Sri Lanka: Respiration Apparatus Market 2024

Respiration Apparatus Market Size in Sri Lanka

In 2021, the Sri Lankan respiration apparatus market increased by 8.7% to $X, rising for the second consecutive year after three years of decline. Overall, consumption recorded a buoyant expansion. As a result, consumption attained the peak level of $X. From 2017 to 2021, the growth of the market remained at a somewhat lower figure.

Respiration Apparatus Production in Sri Lanka

In value terms, respiration apparatus production stood at $X in 2021 estimated in export price. In general, production, however, saw strong growth. The pace of growth was the most pronounced in 2016 with an increase of 113% against the previous year. As a result, production reached the peak level of $X. From 2017 to 2021, production growth remained at a lower figure.

Respiration Apparatus Exports

Exports from Sri Lanka

In 2021, after two years of decline, there was significant growth in overseas shipments of ozone therapy, oxygen therapy, aerosol therapy, respiration apparatus, when their volume increased by 604% to X tons. Over the period under review, exports posted a significant increase. The pace of growth appeared the most rapid in 2018 when exports increased by 4,231% against the previous year. As a result, the exports attained the peak of X tons. From 2019 to 2021, the growth of the exports failed to regain momentum.

In value terms, respiration apparatus exports surged to $X in 2021. In general, exports saw a significant expansion. The pace of growth appeared the most rapid in 2018 when exports increased by 6,229%. As a result, the exports reached the peak of $X. From 2019 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

The United States (X tons) was the main destination for respiration apparatus exports from Sri Lanka, with a 51% share of total exports. Moreover, respiration apparatus exports to the United States exceeded the volume sent to the second major destination, the UK (X tons), twofold. Switzerland (X tons) ranked third in terms of total exports with a 21% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to the United States totaled +35.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: the UK (0.0% per year) and Switzerland (+28.7% per year).

In value terms, Switzerland ($X) remains the key foreign market for respiration apparatus exports from Sri Lanka, comprising 92% of total exports. The second position in the ranking was held by the United States ($X), with a 4.6% share of total exports. It was followed by the UK, with a 1.3% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Switzerland totaled +22.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+48.7% per year) and the UK (0.0% per year).

Export Prices by Country

In 2021, the average respiration apparatus export price amounted to $X per ton, dropping by -68.1% against the previous year. In general, the export price showed a deep reduction. The most prominent rate of growth was recorded in 2018 an increase of 46% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2019 to 2021, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major overseas markets. In 2021, the country with the highest price was Switzerland ($X per ton), while the average price for exports to the UK ($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 the United States (+9.8%), while the prices for the other major destinations experienced a decline.

Respiration Apparatus Imports

Imports into Sri Lanka

In 2021, the amount of ozone therapy, oxygen therapy, aerosol therapy, respiration apparatus imported into Sri Lanka soared to X tons, jumping by 200% against 2020 figures. Over the period under review, imports showed significant growth. The most prominent rate of growth was recorded in 2020 with an increase of 390%. Over the period under review, imports attained the maximum in 2021 and are expected to retain growth in the near future.

In value terms, respiration apparatus imports skyrocketed to $X in 2021. Overall, imports enjoyed a significant expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, China (X tons) constituted the largest respiration apparatus supplier to Sri Lanka, accounting for a 52% share of total imports. Moreover, respiration apparatus imports from China exceeded the figures recorded by the second-largest supplier, Spain (X tons), fivefold. The United States (X tons) ranked third in terms of total imports with an 8.2% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China stood at +48.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (+168.9% per year) and the United States (+37.9% per year).

In value terms, China ($X), New Zealand ($X) and the United States ($X) were the largest respiration apparatus suppliers to Sri Lanka, together comprising 50% of total imports. These countries were followed by Germany, Switzerland, Spain, France, Taiwan (Chinese), the UK, Italy, India and Singapore, which together accounted for a further 33%.

In terms of the main suppliers, Spain, with a CAGR of +128.0%, 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

In 2021, the average respiration apparatus import price amounted to $X per ton, increasing by 13% against the previous year. Over the period under review, the import price showed a mild increase. The pace of growth appeared the most rapid in 2019 when the average import price increased by 221%. As a result, import price attained the peak level of $X per ton. From 2020 to 2021, the average 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 Switzerland ($X per ton), while the price for India ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the UK (+11.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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