Norway: Medical Instruments Market 2024

Medical Instruments Market Size in Norway

In 2022, the Norwegian medical instruments market decreased by -4% to $X, falling for the second consecutive year after five years of growth. The market value increased at an average annual rate of +3.1% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market attained the maximum level at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Medical Instruments Exports

Exports from Norway

In 2022, approx. X tons of instruments used in medical sciences were exported from Norway; with a decrease of -14.3% on the year before. Overall, exports showed a abrupt decline. The most prominent rate of growth was recorded in 2020 when exports increased by 36% against the previous year. The exports peaked at X tons in 2015; however, from 2016 to 2022, the exports remained at a lower figure.

In value terms, medical instruments exports contracted to $X in 2022. Over the period under review, exports continue to indicate a abrupt descent. The most prominent rate of growth was recorded in 2020 with an increase of 13% against the previous year. Over the period under review, the exports reached the maximum at $X in 2015; however, from 2016 to 2022, the exports failed to regain momentum.

Exports by Country

Sweden (X tons), the UK (X tons) and China (X tons) were the main destinations of medical instruments exports from Norway, with a combined 49% share of total exports.

From 2012 to 2022, the biggest increases were recorded for China (with a CAGR of +28.3%), while shipments for the other leaders experienced mixed trend patterns.

In value terms, Sweden ($X), the United States ($X) and the UK ($X) appeared to be the largest markets for medical instruments exported from Norway worldwide, with a combined 39% share of total exports. Germany, the Netherlands, Denmark, China, Japan, France, Belgium and Saudi Arabia lagged somewhat behind, together accounting for a further 35%.

Belgium, with a CAGR of +1.8%, saw the highest rates of growth with regard to the value of exports, among 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

In 2022, the average medical instruments export price amounted to $X per ton, growing by 6.8% against the previous year. Overall, the export price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the average export price increased by 17%. Over the period under review, the average export prices attained the peak figure at $X per ton in 2014; however, from 2015 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Japan ($X per ton), while the average price for exports to China ($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 Japan (+10.8%), while the prices for the other major destinations experienced more modest paces of growth.

Medical Instruments Imports

Imports into Norway

In 2022, medical instruments imports into Norway rose modestly to X tons, increasing by 4.4% against 2021. The total import volume increased at an average annual rate of +2.3% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2020 with an increase of 12% against the previous year. As a result, imports attained the peak of X tons; afterwards, it flattened through to 2022.

In value terms, medical instruments imports contracted to $X in 2022. The total import value increased at an average annual rate of +1.8% from 2012 to 2022; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed throughout the analyzed period. The pace of growth appeared the most rapid in 2014 with an increase of 14%. Over the period under review, imports reached the maximum at $X in 2020; however, from 2021 to 2022, imports remained at a lower figure.

Imports by Country

Germany (X tons), the United States (X tons) and Mexico (X tons) were the main suppliers of medical instruments imports to Norway, together accounting for 31% of total imports. The Czech Republic, the UK, China, Sweden, Ireland, Italy, Serbia, Portugal, Hungary and Denmark lagged somewhat behind, together comprising a further 45%.

From 2012 to 2022, the biggest increases were recorded for the Czech Republic (with a CAGR of +53.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), Germany ($X) and Mexico ($X) constituted the largest medical instruments suppliers to Norway, together comprising 47% of total imports. Sweden, China, the UK, Denmark, Ireland, the Czech Republic, Italy, Portugal, Hungary and Serbia lagged somewhat behind, together accounting for a further 23%.

The Czech Republic, with a CAGR of +48.6%, recorded the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average medical instruments import price stood at $X per ton in 2022, with a decrease of -11.5% against the previous year. Over the period under review, the import price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 an increase of 13% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2014; however, from 2015 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the United States ($X per ton), while the price for Serbia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (+4.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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