GCC: Ophthalmic Instruments Market 2024

Ophthalmic Instruments Market Size in GCC

The GCC ophthalmic instruments market skyrocketed to $X in 2021, picking up by 35% against the previous year. The market value increased at an average annual rate of +4.6% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market hit record highs in 2021 and is likely to see steady growth in years to come.

Ophthalmic Instruments Production in GCC

In value terms, ophthalmic instruments production fell to $X in 2021 estimated in export price. Overall, production showed a mild contraction. The most prominent rate of growth was recorded in 2016 when the production volume increased by 853%. The level of production peaked at $X in 2017; however, from 2018 to 2021, production stood at a somewhat lower figure.

Ophthalmic Instruments Exports

Exports in GCC

In 2021, after three years of decline, there was significant growth in overseas shipments of ophthalmic instruments and appliances, when their volume increased by 8.7% to X tons. Overall, exports continue to indicate perceptible growth. The most prominent rate of growth was recorded in 2015 with an increase of 331%. The volume of export peaked at X tons in 2017; however, from 2018 to 2021, the exports stood at a somewhat lower figure.

In value terms, ophthalmic instruments exports reduced to $X in 2021. Over the period under review, exports, however, continue to indicate a perceptible contraction. The growth pace was the most rapid in 2015 with an increase of 676% against the previous year. The level of export peaked at $X in 2017; however, from 2018 to 2021, the exports failed to regain momentum.

Exports by Country

The United Arab Emirates represented the major exporter of ophthalmic instruments and appliances in GCC, with the volume of exports amounting to X tons, which was approx. 65% of total exports in 2021. Saudi Arabia (X tons) held the second position in the ranking, distantly followed by Bahrain (X tons). All these countries together took approx. 31% share of total exports. Kuwait (X kg) held a little share of total exports.

From 2012 to 2021, average annual rates of growth with regard to ophthalmic instruments exports from the United Arab Emirates stood at -1.0%. At the same time, Kuwait (+24.5%), Saudi Arabia (+21.4%) and Bahrain (+14.6%) displayed positive paces of growth. Moreover, Kuwait emerged as the fastest-growing exporter exported in GCC, with a CAGR of +24.5% from 2012-2021. While the share of Saudi Arabia (+19 p.p.), Bahrain (+3.7 p.p.) and Kuwait (+3 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of the United Arab Emirates (-26 p.p.) displayed negative dynamics.

In value terms, Saudi Arabia ($X), the United Arab Emirates ($X) and Bahrain ($X) were the countries with the highest levels of exports in 2021, with a combined 97% share of total exports.

Among the main exporting countries, Saudi Arabia, with a CAGR of +15.7%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the export price in GCC amounted to $X per ton, which is down by -16.9% against the previous year. Over the period under review, the export price continues to indicate a perceptible slump. The pace of growth appeared the most rapid in 2020 an increase of 84% against the previous year. The level of export peaked at $X per ton in 2015; however, from 2016 to 2021, the export prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Saudi Arabia (-4.7%), while the other leaders experienced a decline in the export price figures.

Ophthalmic Instruments Imports

Imports in GCC

In 2021, imports of ophthalmic instruments and appliances in GCC surged to X tons, jumping by 47% compared with the previous year. Total imports indicated a pronounced expansion from 2012 to 2021: its volume increased at an average annual rate of +4.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +100.4% against 2016 indices. The pace of growth was the most pronounced in 2017 when imports increased by 48% against the previous year. The volume of import peaked at X tons in 2014; however, from 2015 to 2021, imports stood at a somewhat lower figure.

In value terms, ophthalmic instruments imports soared to $X in 2021. Total imports indicated strong growth from 2012 to 2021: its value increased at an average annual rate of +5.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +86.8% against 2016 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Saudi Arabia (X tons) and the United Arab Emirates (X tons) prevails in imports structure, together constituting 86% of total imports. It was distantly followed by Kuwait (X tons), constituting a 5% share of total imports. The following importers - Qatar (X tons), Oman (X tons) and Bahrain (X tons) - together made up 9.1% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Bahrain (with a CAGR of +12.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Saudi Arabia ($X), the United Arab Emirates ($X) and Kuwait ($X) constituted the countries with the highest levels of imports in 2021, together comprising 89% of total imports. Oman, Qatar and Bahrain lagged somewhat behind, together accounting for a further 11%.

Among the main importing countries, Bahrain, with a CAGR of +14.4%, recorded 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

The import price in GCC stood at $X per ton in 2021, with an increase of 1.9% against the previous year. Overall, the import price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 when the import price increased by 14%. The level of import peaked at $X per ton in 2016; however, from 2017 to 2021, import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Qatar (+4.1%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform