Europe: Medical Instruments Market 2024

Medical Instruments Market Size in Europe

For the seventh consecutive year, the Europe medical instruments market recorded growth in sales value, which increased by 19% to $X in 2022. The total consumption indicated a prominent increase from 2012 to 2022: its value increased at an average annual rate of +5.7% 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 +49.3% against 2014 indices. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Medical Instruments Production in Europe

In value terms, medical instruments production shrank slightly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +3.4% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2017 with an increase of 18%. Over the period under review, production reached the maximum level at $X in 2021, and then fell slightly in the following year.

Medical Instruments Exports

Exports in Europe

After two years of growth, overseas shipments of instruments used in medical sciences decreased by -0.6% to X tons in 2022. Total exports indicated prominent growth from 2012 to 2022: its volume 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, exports increased by +61.3% against 2015 indices. The pace of growth was the most pronounced in 2021 with an increase of 18%. As a result, the exports attained the peak of X tons, leveling off in the following year.

In value terms, medical instruments exports expanded slightly to $X in 2022. Total exports indicated notable growth from 2012 to 2022: its value increased at an average annual rate of +4.3% 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 +64.5% against 2015 indices. The growth pace was the most rapid in 2018 with an increase of 17%. The level of export peaked in 2022 and is expected to retain growth in the immediate term.

Exports by Country

In 2022, Germany (X tons), distantly followed by Italy (X tons), the Netherlands (X tons), the UK (X tons), Slovenia (X tons), France (X tons), Belgium (X tons) and Poland (X tons) represented the major exporters of instruments used in medical sciences, together committing 72% of total exports. Austria (X tons), the Czech Republic (X tons), Lithuania (X tons), Serbia (X tons) and Ireland (X tons) held a little share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Slovenia (with a CAGR of +31.1%), while the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), the Netherlands ($X) and Belgium ($X) constituted the countries with the highest levels of exports in 2022, together comprising 58% of total exports. Ireland, the UK, France, Italy, Poland, Slovenia, the Czech Republic, Austria, Lithuania and Serbia lagged somewhat behind, together comprising a further 26%.

Slovenia, with a CAGR of +23.5%, recorded the highest rates of growth with regard to the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the export price in Europe amounted to $X per ton, picking up by 5.2% against the previous year. Over the period under review, the export price, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2019 when the export price increased by 5.3%. Over the period under review, the export prices hit record highs at $X per ton in 2014; however, from 2015 to 2022, the export prices stood at a somewhat 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 Ireland ($X per ton), while Serbia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Ireland (+4.6%), while the other leaders experienced more modest paces of growth.

Medical Instruments Imports

Imports in Europe

In 2022, purchases abroad of instruments used in medical sciences increased by 4.2% to X tons, rising for the seventh year in a row after two years of decline. Total imports indicated buoyant growth from 2012 to 2022: its volume increased at an average annual rate of +5.8% 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 +77.6% against 2015 indices. The pace of growth was the most pronounced in 2021 when imports increased by 21%. Over the period under review, imports hit record highs in 2022 and are likely to see gradual growth in the immediate term.

In value terms, medical instruments imports expanded modestly to $X in 2022. The total import value increased at an average annual rate of +3.9% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2018 when imports increased by 11%. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in the near future.

Imports by Country

The Netherlands (X tons) and Germany (X tons) represented the major importers of instruments used in medical sciences in 2022, recording approx. 16% and 15% of total imports, respectively. It was distantly followed by Italy (X tons), France (X tons), Austria (X tons), the UK (X tons), Belgium (X tons) and Slovenia (X tons), together comprising a 40% share of total imports. The following importers - Spain (X tons), Croatia (X tons), Poland (X tons), Bulgaria (X tons) and the Czech Republic (X tons) - together made up 14% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Slovenia (with a CAGR of +39.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the Netherlands ($X), Germany ($X) and Belgium ($X) appeared to be the countries with the highest levels of imports in 2022, with a combined 47% share of total imports. The UK, France, Italy, Spain, Poland, Austria, the Czech Republic, Slovenia, Bulgaria and Croatia lagged somewhat behind, together comprising a further 36%.

Bulgaria, with a CAGR of +17.1%, saw 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 Europe stood at $X per ton in 2022, approximately reflecting the previous year. In general, the import price showed a mild decline. The most prominent rate of growth was recorded in 2014 when the import price increased by 3.9% against the previous year. As a result, import price attained the peak level of $X per ton. From 2015 to 2022, the import prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Belgium ($X per ton), while Croatia ($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 UK (+6.8%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform