Greece: Ophthalmic Instruments Market 2024

Ophthalmic Instruments Market Size in Greece

The Greek ophthalmic instruments market rose rapidly to $X in 2021, increasing by 7.7% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption, however, continues to indicate slight growth. Ophthalmic instruments consumption peaked at $X in 2014; however, from 2015 to 2021, consumption stood at a somewhat lower figure.

Ophthalmic Instruments Exports

Exports from Greece

For the fourth year in a row, Greece recorded growth in shipments abroad of ophthalmic instruments and appliances, which increased by 3.7% to X tons in 2021. Over the period under review, exports showed significant growth. The most prominent rate of growth was recorded in 2014 with an increase of 202% against the previous year. The exports peaked in 2021 and are likely to continue growth in the immediate term.

In value terms, ophthalmic instruments exports skyrocketed to $X in 2021. In general, exports continue to indicate a significant expansion. The pace of growth was the most pronounced in 2014 when exports increased by 125% against the previous year. The exports peaked in 2021 and are expected to retain growth in the near future.

Exports by Country

Chile (X tons) was the main destination for ophthalmic instruments exports from Greece, accounting for a 24% share of total exports. Moreover, ophthalmic instruments exports to Chile exceeded the volume sent to the second major destination, Cyprus (X tons), twofold. The third position in this ranking was held by Turkey (X tons), with an 8.3% share.

From 2012 to 2021, the average annual growth rate of volume to Chile amounted to +154.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Cyprus (+27.2% per year) and Turkey (+58.4% per year).

In value terms, Cyprus ($X) remains the key foreign market for ophthalmic instruments and appliances exports from Greece, comprising 21% of total exports. The second position in the ranking was held by Germany ($X), with a 9.2% share of total exports. It was followed by Chile, with a 6.8% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Cyprus stood at +24.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+32.2% per year) and Chile (+113.3% per year).

Export Prices by Country

In 2021, the average ophthalmic instruments export price amounted to $X per ton, growing by 12% against the previous year. In general, the export price, however, recorded a abrupt downturn. The pace of growth appeared the most rapid in 2017 when the average export price increased by 73% against the previous year. The export price peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably country of destination: the country with the highest price was Germany ($X per ton), while the average price for exports to Chile ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Russia (+13.2%), while the prices for the other major destinations experienced mixed trend patterns.

Ophthalmic Instruments Imports

Imports into Greece

In 2021, overseas purchases of ophthalmic instruments and appliances decreased by -7.9% to X tons, falling for the second year in a row after three years of growth. The total import volume increased at an average annual rate of +2.8% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2019 with an increase of 50% against the previous year. As a result, imports reached the peak of X tons. From 2020 to 2021, the growth of imports failed to regain momentum.

In value terms, ophthalmic instruments imports surged to $X in 2021. The total import value increased at an average annual rate of +3.1% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2014 with an increase of 25% against the previous year. Over the period under review, imports hit record highs in 2021 and are expected to retain growth in the immediate term.

Imports by Country

Belgium (X tons), Germany (X tons) and the Netherlands (X tons) were the main suppliers of ophthalmic instruments imports to Greece, with a combined 58% share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the Netherlands (with a CAGR of +17.3%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), the Netherlands ($X) and the United States ($X) constituted the largest ophthalmic instruments suppliers to Greece, together accounting for 47% of total imports. Belgium, France, China, South Korea, Japan, Italy, Turkey and Denmark lagged somewhat behind, together accounting for a further 38%.

China, with a CAGR of +22.5%, recorded the highest rates of growth with regard to the value of imports, in terms of 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 ophthalmic instruments import price stood at $X per ton in 2021, surging by 28% against the previous year. Overall, the import price recorded a relatively flat trend pattern. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+16.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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