Northern America: Ophthalmic Instruments Market 2024

Ophthalmic Instruments Market Size in Northern America

The North American ophthalmic instruments market contracted to $X in 2021, waning by -7.9% against the previous year. Over the period under review, consumption saw a strong expansion. As a result, consumption attained the peak level of $X, and then dropped in the following year.

Ophthalmic Instruments Production in Northern America

In value terms, ophthalmic instruments production contracted dramatically to $X in 2021 estimated in export price. The total production indicated measured growth from 2012 to 2021: its value 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, production increased by +25.9% against 2019 indices. The most prominent rate of growth was recorded in 2020 when the production volume increased by 52%. As a result, production reached the peak level of $X, and then contracted rapidly in the following year.

Ophthalmic Instruments Exports

Exports in Northern America

In 2021, the amount of ophthalmic instruments and appliances exported in Northern America reduced dramatically to X tons, shrinking by -22.5% against the year before. In general, exports continue to indicate a deep reduction. The most prominent rate of growth was recorded in 2014 when exports increased by 48% against the previous year. As a result, the exports attained the peak of X tons. From 2015 to 2021, the growth of the exports failed to regain momentum.

In value terms, ophthalmic instruments exports expanded sharply to $X in 2021. Overall, exports continue to indicate a relatively flat trend pattern. The level of export peaked at $X in 2014; however, from 2015 to 2021, the exports failed to regain momentum.

Exports by Country

The United States dominates exports structure, resulting at X tons, which was near 97% of total exports in 2021. Canada (X tons) took a relatively small share of total exports.

Exports from the United States decreased at an average annual rate of -9.0% from 2012 to 2021. Canada (-1.2%) illustrated a downward trend over the same period. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, the United States ($X) remains the largest ophthalmic instruments supplier in Northern America, comprising 99% of total exports. The second position in the ranking was held by Canada ($X), with a 1.4% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value in the United States was relatively modest.

Export Prices by Country

The export price in Northern America stood at $X per ton in 2021, rising by 47% against the previous year. In general, the export price enjoyed a resilient increase. The most prominent rate of growth was recorded in 2020 when the export price increased by 47%. Over the period under review, the export prices attained the maximum in 2021 and is likely to see gradual growth in the immediate term.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+8.9%).

Ophthalmic Instruments Imports

Imports in Northern America

In 2021, the amount of ophthalmic instruments and appliances imported in Northern America skyrocketed to X tons, rising by 30% against the year before. The total import volume increased at an average annual rate of +3.7% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, imports hit record highs at X tons in 2019; however, from 2020 to 2021, imports failed to regain momentum.

In value terms, ophthalmic instruments imports skyrocketed to $X in 2021. Total imports indicated resilient growth from 2012 to 2021: its value increased at an average annual rate of +6.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

The United States represented the main importer of ophthalmic instruments and appliances in Northern America, with the volume of imports amounting to X tons, which was approx. 75% of total imports in 2021. It was distantly followed by Canada (X tons), constituting a 25% share of total imports.

Imports into the United States increased at an average annual rate of +3.5% from 2012 to 2021. At the same time, Canada (+4.1%) displayed positive paces of growth. Moreover, Canada emerged as the fastest-growing importer imported in Northern America, with a CAGR of +4.1% from 2012-2021. The shares of the largest importers remained relatively stable throughout the analyzed period.

In value terms, the United States ($X) constitutes the largest market for imported ophthalmic instruments and appliances in Northern America, comprising 80% of total imports. The second position in the ranking was taken by Canada ($X), with a 20% share of total imports.

In the United States, ophthalmic instruments imports expanded at an average annual rate of +7.4% over the period from 2012-2021.

Import Prices by Country

The import price in Northern America stood at $X per ton in 2021, rising by 6.1% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +3.1%. The growth pace was the most rapid in 2020 when the import price increased by 27% against the previous year. Over the period under review, import prices hit record highs in 2021 and is expected to retain growth in years to come.

Average prices varied somewhat amongst the major importing countries. In 2021, the country with the highest price was the United States ($X per ton), while Canada totaled $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+3.7%).

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :