Hungary: Ophthalmic Instruments Market 2024

Ophthalmic Instruments Market Size in Hungary

The Hungarian ophthalmic instruments market was finally on the rise to reach $X in 2021, after two years of decline. Overall, consumption saw a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2019 to 2021, the growth of the market remained at a lower figure.

Ophthalmic Instruments Exports

Exports from Hungary

In 2021, exports of ophthalmic instruments and appliances from Hungary skyrocketed to X tons, jumping by 27% compared with the year before. In general, exports saw prominent growth. The pace of growth was the most pronounced in 2014 with an increase of 119% against the previous year. Over the period under review, the exports hit record highs in 2021 and are expected to retain growth in the immediate term.

In value terms, ophthalmic instruments exports expanded notably to $X in 2021. Over the period under review, exports recorded a resilient expansion. The most prominent rate of growth was recorded in 2019 when exports increased by 122% against the previous year. As a result, the exports attained the peak of $X. From 2020 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

Romania (X tons), Algeria (X tons) and Thailand (X kg) were the main destinations of ophthalmic instruments exports from Hungary, with a combined 62% share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Algeria (with a CAGR of +196.3%), while the other leaders experienced more modest paces of growth.

In value terms, Romania ($X) remains the key foreign market for ophthalmic instruments and appliances exports from Hungary, comprising 35% of total exports. The second position in the ranking was taken by Croatia ($X), with a 13% share of total exports. It was followed by Algeria, with a 9.8% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Romania totaled +28.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Croatia (+35.1% per year) and Algeria (+179.4% per year).

Export Prices by Country

In 2021, the average ophthalmic instruments export price amounted to $X per ton, dropping by -16.5% against the previous year. Overall, the export price, however, saw tangible growth. The growth pace was the most rapid in 2013 when the average export price increased by 168% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2014 to 2021, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major overseas markets. In 2021, the country with the highest price was Switzerland ($X per ton), while the average price for exports to Ukraine ($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 North Macedonia (+36.5%), while the prices for the other major destinations experienced more modest paces of growth.

Ophthalmic Instruments Imports

Imports into Hungary

In 2021, supplies from abroad of ophthalmic instruments and appliances increased by 6.8% to X tons for the first time since 2018, thus ending a two-year declining trend. Overall, imports, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2018 with an increase of 41% against the previous year. As a result, imports reached the peak of X tons. From 2019 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, ophthalmic instruments imports rose remarkably to $X in 2021. In general, total imports indicated noticeable growth from 2012 to 2021: its value increased at an average annual rate of +4.4% 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 decreased by -8.6% against 2019 indices. The pace of growth appeared the most rapid in 2018 when imports increased by 28%. Over the period under review, imports attained the maximum at $X in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Belgium (X tons), France (X tons) and Italy (X tons) were the main suppliers of ophthalmic instruments imports to Hungary, with a combined 55% share of total imports. The United States, Germany, the Netherlands, Switzerland, China, South Korea and the Czech Republic lagged somewhat behind, together comprising a further 37%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Switzerland (with a CAGR of +24.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), France ($X) and the Netherlands ($X) appeared to be the largest ophthalmic instruments suppliers to Hungary, with a combined 51% share of total imports. These countries were followed by the United States, Switzerland, Belgium, South Korea, Italy, China and the Czech Republic, which together accounted for a further 34%.

Switzerland, with a CAGR of +21.8%, saw 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

In 2021, the average ophthalmic instruments import price amounted to $X per ton, surging by 3.6% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +4.9%. The most prominent rate of growth was recorded in 2019 when the average import price increased by 31% against the previous year. Over the period under review, average import prices attained the maximum in 2021 and is expected to retain growth in the immediate term.

Prices varied noticeably country of origin: the country with the highest price was Germany ($X per ton), while the price for Belgium ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Czech Republic (+17.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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