Northern America: Medical Instruments Market 2024

Medical Instruments Market Size in Northern America

The North American medical instruments market expanded markedly to $X in 2022, picking up by 10% against the previous year. In general, consumption enjoyed a resilient expansion. Over the period under review, the market hit record highs in 2022 and is likely to continue growth in the immediate term.

Medical Instruments Production in Northern America

In value terms, medical instruments production totaled $X in 2022 estimated in export price. In general, production recorded a resilient expansion. The most prominent rate of growth was recorded in 2017 with an increase of 68% against the previous year. Over the period under review, production attained the peak level at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Medical Instruments Exports

Exports in Northern America

In 2022, the amount of instruments used in medical sciences exported in Northern America rose slightly to X tons, growing by 4.6% against the previous year. In general, exports, however, saw a abrupt decline. The pace of growth appeared the most rapid in 2013 with an increase of 23% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

In value terms, medical instruments exports expanded notably to $X in 2022. The total export value increased at an average annual rate of +3.4% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2018 with an increase of 11% against the previous year. Over the period under review, the exports hit record highs in 2022 and are likely to continue growth in years to come.

Exports by Country

The United States represented the major exporter of instruments used in medical sciences in Northern America, with the volume of exports recording X tons, which was approx. 80% of total exports in 2022. It was distantly followed by Canada (X tons), committing a 20% share of total exports.

Exports from the United States decreased at an average annual rate of -8.3% from 2012 to 2022. At the same time, Canada (+18.2%) displayed positive paces of growth. Moreover, Canada emerged as the fastest-growing exporter exported in Northern America, with a CAGR of +18.2% from 2012-2022. From 2012 to 2022, the share of Canada increased by +18 percentage points.

In value terms, the United States ($X) remains the largest medical instruments supplier in Northern America, comprising 95% of total exports. The second position in the ranking was held by Canada ($X), with a 5.5% share of total exports.

In the United States, medical instruments exports expanded at an average annual rate of +2.9% over the period from 2012-2022.

Export Prices by Country

In 2022, the export price in Northern America amounted to $X per ton, growing by 5.1% against the previous year. Over the period under review, the export price continues to indicate a remarkable increase. The most prominent rate of growth was recorded in 2017 an increase of 58%. The level of export peaked at $X per ton in 2018; however, from 2019 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was the United States ($X per ton), while Canada totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+12.2%).

Medical Instruments Imports

Imports in Northern America

In 2022, after four years of growth, there was decline in overseas purchases of instruments used in medical sciences, when their volume decreased by -0.5% to X tons. Total imports indicated a resilient expansion from 2012 to 2022: its volume increased at an average annual rate of +6.0% 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 +79.2% against 2012 indices. The growth pace was the most rapid in 2015 with an increase of 20% against the previous year. Over the period under review, imports attained the maximum at X tons in 2021, and then dropped slightly in the following year.

In value terms, medical instruments imports reached $X in 2022. Total imports indicated a prominent expansion from 2012 to 2022: its value increased at an average annual rate of +7.0% 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 +97.0% against 2012 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 16%. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in the immediate term.

Imports by Country

The United States dominates imports structure, recording X tons, which was approx. 91% of total imports in 2022. It was distantly followed by Canada (X tons), generating an 8.6% share of total imports.

The United States was also the fastest-growing in terms of the instruments used in medical sciences imports, with a CAGR of +6.5% from 2012 to 2022. At the same time, Canada (+1.7%) displayed positive paces of growth. The United States (+4.4 p.p.) significantly strengthened its position in terms of the total imports, while Canada saw its share reduced by -4.4% from 2012 to 2022, respectively.

In value terms, the United States ($X) constitutes the largest market for imported instruments used in medical sciences in Northern America, comprising 93% of total imports. The second position in the ranking was taken by Canada ($X), with a 7% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value in the United States totaled +7.7%.

Import Prices by Country

The import price in Northern America stood at $X per ton in 2022, growing by 9.5% against the previous year. Overall, the import price showed mild growth. The most prominent rate of growth was recorded in 2014 an increase of 17%. Over the period under review, import prices attained the maximum in 2022 and is expected to retain growth in the near future.

Average prices varied somewhat amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was the United States ($X per ton), while Canada amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+1.1%).

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :