Sri Lanka: X-Ray Apparatus Market 2024

X-Ray Apparatus Market Size in Sri Lanka

The Sri Lankan x-ray apparatus market dropped remarkably to $X in 2022, with a decrease of -21.5% 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). Overall, consumption, however, saw a moderate increase. As a result, consumption attained the peak level of $X. From 2020 to 2022, the growth of the market remained at a lower figure.

X-Ray Apparatus Exports

Exports from Sri Lanka

X-ray apparatus exports from Sri Lanka dropped dramatically to X units in 2022, waning by -50% on the year before. Over the period under review, exports, however, posted a resilient increase. The growth pace was the most rapid in 2017 with an increase of 200% against the previous year. The exports peaked at X units in 2021, and then reduced markedly in the following year.

In value terms, x-ray apparatus exports contracted remarkably to $X in 2022. In general, exports, however, continue to indicate resilient growth. The most prominent rate of growth was recorded in 2017 when exports increased by 486% against the previous year. Over the period under review, the exports reached the maximum at $X in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

Exports by Country

Japan (X units), Maldives (X units) and Singapore (X units) were the main destinations of x-ray apparatus exports from Sri Lanka.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Maldives (with a CAGR of +7.2%), while the other leaders experienced mixed trend patterns.

In value terms, Japan ($X) emerged as the key foreign market for x-ray apparatus exports from Sri Lanka, comprising 76% of total exports. The second position in the ranking was taken by Singapore ($X), with an 11% share of total exports. It was followed by India, with a 9.8% share.

From 2012 to 2022, the average annual growth rate of value to Japan stood at +16.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Singapore (-5.1% per year) and India (-5.8% per year).

Export Prices by Country

The average x-ray apparatus export price stood at $X per unit in 2022, increasing by 54% against the previous year. Over the period under review, the export price, however, recorded a deep slump. The most prominent rate of growth was recorded in 2018 when the average export price increased by 430%. As a result, the export price attained the peak level of $X per unit. From 2019 to 2022, the average export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Japan ($X per unit), while the average price for exports to Maldives ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Singapore (+375.9%), while the prices for the other major destinations experienced mixed trend patterns.

X-Ray Apparatus Imports

Imports into Sri Lanka

In 2022, the amount of x-ray apparatus imported into Sri Lanka reduced rapidly to X units, which is down by -32% against the previous year. In general, imports, however, showed a slight increase. The pace of growth was the most pronounced in 2021 when imports increased by 177% against the previous year. Imports peaked at X units in 2019; however, from 2020 to 2022, imports remained at a lower figure.

In value terms, x-ray apparatus imports declined significantly to $X in 2022. Overall, imports, however, recorded a prominent expansion. The most prominent rate of growth was recorded in 2019 with an increase of 132% against the previous year. As a result, imports attained the peak of $X. From 2020 to 2022, the growth of imports failed to regain momentum.

Imports by Country

In 2022, China (X units) constituted the largest x-ray apparatus supplier to Sri Lanka, with a 41% share of total imports. Moreover, x-ray apparatus imports from China exceeded the figures recorded by the second-largest supplier, South Korea (X units), twofold. The third position in this ranking was taken by Japan (X units), with a 15% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China totaled +15.6%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (+32.0% per year) and Japan (-9.3% per year).

In value terms, the largest x-ray apparatus suppliers to Sri Lanka were Japan ($X), China ($X) and the Netherlands ($X), together accounting for 80% of total imports. The United States, the UK, South Korea, Malaysia, Germany, India and Belgium lagged somewhat behind, together accounting for a further 17%.

Among the main suppliers, the UK, with a CAGR of +37.9%, saw 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

In 2022, the average x-ray apparatus import price amounted to $X per unit, growing by 21% against the previous year. Overall, import price indicated a perceptible increase from 2012 to 2022: its price increased at an average annual rate of +4.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, x-ray apparatus import price decreased by -14.1% against 2020 indices. The growth pace was the most rapid in 2020 when the average import price increased by 40% against the previous year. As a result, import price reached the peak level of $X per unit. From 2021 to 2022, the average import prices remained at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the UK ($X per unit), while the price for Belgium ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the UK (+82.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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