South-Eastern Asia: Pacemaker Market 2024

Pacemaker Market Size in South-Eastern Asia

After three years of decline, the Southeast Asian pacemaker market increased by 16% to $X in 2021. Over the period under review, consumption continues to indicate prominent growth. The level of consumption peaked at $X in 2017; however, from 2018 to 2021, consumption remained at a lower figure.

Pacemaker Production in South-Eastern Asia

In value terms, pacemaker production rose significantly to $X in 2021 estimated in export price. In general, production showed a buoyant increase. The pace of growth appeared the most rapid in 2015 with an increase of 52%. The level of production peaked at $X in 2017; however, from 2018 to 2021, production failed to regain momentum.

Pacemaker Exports

Exports in South-Eastern Asia

Pacemaker exports stood at X units in 2021, almost unchanged from the year before. Overall, exports enjoyed a strong increase. The pace of growth was the most pronounced in 2014 with an increase of 75%. The volume of export peaked at X units in 2019; however, from 2020 to 2021, the exports stood at a somewhat lower figure.

In value terms, pacemaker exports declined remarkably to $X in 2021. In general, exports showed a remarkable increase. The most prominent rate of growth was recorded in 2014 when exports increased by 77% against the previous year. The level of export peaked at $X in 2019; however, from 2020 to 2021, the exports failed to regain momentum.

Exports by Country

Malaysia represented the major exporting country with an export of around X units, which accounted for 79% of total exports. It was distantly followed by Singapore (X units), constituting a 21% share of total exports.

Exports from Malaysia increased at an average annual rate of +12.5% from 2012 to 2021. At the same time, Singapore (+16.3%) displayed positive paces of growth. Moreover, Singapore emerged as the fastest-growing exporter exported in South-Eastern Asia, with a CAGR of +16.3% from 2012-2021. While the share of Singapore (+4.5 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Malaysia (-4.4 p.p.) displayed negative dynamics.

In value terms, Malaysia ($X) remains the largest pacemaker supplier in South-Eastern Asia, comprising 67% of total exports. The second position in the ranking was held by Singapore ($X), with a 33% share of total exports.

From 2012 to 2021, the average annual growth rate of value in Malaysia amounted to +6.9%.

Export Prices by Country

The export price in South-Eastern Asia stood at $X per unit in 2021, declining by -20.3% against the previous year. Over the period under review, the export price showed a pronounced descent. The most prominent rate of growth was recorded in 2016 an increase of 39% against the previous year. The level of export peaked 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 amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Singapore ($X per unit), while Malaysia amounted to $X per unit.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Singapore (-4.5%).

Pacemaker Imports

Imports in South-Eastern Asia

In 2021, purchases abroad of pacemakers for stimulating heart muscles (excl. parts and accessories) increased by 20% to X units, rising for the third year in a row after two years of decline. Total imports indicated a prominent increase from 2012 to 2021: its volume increased at an average annual rate of +8.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +40.8% against 2018 indices. The pace of growth was the most pronounced in 2013 when imports increased by 87% against the previous year. Over the period under review, imports reached the peak figure in 2021 and are expected to retain growth in the immediate term.

In value terms, pacemaker imports surged to $X in 2021. Total imports indicated a resilient expansion from 2012 to 2021: its value increased at an average annual rate of +7.8% 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 +62.0% against 2017 indices. The growth pace was the most rapid in 2013 when imports increased by 75% against the previous year. The level of import peaked in 2021 and is likely to continue growth in years to come.

Imports by Country

Singapore represented the main importing country with an import of around X units, which reached 56% of total imports. Thailand (X units) held a 20% share (based on physical terms) of total imports, which put it in second place, followed by Malaysia (6.9%), Vietnam (6.9%) and the Philippines (5.5%). Indonesia (X units) followed a long way behind the leaders.

Imports into Singapore increased at an average annual rate of +8.0% from 2012 to 2021. At the same time, the Philippines (+28.3%), Indonesia (+28.0%), Thailand (+9.1%), Malaysia (+5.8%) and Vietnam (+3.6%) displayed positive paces of growth. Moreover, the Philippines emerged as the fastest-growing importer imported in South-Eastern Asia, with a CAGR of +28.3% from 2012-2021. The Philippines (+4.3 p.p.), Indonesia (+2.7 p.p.) and Thailand (+1.5 p.p.) significantly strengthened its position in terms of the total imports, while Malaysia and Vietnam saw its share reduced by -1.5% and -3.3% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Singapore ($X) constitutes the largest market for imported pacemakers for stimulating heart muscles (excl. parts and accessories) in South-Eastern Asia, comprising 58% of total imports. The second position in the ranking was taken by Thailand ($X), with a 19% share of total imports. It was followed by Malaysia, with an 8% share.

In Singapore, pacemaker imports increased at an average annual rate of +6.7% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Thailand (+8.9% per year) and Malaysia (+15.7% per year).

Import Prices by Country

In 2021, the import price in South-Eastern Asia amounted to $X per unit, therefore, remained relatively stable against the previous year. Over the period under review, the import price, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 an increase of 11% against the previous year. As a result, import price reached the peak level of $X per unit. From 2015 to 2021, the import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Malaysia (+9.3%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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