Philippines: Optical Radiation Instruments Market 2025

Optical Radiation Instruments Market Size in the Philippines

In 2022, after two years of growth, there was significant decline in the Philippine optical radiation instruments market, when its value decreased by -8.6% to $X. Overall, consumption, however, showed a significant increase. Over the period under review, the market hit record highs at $X in 2021, and then reduced in the following year.

Optical Radiation Instruments Exports

Exports from the Philippines

For the third consecutive year, the Philippines recorded decline in overseas shipments of instruments using optical radiations, which decreased by -39.7% to X units in 2022. Over the period under review, exports continue to indicate a deep downturn. The most prominent rate of growth was recorded in 2017 when exports increased by 277% against the previous year. As a result, the exports reached the peak of X units. From 2018 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, optical radiation instruments exports reduced remarkably to $X in 2022. In general, exports continue to indicate a abrupt setback. The growth pace was the most rapid in 2017 when exports increased by 248% against the previous year. The exports peaked at $X in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

Exports by Country

Singapore (X units) was the main destination for optical radiation instruments exports from the Philippines, accounting for a 69% share of total exports. Moreover, optical radiation instruments exports to Singapore exceeded the volume sent to the second major destination, the United States (X units), threefold. Vietnam (X units) ranked third in terms of total exports with a 3.7% share.

From 2012 to 2022, the average annual growth rate of volume to Singapore amounted to +92.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (-25.0% per year) and Vietnam (+17.3% per year).

In value terms, Singapore ($X) emerged as the key foreign market for instruments using optical radiations exports from the Philippines, comprising 69% of total exports. The second position in the ranking was taken by the United States ($X), with a 23% share of total exports. It was followed by Vietnam, with a 3.7% share.

From 2012 to 2022, the average annual growth rate of value to Singapore amounted to +85.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (-29.1% per year) and Vietnam (+27.4% per year).

Export Prices by Country

The average optical radiation instruments export price stood at $X per unit in 2022, falling by -8.1% against the previous year. Overall, the export price continues to indicate a abrupt curtailment. The most prominent rate of growth was recorded in 2014 when the average export price increased by 14% against the previous year. As a result, the export price attained the peak level of $X per unit. From 2015 to 2022, the average export prices failed to regain momentum.

Average prices varied noticeably for the major export markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Thailand ($X per unit) and Japan ($X per unit), while the average price for exports to Vietnam ($X per unit) and Singapore ($X per unit) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Indonesia (+69.1%), while the prices for the other major destinations experienced mixed trend patterns.

Optical Radiation Instruments Imports

Imports into the Philippines

After two years of growth, supplies from abroad of instruments using optical radiations decreased by -25.6% to X units in 2022. Overall, imports, however, posted a buoyant increase. The most prominent rate of growth was recorded in 2015 when imports increased by 107%. Imports peaked at X units in 2017; however, from 2018 to 2022, imports failed to regain momentum.

In value terms, optical radiation instruments imports expanded significantly to $X in 2022. In general, imports, however, posted a significant increase. The pace of growth was the most pronounced in 2015 with an increase of 93% against the previous year. Imports peaked at $X in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Singapore (X units), Israel (X units) and the United States (X units) were the main suppliers of optical radiation instruments imports to the Philippines, with a combined 62% share of total imports. Japan, Switzerland, China, the UK, Hungary, Germany, Italy, France and Spain lagged somewhat behind, together accounting for a further 32%.

From 2012 to 2022, the biggest increases were recorded for Hungary (with a CAGR of +186.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest optical radiation instruments suppliers to the Philippines were Singapore ($X), Israel ($X) and the United States ($X), together comprising 62% of total imports. Japan, Switzerland, China, the UK, Hungary, Germany, Italy, France and Spain lagged somewhat behind, together accounting for a further 32%.

Among the main suppliers, Hungary, with a CAGR of +236.1%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average optical radiation instruments import price stood at $X per unit in 2022, picking up by 47% against the previous year. Overall, the import price showed prominent growth. The pace of growth was the most pronounced in 2017 when the average import price increased by 54% against the previous year. The import price peaked in 2022 and is expected to retain growth in the near future.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were Japan ($X per unit) and Italy ($X per unit), while the price for Singapore ($X per unit) and France ($X per unit) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+21.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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