Panama: X-Ray Apparatus Market 2024

X-Ray Apparatus Market Size in Panama

The Panamanian x-ray apparatus market expanded to $X in 2022, with an increase of 4.2% against the previous year. In general, the total consumption indicated a notable expansion from 2012 to 2022: its value increased at an average annual rate of +4.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +15.7% against 2020 indices. X-ray apparatus consumption peaked at $X in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

X-Ray Apparatus Production in Panama

In value terms, x-ray apparatus production fell slightly to $X in 2022 estimated in export price. Over the period under review, the total production indicated a temperate expansion from 2012 to 2022: its value increased at an average annual rate of +4.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -6.2% against 2019 indices. The most prominent rate of growth was recorded in 2015 when the production volume increased by 35%. X-ray apparatus production peaked at $X in 2016; however, from 2017 to 2022, production remained at a lower figure.

X-Ray Apparatus Exports

Exports from Panama

In 2022, exports of x-ray apparatus from Panama surged to X units, growing by 49% against 2021. In general, exports, however, showed a deep downturn. The most prominent rate of growth was recorded in 2020 with an increase of 155%. The exports peaked at X units in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

In value terms, x-ray apparatus exports skyrocketed to $X in 2022. Overall, exports, however, continue to indicate a abrupt downturn. The pace of growth appeared the most rapid in 2020 with an increase of 170%. Over the period under review, the exports attained the peak figure at $X in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

Exports by Country

Costa Rica (X units), the Dominican Republic (X units) and Honduras (X units) were the main destinations of x-ray apparatus exports from Panama, with a combined 70% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Costa Rica (with a CAGR of +34.9%), while the other leaders experienced more modest paces of growth.

In value terms, the Netherlands ($X), Costa Rica ($X) and Venezuela ($X) were the largest markets for x-ray apparatus exported from Panama worldwide, with a combined 50% share of total exports.

Costa Rica, with a CAGR of +34.8%, recorded 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 x-ray apparatus export price amounted to $X per unit, flattening at the previous year. In general, the export price recorded a abrupt descent. The most prominent rate of growth was recorded in 2014 an increase of 68% against the previous year. The export price peaked at $X per unit in 2015; however, from 2016 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the Netherlands ($X per unit), while the average price for exports to the UK ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the Netherlands (+17.1%), while the prices for the other major destinations experienced mixed trend patterns.

X-Ray Apparatus Imports

Imports into Panama

In 2022, supplies from abroad of x-ray apparatus increased by 85% to X units, rising for the second year in a row after three years of decline. Overall, imports saw pronounced growth. The most prominent rate of growth was recorded in 2017 when imports increased by 736% against the previous year. As a result, imports attained the peak of X units. From 2018 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, x-ray apparatus imports surged to $X in 2022. In general, imports enjoyed a resilient increase. The growth pace was the most rapid in 2017 when imports increased by 628% against the previous year. Over the period under review, imports attained the peak figure in 2022 and are likely to continue growth in the immediate term.

Imports by Country

The United States (X units), Free Zones (X units) and France (X units) were the main suppliers of x-ray apparatus imports to Panama, with a combined 56% share of total imports. China, Germany, Brazil, the Netherlands, India, Italy, Colombia, Mexico, the UK and Belgium lagged somewhat behind, together accounting for a further 36%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by India (with a CAGR of +28.2%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), Free Zones ($X) and Germany ($X) appeared to be the largest x-ray apparatus suppliers to Panama, with a combined 62% share of total imports. The Netherlands, the UK, China, Italy, Colombia, India, France, Brazil, Mexico and Belgium lagged somewhat behind, together comprising a further 23%.

The UK, with a CAGR of +54.0%, saw 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

In 2022, the average x-ray apparatus import price amounted to $X per unit, with an increase of 17% against the previous year. Over the period under review, the import price continues to indicate resilient growth. The most prominent rate of growth was recorded in 2015 an increase of 167%. The import price peaked in 2022 and is likely to continue growth in the near future.

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 Germany ($X per unit), while the price for Brazil ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Free Zones (+25.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform