Philippines: Microscope Market 2024

Microscope Market Size in the Philippines

The Philippine microscope market shrank significantly to $X in 2021, declining by -57.4% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption, however, posted a measured expansion. Over the period under review, the market reached the maximum level at $X in 2018; however, from 2019 to 2021, consumption stood at a somewhat lower figure.

Microscope Exports

Exports from the Philippines

In 2021, overseas shipments of microscopes and diffraction apparatus were finally on the rise to reach X units after two years of decline. Over the period under review, exports recorded temperate growth. The pace of growth appeared the most rapid in 2016 with an increase of 200%. The exports peaked at X units in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

In value terms, microscope exports reached $X in 2021. In general, exports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 with an increase of 326%. As a result, the exports reached the peak of $X. From 2019 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

Vietnam (X units), Japan (X units) and the Netherlands (X units) were the main destinations of microscope exports from the Philippines, with a combined 74% share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the Netherlands (with a CAGR of +146.6%), while the other leaders experienced more modest paces of growth.

In value terms, Hong Kong SAR ($X), Japan ($X) and Vietnam ($X) were the largest markets for microscope exported from the Philippines worldwide, with a combined 61% share of total exports. The Netherlands, Malaysia, Iceland, the United States, Cambodia, India and South Korea lagged somewhat behind, together accounting for a further 20%.

In terms of the main countries of destination, Iceland, with a CAGR of +873.3%, recorded the highest growth rate of the value of exports, 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 microscope export price amounted to $X per unit, reducing by -29.7% against the previous year. Overall, the export price continues to indicate a pronounced descent. The growth pace was the most rapid in 2018 when the average export price increased by 67% against the previous year. As a result, the export price attained the peak level of $X per unit. From 2019 to 2021, the average export prices remained at a lower figure.

There were significant differences in the average prices for the major foreign markets. In 2021, the country with the highest price was Hong Kong SAR ($X per unit), while the average price for exports to South Korea ($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 Iceland (+567.5%), while the prices for the other major destinations experienced more modest paces of growth.

Microscope Imports

Imports into the Philippines

In 2021, microscope imports into the Philippines dropped significantly to X units, waning by -67.7% compared with 2020 figures. In general, imports, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2015 when imports increased by 648%. As a result, imports reached the peak of X units. From 2016 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, microscope imports fell significantly to $X in 2021. Over the period under review, imports, however, showed a remarkable increase. The most prominent rate of growth was recorded in 2013 with an increase of 340% against the previous year. Imports peaked at $X in 2018; however, from 2019 to 2021, imports remained at a lower figure.

Imports by Country

Japan (X units), China (X units) and Singapore (X units) were the main suppliers of microscope imports to the Philippines, together accounting for 39% of total imports. The United States, Germany, the Netherlands, Thailand, the Czech Republic, France, Malaysia, Australia and Hong Kong SAR lagged somewhat behind, together accounting for a further 28%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Thailand (with a CAGR of +50.5%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Japan ($X), Singapore ($X) and the Netherlands ($X) were the largest microscope suppliers to the Philippines, together comprising 46% of total imports. Germany, the United States, the Czech Republic, China, Malaysia, Thailand, Australia, France and Hong Kong SAR lagged somewhat behind, together accounting for a further 23%.

Thailand, with a CAGR of +70.3%, 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 microscope import price stood at $X per unit in 2021, surging by 132% against the previous year. Over the period under review, the import price enjoyed a strong increase. The pace of growth appeared the most rapid in 2016 an increase of 154%. The import price peaked in 2021 and is expected to retain growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Singapore ($X per unit), while the price for Hong Kong SAR ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Netherlands (+13.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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