantly followed by Lithuania (X tons), the Czech Republic (X tons) and Romania (X tons), together achieving a 28% share of total exports. The following exporters - Russia (X tons), Bulgaria (X tons) and Hungary (X tons) - together made up 11% of total exports.

From 2012 to 2021, average annual rates of growth with regard to ophthalmic instruments exports from Poland stood at +17.4%. At the same time, Bulgaria (+34.6%), Lithuania (+26.6%), Romania (+21.6%), Hungary (+14.8%), the Czech Republic (+5.5%) and Russia (+3.2%) displayed positive paces of growth. Moreover, Bulgaria emerged as the fastest-growing exporter exported in Eastern Europe, with a CAGR of +34.6% from 2012-2021. From 2012 to 2021, the share of Poland, Lithuania, Romania and Bulgaria increased by +14, +7.3, +3.2 and +2.9 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Poland ($X) remains the largest ophthalmic instruments supplier in Eastern Europe, comprising 46% of total exports. The second position in the ranking was taken by the Czech Republic ($X), with a 15% share of total exports. It was followed by Lithuania, with a 15% share.

In Poland, ophthalmic instruments exports expanded at an average annual rate of +10.4% over the period from 2012-2021. In the other countries, the average annual rates were as follows: the Czech Republic (+14.3% per year) and Lithuania (+29.2% per year).

Export Prices by Country

In 2021, the export price in Eastern Europe amounted to $X per ton, shrinking by -27.7% against the previous year. Over the period under review, the export price saw a mild reduction. The most prominent rate of growth was recorded in 2017 when the export price increased by 14% against the previous year. The level of export peaked at $X per ton in 2020, and then declined notably in the following year.

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was Russia ($X per ton), while Bulgaria ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Czech Republic (+8.3%), while the other leaders experienced more modest paces of growth.

Ophthalmic Instruments Imports

Imports in Eastern Europe

In 2021, ophthalmic instruments imports in Eastern Europe expanded notably to X tons, growing by 11% compared with 2020. Total imports indicated a noticeable increase from 2012 to 2021: its volume increased at an average annual rate of +2.8% 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 -10.6% against 2019 indices. The most prominent rate of growth was recorded in 2018 with an increase of 23% against the previous year. Over the period under review, imports attained the maximum at X tons in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

In value terms, ophthalmic instruments imports soared to $X in 2021. Total imports indicated a pronounced expansion from 2012 to 2021: its value increased at an average annual rate of +4.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2018 with an increase of 30% against the previous year. The level of import peaked in 2021 and is likely to see gradual growth in years to come.

Imports by Country

Russia (X tons) and Poland (X tons) represented the major importers of ophthalmic instruments and appliances in 2021, recording approx. 32% and 28% of total imports, respectively. The Czech Republic (X tons) ranks next in terms of the total imports with an 11% share, followed by Romania (6.6%) and Hungary (5%). The following importers - Ukraine (X tons) and Slovakia (X tons) - together made up 7.6% 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 Romania (with a CAGR of +10.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Russia ($X) constitutes the largest market for imported ophthalmic instruments and appliances in Eastern Europe, comprising 44% of total imports. The second position in the ranking was taken by Poland ($X), with a 17% share of total imports. It was followed by the Czech Republic, with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Russia totaled +3.4%. The remaining importing countries recorded the following average annual rates of imports growth: Poland (+4.3% per year) and the Czech Republic (+7.5% per year).

Import Prices by Country

The import price in Eastern Europe stood at $X per ton in 2021, rising by 11% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +2.0%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was Russia ($X per ton), while Poland ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Hungary (+4.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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