India: Ophthalmic Instruments Market 2024

Ophthalmic Instruments Market Size in India

In 2021, after four years of growth, there was decline in the Indian ophthalmic instruments market, when its value decreased by -3.1% to $X. Overall, the total consumption indicated a buoyant increase from 2012 to 2021: its value increased at an average annual rate of +7.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +87.2% against 2012 indices. Ophthalmic instruments consumption peaked at $X in 2020, and then contracted modestly in the following year.

Ophthalmic Instruments Production in India

In value terms, ophthalmic instruments production reduced to $X in 2021 estimated in export price. Over the period under review, production, however, recorded a resilient increase. The pace of growth was the most pronounced in 2017 with an increase of 31%. Ophthalmic instruments production peaked at $X in 2020, and then shrank in the following year.

Ophthalmic Instruments Exports

Exports from India

Ophthalmic instruments exports from India skyrocketed to X tons in 2021, growing by 36% compared with the previous year's figure. In general, total exports indicated buoyant growth from 2012 to 2021: its volume increased at an average annual rate of +7.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2014 with an increase of 43%. Over the period under review, the exports reached the maximum in 2021 and are likely to continue growth in the immediate term.

In value terms, ophthalmic instruments exports surged to $X in 2021. Over the period under review, exports saw a strong increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

The United States (X tons), the United Arab Emirates (X tons) and Switzerland (X tons) were the main destinations of ophthalmic instruments exports from India, with a combined 25% share of total exports. The UK, Germany, Rwanda, Nigeria, Israel, Brazil, Japan, France, Bangladesh and Kenya lagged somewhat behind, together comprising a further 30%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Israel (with a CAGR of +87.8%), while the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) remains the key foreign market for ophthalmic instruments and appliances exports from India, comprising 14% of total exports. The second position in the ranking was held by Switzerland ($X), with a 6.1% share of total exports. It was followed by the UK, with a 5.9% share.

From 2012 to 2021, the average annual growth rate of value to the United States amounted to +15.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Switzerland (+28.2% per year) and the UK (+6.5% per year).

Export Prices by Country

The average ophthalmic instruments export price stood at $X per ton in 2021, standing approx. at the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +2.7%. The growth pace was the most rapid in 2015 an increase of 26%. The export price peaked at $X per ton in 2018; however, from 2019 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably country of destination: the country with the highest price was Israel ($X per ton), while the average price for exports to the United Arab Emirates ($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 the United Arab Emirates (+8.5%), while the prices for the other major destinations experienced more modest paces of growth.

Ophthalmic Instruments Imports

Imports into India

In 2021, the amount of ophthalmic instruments and appliances imported into India soared to X tons, surging by 68% on the year before. Over the period under review, imports recorded a relatively flat trend pattern. Imports peaked at X tons in 2019; however, from 2020 to 2021, imports remained at a lower figure.

In value terms, ophthalmic instruments imports surged to $X in 2021. In general, imports showed a relatively flat trend pattern. Imports peaked at $X in 2018; however, from 2019 to 2021, imports failed to regain momentum.

Imports by Country

The United States (X tons), Switzerland (X tons) and Germany (X tons) were the main suppliers of ophthalmic instruments imports to India, with a combined 50% share of total imports. Japan, China, Hong Kong SAR, Singapore, Israel, France, Italy, South Korea, Ireland and the UK lagged somewhat behind, together comprising a further 45%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Ireland (with a CAGR of +42.5%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), Switzerland ($X) and Germany ($X) appeared to be the largest ophthalmic instruments suppliers to India, together accounting for 50% of total imports. Japan, China, Hong Kong SAR, Singapore, Israel, France, Italy, South Korea, Ireland and the UK lagged somewhat behind, together accounting for a further 45%.

In terms of the main suppliers, Ireland, with a CAGR of +43.0%, saw the highest rates of growth with regard to the value of imports, 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, approximately equating the previous year. In general, the import price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when the average import price increased by 9.9% against the previous year. Over the period under review, average import prices reached the maximum in 2021 and is expected to retain growth in years to come.

Average prices varied noticeably amongst the major supplying countries. In 2021, the countries with the highest prices were Ireland ($X per ton) and the UK ($X per ton), while the price for Switzerland ($X per ton) and Japan ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the UK (+0.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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