Thailand: Ophthalmic Instruments Market 2024

Ophthalmic Instruments Market Size in Thailand

The Thai ophthalmic instruments market shrank to $X in 2021, reducing by -7.4% 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). The market value increased at an average annual rate of +2.2% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Ophthalmic instruments consumption peaked at $X in 2020, and then contracted in the following year.

Ophthalmic Instruments Exports

Exports from Thailand

In 2021, approx. X tons of ophthalmic instruments and appliances were exported from Thailand; jumping by 38% on the year before. In general, exports saw a resilient expansion. The most prominent rate of growth was recorded in 2015 with an increase of 123% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2019; however, from 2020 to 2021, the exports stood at a somewhat lower figure.

In value terms, ophthalmic instruments exports surged to $X in 2021. Over the period under review, exports showed a buoyant expansion. The pace of growth appeared the most rapid in 2015 with an increase of 99% against the previous year. The exports peaked at $X in 2019; however, from 2020 to 2021, the exports failed to regain momentum.

Exports by Country

Japan (X tons) was the main destination for ophthalmic instruments exports from Thailand, accounting for a 50% share of total exports. Moreover, ophthalmic instruments exports to Japan exceeded the volume sent to the second major destination, Germany (X tons), threefold. Canada (X kg) ranked third in terms of total exports with a 7.5% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Japan amounted to +15.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+11.3% per year) and Canada (+134.6% per year).

In value terms, the largest markets for ophthalmic instruments exported from Thailand were Germany ($X), Japan ($X) and Australia ($X), with a combined 72% share of total exports. Canada, France, Italy, Lao People's Democratic Republic and Singapore lagged somewhat behind, together comprising a further 17%.

Canada, with a CAGR of +62.4%, saw the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average ophthalmic instruments export price stood at $X per ton in 2021, dropping by -8.8% against the previous year. In general, the export price saw a noticeable slump. The pace of growth was the most pronounced in 2017 an increase of 32% against the previous year. The export price peaked at $X per ton in 2014; however, from 2015 to 2021, the export prices failed to regain momentum.

Prices varied noticeably country of destination: the country with the highest price was Australia ($X per ton), while the average price for exports to Lao People's Democratic Republic ($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 Oman (+42.1%), while the prices for the other major destinations experienced more modest paces of growth.

Ophthalmic Instruments Imports

Imports into Thailand

In 2021, ophthalmic instruments imports into Thailand fell remarkably to X tons, shrinking by -16.7% on 2020 figures. In general, imports, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 with an increase of 45% against the previous year. As a result, imports attained the peak of X tons. From 2019 to 2021, the growth of imports remained at a lower figure.

In value terms, ophthalmic instruments imports reduced slightly to $X in 2021. Overall, total imports indicated a perceptible expansion from 2012 to 2021: its value increased at an average annual rate of +3.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +55.3% against 2015 indices. The pace of growth appeared the most rapid in 2018 with an increase of 36%. Over the period under review, imports hit record highs at $X in 2020, and then shrank slightly in the following year.

Imports by Country

In 2021, the United States (X tons) constituted the largest supplier of ophthalmic instruments to Thailand, with a 45% share of total imports. Moreover, ophthalmic instruments imports from the United States exceeded the figures recorded by the second-largest supplier, Germany (X tons), twofold. The third position in this ranking was taken by Japan (X tons), with a 9.4% share.

From 2012 to 2021, the average annual growth rate of volume from the United States stood at -1.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+6.3% per year) and Japan (-4.7% per year).

In value terms, the largest ophthalmic instruments suppliers to Thailand were Germany ($X), the United States ($X) and Japan ($X), together comprising 68% of total imports. Singapore, Switzerland, Italy and China lagged somewhat behind, together comprising a further 16%.

Among the main suppliers, Singapore, with a CAGR of +46.2%, 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 2021, the average ophthalmic instruments import price amounted to $X per ton, picking up by 17% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +2.5%. The pace of growth was the most pronounced in 2019 an increase of 27%. The import price peaked in 2021 and is expected to retain growth in years to come.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+13.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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