Paraguay: Medical Instruments Market 2024

Medical Instruments Market Size in Paraguay

In 2022, after two years of growth, there was significant decline in the Paraguayan medical instruments market, when its value decreased by -7.7% to $X. In general, the total consumption indicated perceptible growth from 2012 to 2022: its value increased at an average annual rate of +4.7% 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 +34.4% against 2015 indices. Over the period under review, the market reached the peak level at $X in 2021, and then reduced in the following year.

Medical Instruments Exports

Exports from Paraguay

In 2022, the amount of instruments used in medical sciences exported from Paraguay surged to X tons, picking up by 65% against 2021 figures. Overall, exports showed a buoyant expansion. The pace of growth was the most pronounced in 2017 when exports increased by 544% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2020; however, from 2021 to 2022, the exports failed to regain momentum.

In value terms, medical instruments exports contracted markedly to $X in 2022. In general, exports posted significant growth. The most prominent rate of growth was recorded in 2013 when exports increased by 2,690% against the previous year. Over the period under review, the exports reached the maximum at $X in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Colombia (X tons) was the main destination for medical instruments exports from Paraguay, with a 67% share of total exports. Moreover, medical instruments exports to Colombia exceeded the volume sent to the second major destination, the UK (X kg), fourfold.

From 2012 to 2022, the average annual rate of growth in terms of volume to Colombia totaled -1.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: the UK (0.0% per year) and Uruguay (-11.9% per year).

In value terms, Colombia ($X) emerged as the key foreign market for instruments used in medical sciences exports from Paraguay, comprising 17% of total exports. The second position in the ranking was taken by Uruguay ($X), with a 4.5% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Colombia stood at -44.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Uruguay (-5.1% per year) and the UK (0.0% per year).

Export Prices by Country

In 2022, the average medical instruments export price amounted to $X per ton, waning by -73.4% against the previous year. Over the period under review, the export price, however, recorded a resilient expansion. The most prominent rate of growth was recorded in 2013 when the average export price increased by 1,366%. The export price peaked at $X per ton in 2014; however, from 2015 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Uruguay ($X per ton), while the average price for exports to the UK ($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 Venezuela (+1,108.2%), while the prices for the other major destinations experienced more modest paces of growth.

Medical Instruments Imports

Imports into Paraguay

Medical instruments imports into Paraguay rose rapidly to X tons in 2022, increasing by 6.2% against the year before. In general, total imports indicated a pronounced increase from 2012 to 2022: its volume increased at an average annual rate of +3.2% 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 +66.0% against 2016 indices. The pace of growth appeared the most rapid in 2018 with an increase of 37%. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in the immediate term.

In value terms, medical instruments imports contracted remarkably to $X in 2022. Overall, imports saw a remarkable increase. The pace of growth was the most pronounced in 2015 when imports increased by 72% against the previous year. Over the period under review, imports reached the maximum at $X in 2021, and then declined rapidly in the following year.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of medical instruments to Paraguay, accounting for a 66% share of total imports. Moreover, medical instruments imports from China exceeded the figures recorded by the second-largest supplier, the United States (X tons), more than tenfold. The third position in this ranking was taken by Brazil (X tons), with a 4% share.

From 2012 to 2022, the average annual growth rate of volume from China totaled +4.7%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-2.2% per year) and Brazil (-5.2% per year).

In value terms, the largest medical instruments suppliers to Paraguay were China ($X), the United States ($X) and Germany ($X), with a combined 64% share of total imports. Brazil, Japan, South Korea, India, Spain, Vietnam, Argentina, Mexico and Egypt lagged somewhat behind, together comprising a further 25%.

Vietnam, with a CAGR of +634.1%, saw the highest growth rate of 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, declining by -21.7% against the previous year. In general, import price indicated a pronounced increase from 2012 to 2022: its price increased at an average annual rate of +2.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, medical instruments import price increased by +11.1% against 2018 indices. The most prominent rate of growth was recorded in 2013 an increase of 55% against the previous year. The import price peaked at $X per ton in 2021, and then declined markedly in the following year.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per ton), while the price for Egypt ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Japan (+13.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform