Report Update Nov 1, 2024

Sri Lanka - Instruments Used in Medical Sciences - Market Analysis, Forecast, Size, Trends and Insights

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Sri Lanka: Medical Instruments Market 2024

Medical Instruments Market Size in Sri Lanka

The Sri Lankan medical instruments market reduced to $X in 2022, dropping by -14% 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). Over the period under review, the total consumption indicated a resilient increase from 2012 to 2022: its value increased at an average annual rate of +6.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +57.6% against 2018 indices. Medical instruments consumption peaked at $X in 2021, and then contracted in the following year.

Medical Instruments Exports

Exports from Sri Lanka

In value terms, medical instruments exports soared to $X in 2022. Overall, exports continue to indicate a buoyant increase. The pace of growth was the most pronounced in 2014 when exports increased by 1,376%. The exports peaked at $X in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

Exports by Country

In value terms, the largest markets for medical instruments exported from Sri Lanka were Singapore ($X), the UK ($X) and the United States ($X), together comprising 83% of total exports.

Among the main countries of destination, the United States, with a CAGR of +66.4%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Medical Instruments Imports

Imports into Sri Lanka

In 2022, the amount of instruments used in medical sciences imported into Sri Lanka dropped to X tons, which is down by -9.2% on the year before. In general, total imports indicated resilient growth from 2012 to 2022: its volume increased at an average annual rate of +6.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +57.3% against 2018 indices. The pace of growth appeared the most rapid in 2019 when imports increased by 58% against the previous year. Imports peaked at X tons in 2021, and then shrank in the following year.

In value terms, medical instruments imports shrank to $X in 2022. Overall, total imports indicated a buoyant expansion from 2012 to 2022: its value increased at an average annual rate of +6.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +57.7% against 2018 indices. The pace of growth appeared the most rapid in 2019 when imports increased by 55%. Imports peaked at $X in 2021, and then fell in the following year.

Imports by Country

Japan (X tons), Germany (X tons) and the United States (X tons) were the main suppliers of medical instruments imports to Sri Lanka, with a combined 49% share of total imports. China, India, Switzerland, Thailand, Singapore, Taiwan (Chinese), Italy and the UK lagged somewhat behind, together comprising a further 40%.

From 2012 to 2022, the biggest increases were recorded for Thailand (with a CAGR of +52.5%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest medical instruments suppliers to Sri Lanka were Japan ($X), Germany ($X) and the United States ($X), with a combined 49% share of total imports. China, India, Switzerland, Thailand, Singapore, Taiwan (Chinese), Italy and the UK lagged somewhat behind, together comprising a further 40%.

Among the main suppliers, Thailand, with a CAGR of +51.7%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average medical instruments import price stood at $X per ton in 2022, declining by -5.9% against the previous year. Overall, the import price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when the average import price increased by 17% against the previous year. As a result, import price attained the peak level of $X per ton. From 2015 to 2022, the average import prices remained at a somewhat lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were India ($X per ton) and Japan ($X per ton), while the price for the UK ($X per ton) and Taiwan (Chinese) ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Thailand (-0.5%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for instruments used in medical sciences in the world?

South Africa constituted the country with the largest volume of medical instruments consumption, accounting for 53% of total volume. Moreover, medical instruments consumption in South Africa exceeded the figures recorded by the second-largest consumer, China, sixfold. The third position in this ranking was occupied by Mexico, with a 4.7% share.

What are the largest producers of instruments used in medical sciences in the world?

South Africa remains the largest medical instruments producing country worldwide, accounting for 55% of total volume. Moreover, medical instruments production in South Africa exceeded the figures recorded by the second-largest producer, China, fivefold. The third position in this ranking was occupied by the United States, with a 9% share.

What are the leading suppliers of instruments used in medical sciences to Sri Lanka?

In value terms, China, Germany and Japan were the largest medical instruments suppliers to Sri Lanka, together accounting for 51% of total imports.

What are the leading importers of instruments used in medical sciences from Sri Lanka?

In value terms, Singapore, the United States and the UK constituted the largest markets for medical instruments exported from Sri Lanka worldwide, together comprising 83% of total exports.

What is the average export price for instruments used in medical sciences in Sri Lanka?

The average medical instruments export price stood at $4.5 per unit in 2021, waning by -65% against the previous year.

What is the average import price for instruments used in medical sciences in Sri Lanka?

In 2021, the average medical instruments import price amounted to $2.3 per unit, picking up by 36% against the previous year.

This report provides an in-depth analysis of the medical instruments market in Sri Lanka. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Prodcom 32501333 - Instruments and apparatus for measuring blood-pressure (including sphygmomanometers, tensiometers, oscillometers)
Prodcom 32501335 - Endoscopes for medical purposes
Prodcom 32501353 - Renal dialysis equipment
Prodcom 32501355 - Diathermic apparatus (including ultrasonic)
Prodcom 32501363 - Transfusion apparatus (excluding special blood storage glass bottles)
Prodcom 32501365 - Anaesthetic apparatus and instruments
Prodcom 32501370 - Instruments and appliances used in medical, surgical or veterinary sciences, n.e.s.

Country coverage:

Sri Lanka

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Sri Lanka
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023