Luxembourg: Medical Instruments Market 2024

Medical Instruments Market Size in Luxembourg

The Luxembourg medical instruments market skyrocketed to $X in 2022, increasing by 172% 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). Overall, consumption posted a buoyant expansion. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Medical Instruments Exports

Exports from Luxembourg

In 2022, the amount of instruments used in medical sciences exported from Luxembourg soared to X tons, picking up by 209% against 2021. In general, exports saw significant growth. The most prominent rate of growth was recorded in 2018 with an increase of 1,008% against the previous year. The exports peaked in 2022 and are likely to see gradual growth in the immediate term.

In value terms, medical instruments exports soared to $X in 2022. Overall, exports recorded a significant increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

The Netherlands (X tons), the United States (X tons) and Germany (X tons) were the main destinations of medical instruments exports from Luxembourg, with a combined 77% share of total exports. Belgium, South Korea, Austria and France lagged somewhat behind, together comprising a further 15%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Austria (with a CAGR of +212.5%), while the other leaders experienced more modest paces of growth.

In value terms, the Netherlands ($X), the United States ($X) and Germany ($X) appeared to be the largest markets for medical instruments exported from Luxembourg worldwide, together comprising 72% of total exports. Belgium, Austria, South Korea and France lagged somewhat behind, together comprising a further 21%.

Austria, with a CAGR of +161.9%, recorded the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average medical instruments export price stood at $X per ton in 2022, waning by -31.3% against the previous year. In general, the export price recorded a deep contraction. The most prominent rate of growth was recorded in 2019 an increase of 377% against the previous year. Over the period under review, the average export prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Belgium ($X per ton), while the average price for exports to South Korea ($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 Oman (+42.5%), while the prices for the other major destinations experienced a decline.

Medical Instruments Imports

Imports into Luxembourg

Medical instruments imports into Luxembourg surged to X tons in 2022, increasing by 255% compared with the previous year's figure. Over the period under review, imports recorded a prominent expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, medical instruments imports soared to $X in 2022. Overall, total imports indicated a buoyant increase from 2012 to 2022: its value increased at an average annual rate of +6.4% 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 +121.7% against 2016 indices. The most prominent rate of growth was recorded in 2017 with an increase of 36%. Over the period under review, imports attained the peak figure in 2022 and are likely to continue growth in years to come.

Imports by Country

In 2022, Belgium (X tons) constituted the largest medical instruments supplier to Luxembourg, with a 60% share of total imports. Moreover, medical instruments imports from Belgium exceeded the figures recorded by the second-largest supplier, Germany (X tons), fivefold. The third position in this ranking was taken by Mexico (X tons), with a 7.1% share.

From 2012 to 2022, the average annual growth rate of volume from Belgium stood at +20.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+0.8% per year) and Mexico (+47.1% per year).

In value terms, Belgium ($X) constituted the largest supplier of instruments used in medical sciences to Luxembourg, comprising 41% of total imports. The second position in the ranking was held by Mexico ($X), with a 14% share of total imports. It was followed by Germany, with a 13% share.

From 2012 to 2022, the average annual growth rate of value from Belgium stood at +5.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Mexico (+23.0% per year) and Germany (-2.1% per year).

Import Prices by Country

In 2022, the average medical instruments import price amounted to $X per ton, with a decrease of -62.8% against the previous year. Over the period under review, the import price continues to indicate a deep reduction. The pace of growth appeared the most rapid in 2014 an increase of 80% against the previous year. As a result, import price reached the peak level of $X per ton. From 2015 to 2022, the average import prices remained at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per ton), while the price for the Czech Republic ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (+0.1%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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