Kuwait: Ophthalmic Instruments Market 2024

Ophthalmic Instruments Market Size in Kuwait

The Kuwaiti ophthalmic instruments market surged to $X in 2021, with an increase of 61% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption showed a temperate increase. As a result, consumption attained the peak level of $X. From 2020 to 2021, the growth of the market failed to regain momentum.

Ophthalmic Instruments Exports

Exports from Kuwait

Ophthalmic instruments exports from Kuwait skyrocketed to X kg in 2021, surging by 788% compared with 2020 figures. Overall, exports posted a significant increase. Over the period under review, the exports hit record highs at X tons in 2016; however, from 2017 to 2021, the exports stood at a somewhat lower figure.

In value terms, ophthalmic instruments exports skyrocketed to $X in 2021. In general, exports recorded a prominent expansion. Over the period under review, the exports hit record highs at $X in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Italy (X kg), Bahrain (X kg) and Switzerland (X kg) were the main destinations of ophthalmic instruments exports from Kuwait, with a combined 59% share of total exports.

From 2012 to 2021, the biggest increases were recorded for Italy (with a CAGR of +54.7%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Bahrain ($X) remains the key foreign market for ophthalmic instruments and appliances exports from Kuwait, comprising 39% of total exports. The second position in the ranking was held by Italy ($X), with a 13% share of total exports. It was followed by Switzerland, with a 9.1% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Bahrain stood at +11.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Italy (+35.6% per year) and Switzerland (+21.6% per year).

Export Prices by Country

The average ophthalmic instruments export price stood at $X per ton in 2021, with a decrease of -46.1% against the previous year. In general, the export price continues to indicate a abrupt downturn. The pace of growth appeared the most rapid in 2017 an increase of 165% against the previous year. The export price peaked at $X per ton in 2019; however, from 2020 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major overseas markets. In 2021, the country with the highest price was Oman ($X per ton), while the average price for exports to the United Arab Emirates ($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 Oman (+40.1%), while the prices for the other major destinations experienced more modest paces of growth.

Ophthalmic Instruments Imports

Imports into Kuwait

In 2021, imports of ophthalmic instruments and appliances into Kuwait soared to X tons, growing by 77% compared with the year before. Overall, imports recorded a buoyant expansion. Imports peaked at X tons in 2017; however, from 2018 to 2021, imports remained at a lower figure.

In value terms, ophthalmic instruments imports skyrocketed to $X in 2021. Over the period under review, total imports indicated a pronounced expansion from 2012 to 2021: its value increased at an average annual rate of +3.1% 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 -28.4% against 2019 indices. The growth pace was the most rapid in 2019 when imports increased by 63% against the previous year. As a result, imports reached the peak of $X. From 2020 to 2021, the growth of imports remained at a lower figure.

Imports by Country

Germany (X tons), Italy (X tons) and the United States (X tons) were the main suppliers of ophthalmic instruments imports to Kuwait, with a combined 28% share of total imports. The Netherlands, South Korea, Singapore, France, Belgium, the UK, China, Japan and Switzerland lagged somewhat behind, together accounting for a further 21%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Singapore (with a CAGR of +75.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X) constituted the largest supplier of ophthalmic instruments and appliances to Kuwait, comprising 18% of total imports. The second position in the ranking was taken by the United States ($X), with an 8.6% share of total imports. It was followed by the Netherlands, with a 6% share.

From 2012 to 2021, the average annual growth rate of value from Germany amounted to -2.0%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-11.7% per year) and the Netherlands (+12.3% per year).

Import Prices by Country

In 2021, the average ophthalmic instruments import price amounted to $X per ton, which is down by -10.2% against the previous year. Over the period under review, the import price saw a mild decline. The pace of growth was the most pronounced in 2018 an increase of 17%. The import price peaked at $X per ton in 2019; however, from 2020 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was the UK ($X per ton), while the price for China ($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 UK (+17.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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