Ireland: Medical Instruments Market 2024

Medical Instruments Market Size in Ireland

The Irish medical instruments market surged to $X in 2022, picking up by 32% against the previous year. Overall, consumption saw buoyant growth. As a result, consumption reached the peak level of $X. From 2021 to 2022, the growth of the market remained at a lower figure.

Medical Instruments Production in Ireland

In value terms, medical instruments production soared to $X in 2022 estimated in export price. Overall, production saw a buoyant increase. The growth pace was the most rapid in 2013 when the production volume increased by 180% against the previous year. Over the period under review, production hit record highs at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Medical Instruments Exports

Exports from Ireland

In 2022, shipments abroad of instruments used in medical sciences increased by 4.1% to X tons, rising for the second consecutive year after three years of decline. Overall, exports, however, showed a slight curtailment. The most prominent rate of growth was recorded in 2017 with an increase of 91% against the previous year. As a result, the exports reached the peak of X tons. From 2018 to 2022, the growth of the exports failed to regain momentum.

In value terms, medical instruments exports expanded notably to $X in 2022. The total export value increased at an average annual rate of +3.1% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2021 with an increase of 45%. Over the period under review, the exports hit record highs in 2022 and are likely to see gradual growth in the immediate term.

Exports by Country

The United States (X tons), Belgium (X tons) and the UK (X tons) were the main destinations of medical instruments exports from Ireland, together accounting for 65% of total exports. The Netherlands, Switzerland, Germany and Italy lagged somewhat behind, together comprising a further 25%.

From 2012 to 2022, the biggest increases were recorded for Switzerland (with a CAGR of +44.3%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) remains the key foreign market for instruments used in medical sciences exports from Ireland, comprising 65% of total exports. The second position in the ranking was held by the Netherlands ($X), with a 10% share of total exports. It was followed by the UK, with an 8.4% share.

From 2012 to 2022, the average annual growth rate of value to the United States totaled +5.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (+14.8% per year) and the UK (+16.4% per year).

Export Prices by Country

The average medical instruments export price stood at $X per ton in 2022, increasing by 3.4% against the previous year. Over the period under review, export price indicated a perceptible increase from 2012 to 2022: its price increased at an average annual rate of +4.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, medical instruments export price decreased by -2.9% against 2019 indices. The pace of growth was the most pronounced in 2018 an increase of 74% against the previous year. Over the period under review, the average export prices reached the maximum at $X per ton in 2019; however, from 2020 to 2022, the export prices stood at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the Netherlands (+19.3%), while the prices for the other major destinations experienced more modest paces of growth.

Medical Instruments Imports

Imports into Ireland

For the fourth consecutive year, Ireland recorded decline in supplies from abroad of instruments used in medical sciences, which decreased by -3.9% to X tons in 2022. Overall, imports showed a abrupt slump. The growth pace was the most rapid in 2018 when imports increased by 63%. As a result, imports attained the peak of X tons. From 2019 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, medical instruments imports expanded notably to $X in 2022. In general, total imports indicated a resilient increase from 2012 to 2022: its value increased at an average annual rate of +7.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +20.1% against 2020 indices. The growth pace was the most rapid in 2013 when imports increased by 50% against the previous year. Over the period under review, imports attained the peak figure at $X in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

Imports by Country

The UK (X tons), the United States (X tons) and Belgium (X tons) were the main suppliers of medical instruments imports to Ireland, with a combined 62% share of total imports. The Netherlands, France, Germany, China and Sweden lagged somewhat behind, together accounting for a further 26%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by France (with a CAGR of +7.5%), while imports for the other leaders experienced a decline.

In value terms, the United States ($X) constituted the largest supplier of instruments used in medical sciences to Ireland, comprising 37% of total imports. The second position in the ranking was taken by the Netherlands ($X), with a 12% share of total imports. It was followed by the UK, with a 10% share.

From 2012 to 2022, the average annual growth rate of value from the United States totaled +11.1%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (+5.9% per year) and the UK (+1.0% per year).

Import Prices by Country

The average medical instruments import price stood at $X per ton in 2022, increasing by 20% against the previous year. Over the period under review, the import price showed strong growth. The most prominent rate of growth was recorded in 2013 when the average import price increased by 158%. Over the period under review, average import prices hit record highs at $X per ton in 2014; however, from 2015 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the United States ($X per ton), while the price for Sweden ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Belgium (+26.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :