Sri Lanka: Dental Instruments Market 2024

Dental Instruments Market Size in Sri Lanka

In 2021, after two years of growth, there was decline in the Sri Lankan dental instruments market, when its value decreased by -2.1% to $X. The market value increased at an average annual rate of +2.6% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Dental instruments consumption peaked at $X in 2020, and then reduced in the following year.

Dental Instruments Production in Sri Lanka

In value terms, dental instruments production shrank slightly to $X in 2021 estimated in export price. Overall, production, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 when the production volume increased by 30% against the previous year. Dental instruments production peaked at $X in 2020, and then declined slightly in the following year.

Dental Instruments Exports

Exports from Sri Lanka

In 2021, the amount of instruments for dental sciences exported from Sri Lanka surged to X units, growing by 1,753% on the previous year. Over the period under review, exports showed a significant expansion. The most prominent rate of growth was recorded in 2015 with an increase of 6,378% against the previous year. As a result, the exports reached the peak of X units. From 2016 to 2021, the growth of the exports failed to regain momentum.

In value terms, dental instruments exports skyrocketed to $X in 2021. Overall, exports showed a remarkable increase. The pace of growth was the most pronounced in 2015 when exports increased by 2,533% against the previous year. As a result, the exports reached the peak of $X. From 2016 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Russia (X units), the United States (X units) and Switzerland (X units) were the main destinations of dental instruments exports from Sri Lanka, together comprising 97% 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 Switzerland (with a CAGR of +7.8%), while the other leaders experienced mixed trend patterns.

In value terms, Switzerland ($X), Russia ($X) and the United States ($X) were the largest markets for dental instruments exported from Sri Lanka worldwide, together accounting for 44% of total exports.

Switzerland, with a CAGR of +22.2%, 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 mixed trend patterns.

Export Prices by Country

The average dental instruments export price stood at $X per unit in 2021, falling by -86% against the previous year. Overall, the export price recorded a dramatic descent. The pace of growth appeared the most rapid in 2016 when the average export price increased by 277% against the previous year. Over the period under review, the average export prices reached the peak figure at $X per unit in 2013; however, from 2014 to 2021, the export prices remained at a lower figure.

Prices varied noticeably country of destination: the country with the highest price was Switzerland ($X per unit), while the average price for exports to the United States ($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 Switzerland (+13.4%).

Dental Instruments Imports

Imports into Sri Lanka

In 2021, after two years of decline, there was significant growth in purchases abroad of instruments for dental sciences, when their volume increased by 161% to X units. Overall, imports posted a pronounced expansion. Imports peaked at X units in 2018; however, from 2019 to 2021, imports remained at a lower figure.

In value terms, dental instruments imports skyrocketed to $X in 2021. Over the period under review, imports saw a resilient expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Germany (X units) constituted the largest supplier of dental instruments to Sri Lanka, with a 42% share of total imports. Moreover, dental instruments imports from Germany exceeded the figures recorded by the second-largest supplier, Japan (X units), threefold. India (X units) ranked third in terms of total imports with an 8.6% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Germany amounted to +37.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+32.3% per year) and India (+3.3% per year).

In value terms, the largest dental instruments suppliers to Sri Lanka were Japan ($X), Germany ($X) and Italy ($X), together comprising 71% of total imports.

Italy, with a CAGR of +34.8%, saw the highest growth rate of 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 dental instruments import price stood at $X per unit in 2021, rising by 9.9% against the previous year. Overall, import price indicated a perceptible increase from 2012 to 2021: its price increased at an average annual rate of +4.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, dental instruments import price decreased by -8.6% against 2019 indices. The pace of growth appeared the most rapid in 2013 when the average import price increased by 48%. Over the period under review, average import prices attained the maximum at $X per unit in 2016; however, from 2017 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was the UK ($X per unit), while the price for South Korea ($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 UK (+20.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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