Hungary: Syringe Market 2024

Syringe Market Size in Hungary

In 2022, the Hungarian syringe market was finally on the rise to reach $X after two years of decline. Over the period under review, consumption enjoyed prominent growth. As a result, consumption reached the peak level of $X. From 2020 to 2022, the growth of the market failed to regain momentum.

Syringe Production in Hungary

In value terms, syringe production rose rapidly to $X in 2022 estimated in export price. Over the period under review, production continues to indicate a buoyant increase. The most prominent rate of growth was recorded in 2016 when the production volume increased by 121% against the previous year. Syringe production peaked at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Syringe Exports

Exports from Hungary

In 2022, after two years of growth, there was significant decline in overseas shipments of syringes, with or without needles, when their volume decreased by -17.8% to X units. Overall, exports, however, enjoyed a significant expansion. The pace of growth appeared the most rapid in 2018 when exports increased by 326%. The exports peaked at X units in 2021, and then reduced markedly in the following year.

In value terms, syringe exports stood at $X in 2022. In general, exports, however, showed a significant increase. The most prominent rate of growth was recorded in 2013 when exports increased by 277%. Over the period under review, the exports attained the peak figure in 2022 and are likely to see steady growth in years to come.

Exports by Country

Germany (X units) was the main destination for syringe exports from Hungary, with a 67% share of total exports. Moreover, syringe exports to Germany exceeded the volume sent to the second major destination, France (X units), fourfold. The third position in this ranking was held by Singapore (X units), with an 8.7% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Germany totaled +34.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: France (+15.6% per year) and Singapore (+410.3% per year).

In value terms, Germany ($X) remains the key foreign market for syringes, with or without needles exports from Hungary, comprising 56% of total exports. The second position in the ranking was taken by France ($X), with a 22% share of total exports. It was followed by Singapore, with a 14% share.

From 2012 to 2022, the average annual growth rate of value to Germany amounted to +55.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: France (+12.7% per year) and Singapore (+449.5% per year).

Export Prices by Country

The average syringe export price stood at $X per unit in 2022, growing by 22% against the previous year. Over the period under review, export price indicated a mild increase from 2012 to 2022: its price increased at an average annual rate of +1.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, syringe export price increased by +20.0% against 2018 indices. The growth pace was the most rapid in 2013 an increase of 66% against the previous year. The export price peaked at $X per unit in 2017; however, from 2018 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Ireland ($X per unit), while the average price for exports to the Netherlands ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Germany (+16.2%), while the prices for the other major destinations experienced more modest paces of growth.

Syringe Imports

Imports into Hungary

In 2022, supplies from abroad of syringes, with or without needles was finally on the rise to reach X units for the first time since 2019, thus ending a two-year declining trend. Overall, imports saw resilient growth. The most prominent rate of growth was recorded in 2015 with an increase of 50%. Over the period under review, imports reached the maximum at X units in 2019; however, from 2020 to 2022, imports remained at a lower figure.

In value terms, syringe imports expanded remarkably to $X in 2022. Over the period under review, imports continue to indicate resilient growth. The growth pace was the most rapid in 2019 with an increase of 49%. Over the period under review, imports attained the maximum in 2022 and are likely to see steady growth in the immediate term.

Imports by Country

The United States (X units), France (X units) and Germany (X units) were the main suppliers of syringe imports to Hungary, together comprising 80% of total imports.

From 2012 to 2022, the biggest increases were recorded for the United States (with a CAGR of +59.2%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest syringe suppliers to Hungary were France ($X), the United States ($X) and Switzerland ($X), together comprising 65% of total imports.

Switzerland, with a CAGR of +65.9%, 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

The average syringe import price stood at $X per unit in 2022, growing by 6.4% against the previous year. Over the period under review, the import price posted a measured increase. The most prominent rate of growth was recorded in 2021 when the average import price increased by 57% against the previous year. Over the period under review, average import prices hit record highs in 2022 and is likely to see steady growth in the near future.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Switzerland ($X per unit), while the price for Slovakia (less than $X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (+21.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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