Thailand: Syringe Market 2024

Syringe Market Size in Thailand

The Thai syringe market contracted to $X in 2022, approximately reflecting the previous year. Overall, consumption, however, recorded a resilient 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.

Syringe Production in Thailand

In value terms, syringe production surged to $X in 2022 estimated in export price. Overall, the total production indicated resilient growth 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, production decreased by -16.0% against 2019 indices. The most prominent rate of growth was recorded in 2019 when the production volume increased by 73% against the previous year. As a result, production reached the peak level of $X. From 2020 to 2022, production growth failed to regain momentum.

Syringe Exports

Exports from Thailand

For the third consecutive year, Thailand recorded growth in shipments abroad of syringes, with or without needles, which increased by 17% to X units in 2022. In general, exports, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when exports increased by 125%. Over the period under review, the exports hit record highs at X units in 2015; however, from 2016 to 2022, the exports failed to regain momentum.

In value terms, syringe exports soared to $X in 2022. Over the period under review, exports posted a resilient expansion. The pace of growth was the most pronounced in 2021 when exports increased by 52% against the previous year. The exports peaked at $X in 2015; however, from 2016 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

The United States (X units), Japan (X units) and Taiwan (Chinese) (X units) were the main destinations of syringe exports from Thailand, together comprising 93% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Japan (with a CAGR of +22.7%), while the other leaders experienced mixed trend patterns.

In value terms, the United States ($X) remains the key foreign market for syringes, with or without needles exports from Thailand, comprising 60% of total exports. The second position in the ranking was taken by Japan ($X), with a 25% share of total exports. It was followed by Lao People's Democratic Republic, with a 1.7% share.

From 2012 to 2022, the average annual growth rate of value to the United States amounted to +8.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (+16.6% per year) and Lao People's Democratic Republic (+5.9% per year).

Export Prices by Country

In 2022, the average syringe export price amounted to $X per thousand units, rising by 25% against the previous year. Over the period under review, export price indicated a prominent increase from 2012 to 2022: its price increased at an average annual rate of +5.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, syringe export price decreased by -20.3% against 2019 indices. The most prominent rate of growth was recorded in 2019 an increase of 51%. As a result, the export price attained the peak level of $X per thousand units. From 2020 to 2022, the average export prices remained at a lower figure.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Singapore ($X per thousand units), while the average price for exports to Taiwan (Chinese) ($X per thousand units) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Singapore (+61.8%), while the prices for the other major destinations experienced more modest paces of growth.

Syringe Imports

Imports into Thailand

After two years of growth, purchases abroad of syringes, with or without needles decreased by -26% to X units in 2022. In general, imports, however, recorded a buoyant expansion. The most prominent rate of growth was recorded in 2021 with an increase of 182% against the previous year. As a result, imports attained the peak of X units, and then contracted notably in the following year.

In value terms, syringe imports fell rapidly to $X in 2022. Over the period under review, imports, however, recorded a buoyant expansion. The most prominent rate of growth was recorded in 2021 with an increase of 57%. As a result, imports reached the peak of $X, and then dropped markedly in the following year.

Imports by Country

In 2022, Japan (X units) constituted the largest supplier of syringe to Thailand, with a 44% share of total imports. Moreover, syringe imports from Japan exceeded the figures recorded by the second-largest supplier, China (X units), threefold. The third position in this ranking was taken by France (X units), with an 11% share.

From 2012 to 2022, the average annual growth rate of volume from Japan amounted to +17.9%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+33.9% per year) and France (+60.2% per year).

In value terms, China ($X) constituted the largest supplier of syringes, with or without needles to Thailand, comprising 46% of total imports. The second position in the ranking was held by the United States ($X), with a 12% share of total imports. It was followed by the Philippines, with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China totaled +47.7%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+6.3% per year) and the Philippines (-7.5% per year).

Import Prices by Country

The average syringe import price stood at $X per unit in 2022, picking up by 13% against the previous year. Overall, the import price, however, showed a slight decrease. The most prominent rate of growth was recorded in 2017 an increase of 36% against the previous year. The import price peaked at $X per unit in 2019; however, from 2020 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the Philippines ($X per unit), while the price for France (less than $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 Philippines (+10.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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