Slovakia: Diagnostic Equipment Market 2024

Diagnostic Equipment Market Size in Slovakia

In 2021, after two years of growth, there was significant decline in the Slovak diagnostic equipment market, when its value decreased by -12.3% to $X. Over the period under review, consumption, however, continues to indicate a prominent expansion. Diagnostic equipment consumption peaked at $X in 2015; however, from 2016 to 2021, consumption stood at a somewhat lower figure.

Diagnostic Equipment Exports

Exports from Slovakia

In 2021, shipments abroad of electro-diagnostic apparatus, and ultra-violet or infra-red ray apparatus was finally on the rise to reach X units for the first time since 2018, thus ending a two-year declining trend. Overall, total exports indicated a notable increase from 2012 to 2021: its volume increased at an average annual rate of +2.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports decreased by -31.8% against 2018 indices. The growth pace was the most rapid in 2014 when exports increased by 35% against the previous year. The exports peaked at X units in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

In value terms, diagnostic equipment exports soared to $X in 2021. Over the period under review, exports, however, saw a pronounced contraction. The pace of growth was the most pronounced in 2016 with an increase of 69%. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

Iraq (X units), Belgium (X units) and the Czech Republic (X units) were the main destinations of diagnostic equipment exports from Slovakia.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Iraq (with a CAGR of +206.0%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for diagnostic equipment exported from Slovakia were Hungary ($X), Belgium ($X) and Ukraine ($X), together comprising 68% of total exports. These countries were followed by Iraq, the United States, the Czech Republic, Poland, India, Morocco, Estonia, Germany and Guatemala, which together accounted for a further 25%.

Iraq, with a CAGR of +185.3%, saw the highest growth rate of the value of exports, among 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

The average diagnostic equipment export price stood at $X per unit in 2021, surging by 38% against the previous year. Over the period under review, the export price, however, showed a abrupt decrease. Over the period under review, the average export prices attained the maximum at $X per unit in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was Hungary ($X per unit), while the average price for exports to Germany ($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 India (+8.4%), while the prices for the other major destinations experienced mixed trend patterns.

Diagnostic Equipment Imports

Imports into Slovakia

In 2021, diagnostic equipment imports into Slovakia reduced to X units, with a decrease of -13.5% on the previous year. In general, total imports indicated prominent growth from 2012 to 2021: its volume increased at an average annual rate of +5.6% 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 increased by +1.3% against 2018 indices. The growth pace was the most rapid in 2013 with an increase of 87% against the previous year. Imports peaked at X units in 2015; however, from 2016 to 2021, imports failed to regain momentum.

In value terms, diagnostic equipment imports expanded sharply to $X in 2021. Overall, total imports indicated resilient growth from 2012 to 2021: its value increased at an average annual rate of +7.9% 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 increased by +52.5% against 2016 indices. The pace of growth was the most pronounced in 2014 when imports increased by 31% against the previous year. Over the period under review, imports reached the maximum in 2021 and are expected to retain growth in the near future.

Imports by Country

The Czech Republic (X units), Germany (X units) and the Netherlands (X units) were the main suppliers of diagnostic equipment imports to Slovakia.

From 2012 to 2021, the biggest increases were recorded for France (with a CAGR of +43.5%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), the Czech Republic ($X) and the Netherlands ($X) were the largest diagnostic equipment suppliers to Slovakia, with a combined 66% share of total imports. China, Italy, Austria, the United States, France, Norway, Mexico, Hungary and Sweden lagged somewhat behind, together comprising a further 23%.

Norway, with a CAGR of +38.5%, recorded the highest rates of growth with regard to the value of imports, in terms of 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 diagnostic equipment import price stood at $X per unit in 2021, jumping by 26% against the previous year. Overall, import price indicated a temperate increase from 2012 to 2021: its price increased at an average annual rate of +2.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, diagnostic equipment import price increased by +120.3% against 2015 indices. The pace of growth was the most pronounced in 2018 when the average import price increased by 33% against the previous year. The import price peaked in 2021 and is expected to retain growth in the near future.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was China ($X per unit), while the price for Italy ($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 United States (+9.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :