New Zealand: Diagnostic Equipment Market 2024

Diagnostic Equipment Market Size in New Zealand

In 2021, after three years of growth, there was significant decline in the New Zealand diagnostic equipment market, when its value decreased by -10.7% to $X. Over the period under review, consumption, however, enjoyed a resilient increase. As a result, consumption reached the peak level of $X, and then contracted in the following year.

Diagnostic Equipment Production in New Zealand

In value terms, diagnostic equipment production contracted significantly to $X in 2021 estimated in export price. In general, production, however, saw strong growth. The pace of growth appeared the most rapid in 2020 with an increase of 68% against the previous year. As a result, production attained the peak level of $X, and then fell dramatically in the following year.

Diagnostic Equipment Exports

Exports from New Zealand

In 2021, shipments abroad of electro-diagnostic apparatus, and ultra-violet or infra-red ray apparatus increased by 34% to X units, rising for the second consecutive year after five years of decline. Over the period under review, exports, however, saw a abrupt decrease. The most prominent rate of growth was recorded in 2014 with an increase of 56% against the previous year. As a result, the exports reached the peak of X units. From 2015 to 2021, the growth of the exports remained at a lower figure.

In value terms, diagnostic equipment exports skyrocketed to $X in 2021. In general, exports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 with an increase of 81%. As a result, the exports attained the peak of $X. From 2014 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

Australia (X units) was the main destination for diagnostic equipment exports from New Zealand, with a 819% share of total exports. Moreover, diagnostic equipment exports to Australia exceeded the volume sent to the second major destination, Singapore (X units), threefold. The third position in this ranking was held by the United States (X units), with a 168% share.

From 2012 to 2021, the average annual growth rate of volume to Australia amounted to +15.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Singapore (-2.2% per year) and the United States (-4.3% per year).

In value terms, Australia ($X) remains the key foreign market for electro-diagnostic apparatus, and ultra-violet or infra-red ray apparatus exports from New Zealand, comprising 61% of total exports. The second position in the ranking was held by Singapore ($X), with a 24% share of total exports. It was followed by Germany, with a 23% share.

From 2012 to 2021, the average annual growth rate of value to Australia totaled +13.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Singapore (+7.0% per year) and Germany (+35.9% per year).

Export Prices by Country

The average diagnostic equipment export price stood at $X per unit in 2021, waning by -9.1% against the previous year. Over the period under review, the export price, however, recorded a significant expansion. The growth pace was the most rapid in 2017 when the average export price increased by 146%. Over the period under review, the average export prices hit record highs at $X per unit in 2019; however, from 2020 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major export markets. In 2021, amid the top suppliers, the country with the highest price was Germany ($X per unit), while the average price for exports to the Netherlands ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Japan (+15.7%), while the prices for the other major destinations experienced more modest paces of growth.

Diagnostic Equipment Imports

Imports into New Zealand

In 2021, overseas purchases of electro-diagnostic apparatus, and ultra-violet or infra-red ray apparatus increased by 21% to X units, rising for the fourth consecutive year after three years of decline. Over the period under review, total imports indicated a tangible expansion from 2012 to 2021: its volume increased at an average annual rate of +3.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +112.3% against 2017 indices. The pace of growth was the most pronounced in 2020 when imports increased by 32%. Imports peaked in 2021 and are likely to continue growth in years to come.

In value terms, diagnostic equipment imports skyrocketed to $X in 2021. Overall, imports recorded buoyant growth. The pace of growth was the most pronounced in 2019 when imports increased by 42%. Over the period under review, imports reached the peak figure in 2021 and are likely to continue growth in years to come.

Imports by Country

The United States (X units), China (X units) and Ireland (X units) were the main suppliers of diagnostic equipment imports to New Zealand.

From 2012 to 2021, the biggest increases were recorded for Hong Kong SAR (with a CAGR of +73.4%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) constituted the largest supplier of electro-diagnostic apparatus, and ultra-violet or infra-red ray apparatus to New Zealand, comprising 30% of total imports. The second position in the ranking was taken by China ($X), with a 13% share of total imports. It was followed by Australia, with an 8% share.

From 2012 to 2021, the average annual growth rate of value from the United States stood at +3.1%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+30.1% per year) and Australia (+5.7% per year).

Import Prices by Country

The average diagnostic equipment import price stood at $X per unit in 2021, stabilizing at the previous year. Over the period under review, import price indicated a buoyant expansion from 2012 to 2021: its price increased at an average annual rate of +5.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, diagnostic equipment import price decreased by -18.9% against 2019 indices. The most prominent rate of growth was recorded in 2015 an increase of 61%. Over the period under review, average import prices reached the peak figure at $X per unit in 2019; however, from 2020 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was the United States ($X per unit), while the price for Ireland ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Australia (+12.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :