Philippines: Diagnostic Equipment Market 2025

Diagnostic Equipment Market Size in the Philippines

After two years of growth, the Philippine diagnostic equipment market decreased by -0.2% to $X in 2021. Overall, consumption saw a abrupt decrease. Diagnostic equipment consumption peaked at $X in 2013; however, from 2014 to 2021, consumption remained at a lower figure.

Diagnostic Equipment Exports

Exports from the Philippines

In 2021, overseas shipments of electro-diagnostic apparatus, and ultra-violet or infra-red ray apparatus increased by 16% to X units for the first time since 2016, thus ending a four-year declining trend. Over the period under review, exports, however, faced a precipitous setback. The growth pace was the most rapid in 2014 when exports increased by 91% against the previous year. As a result, the exports reached the peak of X units. From 2015 to 2021, the growth of the exports remained at a lower figure.

In value terms, diagnostic equipment exports soared to $X in 2021. Overall, exports, however, showed a sharp descent. The most prominent rate of growth was recorded in 2017 with an increase of 52% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

The United States (X units), Japan (X units) and Singapore (X units) were the main destinations of diagnostic equipment exports from the Philippines.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Japan (with a CAGR of +26.8%), while the other leaders experienced a decline.

In value terms, Japan ($X), Singapore ($X) and the United States ($X) were the largest markets for diagnostic equipment exported from the Philippines worldwide, with a combined 81% share of total exports.

Japan, with a CAGR of +36.6%, saw the highest rates of growth with regard to the value of exports, in terms of 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 2021, the average diagnostic equipment export price amounted to $X per unit, increasing by 11% against the previous year. Over the period under review, the export price, however, saw a abrupt shrinkage. The pace of growth was the most pronounced in 2017 an increase of 65% against the previous year. Over the period under review, the average export prices hit record highs at $X per unit in 2013; however, from 2014 to 2021, the export prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Tanzania (+55.5%), while the prices for the other major destinations experienced more modest paces of growth.

Diagnostic Equipment Imports

Imports into the Philippines

In 2021, diagnostic equipment imports into the Philippines contracted modestly to X units, reducing by -3.5% on the previous year. Overall, imports faced a abrupt decline. The most prominent rate of growth was recorded in 2020 when imports increased by 30% against the previous year. Imports peaked at X units in 2014; however, from 2015 to 2021, imports remained at a lower figure.

In value terms, diagnostic equipment imports rose rapidly to $X in 2021. Over the period under review, total imports indicated strong growth from 2012 to 2021: its value increased at an average annual rate of +5.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2016 with an increase of 82% against the previous year. As a result, imports attained the peak of $X. From 2017 to 2021, the growth of imports remained at a lower figure.

Imports by Country

The United States (X units), South Korea (X units) and Japan (X units) were the main suppliers of diagnostic equipment imports to the Philippines.

From 2012 to 2021, the biggest increases were recorded for Vietnam (with a CAGR of +115.7%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, China ($X) constituted the largest supplier of electro-diagnostic apparatus, and ultra-violet or infra-red ray apparatus to the Philippines, comprising 31% of total imports. The second position in the ranking was held by South Korea ($X), with a 14% share of total imports. It was followed by the United States, with a 12% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China totaled +7.3%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (+5.9% per year) and the United States (-23.2% per year).

Import Prices by Country

In 2021, the average diagnostic equipment import price amounted to $X per unit, picking up by 12% against the previous year. In general, the import price saw significant growth. The growth pace was the most rapid in 2018 an increase of 491% against the previous year. As a result, import price attained the peak level of $X per unit. From 2019 to 2021, the average import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was China ($X per unit), while the price for Indonesia ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Korea (+17.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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