Mexico: Ophthalmic Instruments Market 2024

Ophthalmic Instruments Market Size in Mexico

The Mexican ophthalmic instruments market fell slightly to $X in 2021, with a decrease of -1.8% against the previous year. Over the period under review, the total consumption indicated a buoyant expansion from 2012 to 2021: its value increased at an average annual rate of +6.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -3.1% against 2019 indices. Over the period under review, the market reached the peak level at $X in 2019; however, from 2020 to 2021, consumption failed to regain momentum.

Ophthalmic Instruments Production in Mexico

In value terms, ophthalmic instruments production shrank to $X in 2021 estimated in export price. Overall, the total production indicated a buoyant expansion from 2012 to 2021: its value increased at an average annual rate of +7.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +57.3% against 2016 indices. The pace of growth was the most pronounced in 2017 with an increase of 47%. Over the period under review, production reached the peak level at $X in 2020, and then reduced in the following year.

Ophthalmic Instruments Exports

Exports from Mexico

Ophthalmic instruments exports from Mexico surged to X tons in 2021, jumping by 48% compared with the previous year's figure. Overall, exports enjoyed a prominent expansion. The most prominent rate of growth was recorded in 2014 with an increase of 114% against the previous year. The exports peaked in 2021 and are expected to retain growth in the near future.

In value terms, ophthalmic instruments exports stood at $X in 2021. In general, exports recorded a significant expansion. The pace of growth appeared the most rapid in 2015 when exports increased by 158%. Over the period under review, the exports attained the peak figure at $X in 2019; however, from 2020 to 2021, the exports remained at a lower figure.

Exports by Country

The United States (X tons) was the main destination for ophthalmic instruments exports from Mexico, with a approx. 99% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of volume to the United States amounted to +12.1%.

In value terms, the United States ($X) also remains the key foreign market for ophthalmic instruments and appliances exports from Mexico.

From 2012 to 2021, the average annual rate of growth in terms of value to the United States totaled +39.1%.

Export Prices by Country

The average ophthalmic instruments export price stood at $X per ton in 2021, dropping by -27.6% against the previous year. Overall, the export price, however, enjoyed a significant expansion. The most prominent rate of growth was recorded in 2017 when the average export price increased by 87%. Over the period under review, the average export prices hit record highs at $X per ton in 2018; however, from 2019 to 2021, the export prices stood at a somewhat lower figure.

As there is only one major export destination, the average price level is determined by prices for the United States.

From 2012 to 2021, the rate of growth in terms of prices for the United States amounted to +24.1% per year.

Ophthalmic Instruments Imports

Imports into Mexico

In 2021, imports of ophthalmic instruments and appliances into Mexico totaled X tons, increasing by 15% on 2020 figures. Overall, total imports indicated tangible growth from 2012 to 2021: its volume increased at an average annual rate of +3.4% 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 -11.9% against 2019 indices. The growth pace was the most rapid in 2016 with an increase of 32%. Imports peaked at X tons in 2019; however, from 2020 to 2021, imports failed to regain momentum.

In value terms, ophthalmic instruments imports expanded to $X in 2021. In general, imports, however, showed a mild contraction. The growth pace was the most rapid in 2016 when imports increased by 25%. As a result, imports reached the peak of $X. From 2017 to 2021, the growth of imports failed to regain momentum.

Imports by Country

In 2021, the United States (X tons) constituted the largest ophthalmic instruments supplier to Mexico, with a 61% share of total imports. Moreover, ophthalmic instruments imports from the United States exceeded the figures recorded by the second-largest supplier, China (X tons), threefold. Germany (X tons) ranked third in terms of total imports with a 4.8% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from the United States totaled +3.7%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+7.2% per year) and Germany (-0.1% per year).

In value terms, the United States ($X) constituted the largest supplier of ophthalmic instruments and appliances to Mexico, comprising 40% of total imports. The second position in the ranking was held by Germany ($X), with an 18% share of total imports. It was followed by Switzerland, with a 7.3% share.

From 2012 to 2021, the average annual rate of growth in terms of value from the United States totaled -6.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+4.4% per year) and Switzerland (+5.9% per year).

Import Prices by Country

In 2021, the average ophthalmic instruments import price amounted to $X per ton, waning by -9.7% against the previous year. In general, the import price continues to indicate a noticeable descent. The most prominent rate of growth was recorded in 2014 when the average import price increased by 18% against the previous year. As a result, import price attained the peak level of $X per ton. From 2015 to 2021, the average import prices remained 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 Switzerland ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (+4.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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