Sri Lanka: Ophthalmic Instruments Market 2024

Ophthalmic Instruments Market Size in Sri Lanka

In 2021, the Sri Lankan ophthalmic instruments market was finally on the rise to reach $X for the first time since 2018, thus ending a two-year declining trend. Overall, the total consumption indicated a noticeable expansion from 2012 to 2021: its value increased at an average annual rate of +3.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption reached the peak level of $X. From 2019 to 2021, the growth of the market failed to regain momentum.

Ophthalmic Instruments Exports

Exports from Sri Lanka

In 2021, shipments abroad of ophthalmic instruments and appliances increased by 63% to X kg, rising for the second year in a row after three years of decline. Overall, exports saw a modest expansion. The most prominent rate of growth was recorded in 2015 when exports increased by 1,952%. The exports peaked at X kg in 2016; however, from 2017 to 2021, the exports failed to regain momentum.

In value terms, ophthalmic instruments exports skyrocketed to $X in 2021. Over the period under review, exports, however, showed a deep contraction. The most prominent rate of growth was recorded in 2015 when exports increased by 1,044%. The exports peaked at $X in 2016; however, from 2017 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Pakistan (X kg) was the main destination for ophthalmic instruments exports from Sri Lanka, with a 56% share of total exports. Moreover, ophthalmic instruments exports to Pakistan exceeded the volume sent to the second major destination, Singapore (X kg), threefold. Australia (X kg) ranked third in terms of total exports with a 12% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Pakistan totaled +49.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Singapore (+24.5% per year) and Australia (-4.7% per year).

In value terms, Pakistan ($X), Singapore ($X) and Australia ($X) appeared to be the largest markets for ophthalmic instruments exported from Sri Lanka worldwide, with a combined 79% share of total exports. These countries were followed by Maldives, Germany, Switzerland, Seychelles and India, which together accounted for a further 20%.

Among the main countries of destination, Switzerland, with a CAGR of +44.6%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average ophthalmic instruments export price amounted to $X per ton, leveling off at the previous year. Overall, the export price faced a deep contraction. The growth pace was the most rapid in 2017 an increase of 89% against the previous year. The export price peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

Prices varied noticeably country of destination: the country with the highest price was Germany ($X per ton), while the average price for exports to Seychelles ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Maldives (+10.8%), while the prices for the other major destinations experienced more modest paces of growth.

Ophthalmic Instruments Imports

Imports into Sri Lanka

In 2021, imports of ophthalmic instruments and appliances into Sri Lanka rose to X tons, picking up by 3% on the previous year. Overall, imports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 with an increase of 59%. As a result, imports reached the peak of X tons. From 2017 to 2021, the growth of imports failed to regain momentum.

In value terms, ophthalmic instruments imports skyrocketed to $X in 2021. Over the period under review, imports showed a tangible increase. The most prominent rate of growth was recorded in 2018 when imports increased by 67%. As a result, imports reached the peak of $X. From 2019 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

The United States (X tons), India (X tons) and Japan (X tons) were the main suppliers of ophthalmic instruments imports to Sri Lanka, with a combined 58% share of total imports. China, Singapore, the UK, Germany and Hong Kong SAR lagged somewhat behind, together accounting for a further 22%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by China (with a CAGR of +29.6%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest ophthalmic instruments suppliers to Sri Lanka were the United States ($X), Singapore ($X) and Japan ($X), together accounting for 47% of total imports. These countries were followed by Germany, the UK, India, China and Hong Kong SAR, which together accounted for a further 18%.

Among the main suppliers, China, with a CAGR of +42.1%, recorded the highest rates of growth with regard to 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 ophthalmic instruments import price stood at $X per ton in 2021, picking up by 31% against the previous year. In general, import price indicated moderate growth 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, ophthalmic instruments import price decreased by -9.4% against 2019 indices. Over the period under review, average import prices attained the peak figure at $X per ton in 2019; however, from 2020 to 2021, import prices remained at a lower figure.

Prices varied noticeably country of origin: the country with the highest price was Singapore ($X per ton), while the price for India ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Singapore (+22.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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