South-Eastern Asia: Diagnostic Equipment Market 2024

Diagnostic Equipment Market Size in South-Eastern Asia

For the fourth consecutive year, the Southeast Asian diagnostic equipment market recorded growth in sales value, which increased by 15% to $X in 2021. In general, consumption recorded prominent growth. The level of consumption peaked in 2021 and is likely to continue growth in the near future.

Diagnostic Equipment Production in South-Eastern Asia

In value terms, diagnostic equipment production stood at $X in 2021 estimated in export price. Over the period under review, production, however, recorded a resilient expansion. The growth pace was the most rapid in 2018 with an increase of 69% against the previous year. The level of production peaked at $X in 2019; afterwards, it flattened through to 2021.

Diagnostic Equipment Exports

Exports in South-Eastern Asia

In 2021, the amount of electro-diagnostic apparatus, and ultra-violet or infra-red ray apparatus exported in South-Eastern Asia surged to X units, with an increase of 26% on 2020 figures. Over the period under review, exports, however, recorded a abrupt decrease. The pace of growth appeared the most rapid in 2017 with an increase of 30% against the previous year. Over the period under review, the exports reached the peak figure at X units in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, diagnostic equipment exports expanded notably to $X in 2021. Total exports indicated a buoyant increase from 2012 to 2021: its value increased at an average annual rate of +6.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +51.3% against 2016 indices. The growth pace was the most rapid in 2014 with an increase of 18% against the previous year. The level of export peaked in 2021 and is expected to retain growth in the immediate term.

Exports by Country

In 2021, Malaysia (X units) represented the major exporter of electro-diagnostic apparatus, and ultra-violet or infra-red ray apparatus, achieving 59% of total exports. Singapore (X units) ranks second in terms of the total exports with a 24% share, followed by Vietnam (8.3%) and Indonesia (6.3%). Thailand (X units) held a little share of total exports.

Malaysia was also the fastest-growing in terms of the electro-diagnostic apparatus, and ultra-violet or infra-red ray apparatus exports, with a CAGR of +20.2% from 2012 to 2021. At the same time, Thailand (+4.2%) and Vietnam (+2.6%) displayed positive paces of growth. By contrast, Singapore (-4.1%) and Indonesia (-27.2%) illustrated a downward trend over the same period. Malaysia (+52 p.p.), Vietnam (+4.3 p.p.) and Singapore (+2.8 p.p.) significantly strengthened its position in terms of the total exports, while Indonesia saw its share reduced by -60% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Singapore ($X), Malaysia ($X) and Vietnam ($X) appeared to be the countries with the highest levels of exports in 2021, together accounting for 95% of total exports.

Malaysia, with a CAGR of +15.5%, recorded the highest rates of growth with regard to the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in South-Eastern Asia stood at $X per unit in 2021, dropping by -9.4% against the previous year. In general, the export price, however, showed strong growth. The most prominent rate of growth was recorded in 2019 an increase of 135%. As a result, the export price attained the peak level of $X per unit. From 2020 to 2021, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Singapore ($X per unit), while Indonesia ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Indonesia (+19.0%), while the other leaders experienced more modest paces of growth.

Diagnostic Equipment Imports

Imports in South-Eastern Asia

In 2021, supplies from abroad of electro-diagnostic apparatus, and ultra-violet or infra-red ray apparatus increased by 57% to X units, rising for the second year in a row after two years of decline. Overall, imports showed a prominent expansion. The most prominent rate of growth was recorded in 2020 when imports increased by 82% against the previous year. Over the period under review, imports reached the peak figure in 2021 and are likely to see gradual growth in years to come.

In value terms, diagnostic equipment imports totaled $X in 2021. Total imports indicated noticeable growth 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 increased by +58.0% against 2015 indices. The most prominent rate of growth was recorded in 2020 with an increase of 17%. The level of import peaked in 2021 and is expected to retain growth in the near future.

Imports by Country

In 2021, Thailand (X units) was the main importer of electro-diagnostic apparatus, and ultra-violet or infra-red ray apparatus, constituting 60% of total imports. It was distantly followed by Singapore (X units), Indonesia (X units), Vietnam (X units) and Malaysia (X units), together generating a 38% share of total imports.

Thailand was also the fastest-growing in terms of the electro-diagnostic apparatus, and ultra-violet or infra-red ray apparatus imports, with a CAGR of +33.8% from 2012 to 2021. At the same time, Vietnam (+4.3%), Malaysia (+3.1%) and Indonesia (+2.7%) displayed positive paces of growth. Singapore experienced a relatively flat trend pattern. From 2012 to 2021, the share of Thailand increased by +50 percentage points.

In value terms, Singapore ($X) constitutes the largest market for imported electro-diagnostic apparatus, and ultra-violet or infra-red ray apparatus in South-Eastern Asia, comprising 38% of total imports. The second position in the ranking was held by Thailand ($X), with an 18% share of total imports. It was followed by Malaysia, with a 15% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Singapore stood at +2.1%. In the other countries, the average annual rates were as follows: Thailand (+2.7% per year) and Malaysia (+4.4% per year).

Import Prices by Country

In 2021, the import price in South-Eastern Asia amounted to $X per unit, dropping by -32.2% against the previous year. Overall, the import price saw a abrupt curtailment. The pace of growth appeared the most rapid in 2018 when the import price increased by 18%. The level of import peaked at $X per unit in 2019; however, from 2020 to 2021, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Singapore ($X per unit), while Thailand ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Indonesia (+10.0%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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