Greece: Diagnostic Equipment Market 2025

Diagnostic Equipment Market Size in Greece

In 2021, the Greek diagnostic equipment market increased by 11% to $X, rising for the second year in a row after two years of decline. In general, consumption recorded a strong expansion. Over the period under review, the market hit record highs in 2021 and is likely to see steady growth in the immediate term.

Diagnostic Equipment Exports

Exports from Greece

In 2021, shipments abroad of electro-diagnostic apparatus, and ultra-violet or infra-red ray apparatus decreased by -29.4% to X units for the first time since 2018, thus ending a two-year rising trend. In general, total exports indicated a moderate increase from 2012 to 2021: its volume increased at an average annual rate of +4.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2013 when exports increased by 78% against the previous year. Over the period under review, the exports hit record highs at X units in 2017; however, from 2018 to 2021, the exports stood at a somewhat lower figure.

In value terms, diagnostic equipment exports contracted markedly to $X in 2021. Overall, exports showed a slight contraction. The pace of growth appeared the most rapid in 2019 when exports increased by 38%. The exports peaked at $X in 2020, and then dropped significantly in the following year.

Exports by Country

Cyprus (X units), India (X units) and China (X units) were the main destinations of diagnostic equipment exports from Greece.

From 2012 to 2021, the biggest increases were recorded for Uzbekistan (with a CAGR of +28,313.5%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Cyprus ($X), Russia ($X) and Italy ($X) were the largest markets for diagnostic equipment exported from Greece worldwide, with a combined 31% share of total exports. China, the Netherlands, the United States, India, Bulgaria, Germany, Albania, Uzbekistan and Kosovo lagged somewhat behind, together accounting for a further 28%.

Among the main countries of destination, Uzbekistan, with a CAGR of +4,509.9%, 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 average diagnostic equipment export price amounted to $X per unit, jumping by 16% against the previous year. Over the period under review, the export price, however, saw a deep setback. The most prominent rate of growth was recorded in 2015 when the average export price increased by 39%. The export price peaked at $X per unit in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was Italy ($X per unit), while the average price for exports to Kosovo ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Germany (+6.2%), while the prices for the other major destinations experienced a decline.

Diagnostic Equipment Imports

Imports into Greece

In 2021, overseas purchases of electro-diagnostic apparatus, and ultra-violet or infra-red ray apparatus increased by 7.3% to X units, rising for the second year in a row after two years of decline. In general, imports enjoyed a notable increase. The growth pace was the most rapid in 2017 when imports increased by 83% against the previous year. As a result, imports reached the peak of X units. From 2018 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, diagnostic equipment imports rose sharply to $X in 2021. Over the period under review, imports continue to indicate resilient growth. The most prominent rate of growth was recorded in 2016 with an increase of 32%. Imports peaked in 2021 and are expected to retain growth in the immediate term.

Imports by Country

In 2021, Germany (X units) was the main diagnostic equipment supplier to Greece, accounting for a 474% share of total imports. Moreover, diagnostic equipment imports from Germany exceeded the figures recorded by the second-largest supplier, Italy (X units), fourfold. The third position in this ranking was taken by China (X units), with a 127% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Germany stood at +26.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+6.3% per year) and China (+15.5% per year).

In value terms, Germany ($X) constituted the largest supplier of electro-diagnostic apparatus, and ultra-violet or infra-red ray apparatus to Greece, comprising 40% of total imports. The second position in the ranking was held by the Netherlands ($X), with a 13% share of total imports. It was followed by China, with an 8.6% share.

From 2012 to 2021, the average annual growth rate of value from Germany stood at +16.3%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (+3.6% per year) and China (+3.9% per year).

Import Prices by Country

The average diagnostic equipment import price stood at $X per unit in 2021, with a decrease of -1.6% against the previous year. Over the period under review, import price indicated a temperate increase from 2012 to 2021: its price increased at an average annual rate of +4.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, diagnostic equipment import price decreased by -3.1% against 2019 indices. The pace of growth was the most pronounced in 2013 when the average import price increased by 69%. As a result, import price reached the peak level of $X per unit. From 2014 to 2021, the average import prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was France ($X per unit), while the price for Spain ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Belgium (+17.1%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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