Finland: Syringe Market 2024

Syringe Market Size in Finland

The Finnish syringe market was finally on the rise to reach $X in 2022, after four years of decline. Overall, consumption, however, faced a deep setback. The most prominent rate of growth was recorded in 2017 with an increase of 6.9%. Syringe consumption peaked at $X in 2014; however, from 2015 to 2022, consumption failed to regain momentum.

Syringe Production in Finland

In value terms, syringe production shrank significantly to $X in 2022 estimated in export price. Over the period under review, production, however, continues to indicate significant growth. The pace of growth was the most pronounced in 2019 when the production volume increased by 248%. Over the period under review, production hit record highs at $X in 2021, and then contracted sharply in the following year.

Syringe Exports

Exports from Finland

In 2022, overseas shipments of syringes, with or without needles decreased by -32.1% to X units for the first time since 2016, thus ending a five-year rising trend. In general, exports, however, posted a resilient expansion. The most prominent rate of growth was recorded in 2021 with an increase of 180%. As a result, the exports reached the peak of X units, and then shrank markedly in the following year.

In value terms, syringe exports dropped sharply to $X in 2022. Overall, exports, however, saw a resilient expansion. The growth pace was the most rapid in 2019 when exports increased by 49%. Over the period under review, the exports attained the maximum at $X in 2021, and then fell remarkably in the following year.

Exports by Country

The UK (X units) was the main destination for syringe exports from Finland, accounting for a 78% share of total exports. Moreover, syringe exports to the UK exceeded the volume sent to the second major destination, Russia (X units), eightfold. Sweden (X units) ranked third in terms of total exports with an 8% share.

From 2012 to 2022, the average annual growth rate of volume to the UK totaled +16.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Russia (+39.3% per year) and Sweden (-4.2% per year).

In value terms, the UK ($X) remains the key foreign market for syringes, with or without needles exports from Finland, comprising 70% of total exports. The second position in the ranking was taken by the United States ($X), with a 15% share of total exports. It was followed by Russia, with a 7.5% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the UK totaled +6.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+5.7% per year) and Russia (+25.2% per year).

Export Prices by Country

In 2022, the average syringe export price amounted to $X per unit, rising by 23% against the previous year. Over the period under review, the export price, however, showed a abrupt curtailment. The growth pace was the most rapid in 2017 an increase of 25% against the previous year. Over the period under review, the average export prices attained the peak figure at $X per unit in 2013; however, from 2014 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per unit), while the average price for exports to Sweden ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Sweden (+1.3%), while the prices for the other major destinations experienced a decline.

Syringe Imports

Imports into Finland

In 2022, the amount of syringes, with or without needles imported into Finland fell sharply to X units, which is down by -21.9% compared with 2021 figures. Over the period under review, imports recorded a abrupt curtailment. The pace of growth appeared the most rapid in 2021 when imports increased by 37% against the previous year. Over the period under review, imports reached the peak figure at X units in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, syringe imports reduced dramatically to $X in 2022. In general, imports showed a abrupt slump. The pace of growth appeared the most rapid in 2021 when imports increased by 21%. Imports peaked at $X in 2014; however, from 2015 to 2022, imports failed to regain momentum.

Imports by Country

Sweden (X units), China (X units) and Germany (X units) were the main suppliers of syringe imports to Finland, with a combined 57% share of total imports. The Netherlands, the United States, Belgium, Denmark, Poland and the UK lagged somewhat behind, together comprising a further 38%.

From 2012 to 2022, the biggest increases were recorded for Poland (with a CAGR of +174.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the Netherlands ($X), China ($X) and Germany ($X) were the largest syringe suppliers to Finland, with a combined 50% share of total imports. The United States, Sweden, Poland, Denmark, Belgium and the UK lagged somewhat behind, together comprising a further 46%.

Poland, with a CAGR of +149.5%, recorded the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average syringe import price stood at $X per unit in 2022, remaining stable against the previous year. In general, import price indicated measured growth from 2012 to 2022: its price increased at an average annual rate of +4.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, syringe import price decreased by -11.8% against 2020 indices. The pace of growth was the most pronounced in 2019 when the average import price increased by 46% against the previous year. Over the period under review, average import prices hit record highs at $X per unit in 2020; however, from 2021 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the Netherlands ($X per unit), while the price for the UK ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+15.0%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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