Hong Kong SAR, China: Syringe Market 2024

Syringe Market Size in Hong Kong SAR, China

The Hong Kong syringe market contracted markedly to $X in 2022, shrinking by -25.9% against the previous year. Over the period under review, consumption showed a noticeable decline. As a result, consumption attained the peak level of $X. From 2016 to 2022, the growth of the market remained at a somewhat lower figure.

Syringe Production in Hong Kong SAR, China

In value terms, syringe production soared to $X in 2022 estimated in export price. In general, production saw a modest expansion. The most prominent rate of growth was recorded in 2015 with an increase of 1,238%. Syringe production peaked at $X in 2016; however, from 2017 to 2022, production remained at a lower figure.

Syringe Exports

Exports from Hong Kong SAR, China

In 2022, exports of syringes, with or without needles from Hong Kong SAR soared to X units, rising by 22% against 2021 figures. In general, exports posted a resilient increase. The most prominent rate of growth was recorded in 2016 with an increase of 3,106% against the previous year. As a result, the exports attained the peak of X units. From 2017 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, syringe exports declined notably to $X in 2022. Overall, exports, however, continue to indicate a pronounced decline. The growth pace was the most rapid in 2016 with an increase of 4,312% against the previous year. As a result, the exports attained the peak of $X. From 2017 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

India (X units), the Netherlands (X units) and China (X units) were the main destinations of syringe exports from Hong Kong SAR, together accounting for 30% of total exports. Russia, the United States, Macao SAR, Indonesia, Australia, Israel, Mexico, Thailand, Morocco and Turkey lagged somewhat behind, together comprising a further 39%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Morocco (with a CAGR of +427.2%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for syringe exported from Hong Kong SAR were India ($X), the Netherlands ($X) and China ($X), together accounting for 29% of total exports.

The Netherlands, with a CAGR of +337.5%, recorded the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average syringe export price stood at $X per unit in 2022, shrinking by -65.6% against the previous year. Overall, the export price recorded a abrupt setback. The pace of growth appeared the most rapid in 2018 when the average export price increased by 89% against the previous year. As a result, the export price reached the peak level of $X per unit. From 2019 to 2022, the average export prices remained at a somewhat lower figure.

Average prices varied noticeably for the major export markets. In 2022, amid the top suppliers, the countries with the highest prices were Indonesia ($X per unit) and Russia ($X per unit), while the average price for exports to Australia ($X per unit) and Macao SAR ($X per unit) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Israel (-10.5%), while the prices for the other major destinations experienced a decline.

Syringe Imports

Imports into Hong Kong SAR, China

Syringe imports into Hong Kong SAR reduced modestly to X units in 2022, leveling off at 2021. Over the period under review, imports, however, enjoyed a buoyant increase. The growth pace was the most rapid in 2015 with an increase of 74% against the previous year. Imports peaked at X units in 2017; however, from 2018 to 2022, imports stood at a somewhat lower figure.

In value terms, syringe imports reduced sharply to $X in 2022. Overall, imports recorded a pronounced shrinkage. The most prominent rate of growth was recorded in 2013 with an increase of 87% against the previous year. Over the period under review, imports reached the maximum at $X in 2016; however, from 2017 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, China (X units) constituted the largest syringe supplier to Hong Kong SAR, with a 59% share of total imports. Moreover, syringe imports from China exceeded the figures recorded by the second-largest supplier, Singapore (X units), fivefold. The Philippines (X units) ranked third in terms of total imports with a 9.3% share.

From 2012 to 2022, the average annual growth rate of volume from China stood at +16.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Singapore (+28.2% per year) and the Philippines (+24.3% per year).

In value terms, China ($X) constituted the largest supplier of syringes, with or without needles to Hong Kong SAR, comprising 59% of total imports. The second position in the ranking was held by Singapore ($X), with a 12% share of total imports. It was followed by the Philippines, with a 9.3% share.

From 2012 to 2022, the average annual growth rate of value from China stood at +5.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Singapore (+16.0% per year) and the Philippines (+12.4% per year).

Import Prices by Country

In 2022, the average syringe import price amounted to $X per unit, dropping by -46.3% against the previous year. In general, the import price continues to indicate a abrupt decline. The most prominent rate of growth was recorded in 2013 an increase of 53%. The import price peaked at $X per unit in 2014; however, from 2015 to 2022, import prices failed to regain momentum.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were the Philippines ($X per unit) and the United States ($X per unit), while the price for Singapore ($X per unit) and Thailand ($X per unit) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Philippines (-9.5%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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