Russian Federation: Ophthalmic Instruments Market 2024

Ophthalmic Instruments Market Size in the Russian Federation

The Russian ophthalmic instruments market surged to $X in 2021, picking up by 26% 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, the total consumption indicated a pronounced increase from 2012 to 2021: its value increased at an average annual rate of +2.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -4.0% against 2019 indices. Over the period under review, the market reached the peak level at $X in 2019; however, from 2020 to 2021, consumption stood at a somewhat lower figure.

Ophthalmic Instruments Exports

Exports from the Russian Federation

In 2021, shipments abroad of ophthalmic instruments and appliances decreased by -18.1% to X tons, falling for the third consecutive year after three years of growth. Over the period under review, exports, however, posted a moderate expansion. The pace of growth appeared the most rapid in 2018 when exports increased by 95% against the previous year. As a result, the exports reached the peak of X tons. From 2019 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, ophthalmic instruments exports expanded markedly to $X in 2021. Overall, exports, however, showed a buoyant increase. The growth pace was the most rapid in 2018 when exports increased by 109%. 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

Belarus (X tons) was the main destination for ophthalmic instruments exports from Russia, accounting for a 28% share of total exports. Moreover, ophthalmic instruments exports to Belarus exceeded the volume sent to the second major destination, the United States (X tons), twofold. The Netherlands (X kg) ranked third in terms of total exports with a 5.6% share.

From 2012 to 2021, the average annual growth rate of volume to Belarus stood at +17.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (-5.5% per year) and the Netherlands (+48.4% per year).

In value terms, Belarus ($X) remains the key foreign market for ophthalmic instruments and appliances exports from Russia, comprising 30% of total exports. The second position in the ranking was held by the United States ($X), with an 8.2% share of total exports. It was followed by Switzerland, with a 4% share.

From 2012 to 2021, the average annual growth rate of value to Belarus stood at +20.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (-5.3% per year) and Switzerland (+39.7% per year).

Export Prices by Country

The average ophthalmic instruments export price stood at $X per ton in 2021, increasing by 40% against the previous year. Overall, export price indicated notable growth from 2012 to 2021: its price increased at an average annual rate of +3.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, ophthalmic instruments export price increased by +88.8% against 2017 indices. Over the period under review, the average export prices attained the maximum at $X per ton in 2014; however, from 2015 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably country of destination: the country with the highest price was Switzerland ($X per ton), while the average price for exports to Kyrgyzstan ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Uzbekistan (+61.4%), while the prices for the other major destinations experienced more modest paces of growth.

Ophthalmic Instruments Imports

Imports into the Russian Federation

In 2021, the amount of ophthalmic instruments and appliances imported into Russia soared to X tons, increasing by 16% compared with 2020. In general, imports, however, continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2019 with an increase of 28% against the previous year. As a result, imports attained the peak of X tons. From 2020 to 2021, the growth of imports failed to regain momentum.

In value terms, ophthalmic instruments imports soared to $X in 2021. Overall, total imports indicated a temperate increase from 2012 to 2021: its value increased at an average annual rate of +3.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -0.4% against 2019 indices. The pace of growth was the most pronounced in 2018 with an increase of 44% against the previous year. Imports peaked at $X in 2019; however, from 2020 to 2021, imports remained at a lower figure.

Imports by Country

South Korea (X tons), Germany (X tons) and China (X tons) were the main suppliers of ophthalmic instruments imports to Russia, with a combined 40% share of total imports. These countries were followed by the Netherlands, the United States, Lithuania, Switzerland and Japan, which together accounted for a further 21%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Lithuania (with a CAGR of +43.8%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X) constituted the largest supplier of ophthalmic instruments and appliances to Russia, comprising 19% of total imports. The second position in the ranking was taken by the United States ($X), with an 8.3% share of total imports. It was followed by the Netherlands, with an 8% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Germany amounted to -4.0%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-6.8% per year) and the Netherlands (+4.9% per year).

Import Prices by Country

The average ophthalmic instruments import price stood at $X per ton in 2021, picking up by 9.9% against the previous year. Over the last nine years, it increased at an average annual rate of +3.6%. The most prominent rate of growth was recorded in 2018 when the average import price increased by 19%. Over the period under review, average import prices attained the peak figure in 2021 and is likely to see steady growth in years to come.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Netherlands (+7.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :