U.S.: Diagnostic Equipment Market 2024

Diagnostic Equipment Market Size in the U.S.

The U.S. diagnostic equipment market soared to $X in 2021, with an increase of 19% against the previous year. Overall, consumption, however, continues to indicate a mild reduction. Diagnostic equipment consumption peaked at $X in 2013; however, from 2014 to 2021, consumption stood at a somewhat lower figure.

Diagnostic Equipment Production in the U.S.

In value terms, diagnostic equipment production totaled $X in 2021. In general, production, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 with an increase of 2.2% against the previous year. Diagnostic equipment production peaked at $X in 2013; however, from 2014 to 2021, production failed to regain momentum.

Diagnostic Equipment Exports

Exports from the U.S.

In 2021, the amount of electro-diagnostic apparatus, and ultra-violet or infra-red ray apparatus exported from the United States contracted slightly to X units, approximately mirroring the year before. Overall, exports continue to indicate a deep downturn. The growth pace was the most rapid in 2019 when exports increased by 15% against the previous year. The exports peaked at X units in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, diagnostic equipment exports expanded sharply to $X in 2021. Over the period under review, exports, however, recorded a relatively flat trend pattern. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

China (X units), Germany (X units) and the Netherlands (X units) were the main destinations of diagnostic equipment exports from the United States.

From 2012 to 2021, the biggest increases were recorded for Belgium (with a CAGR of +31.5%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, China ($X), Germany ($X) and the Netherlands ($X) constituted the largest markets for diagnostic equipment exported from the United States worldwide, with a combined 38% share of total exports. These countries were followed by Canada, Japan, France, Singapore, Mexico, Australia, the UK, India, Brazil and Belgium, which together accounted for a further 38%.

France, with a CAGR of +5.1%, recorded the highest growth rate of 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

In 2021, the average diagnostic equipment export price amounted to $X per unit, with an increase of 8.4% against the previous year. Over the period under review, the export price recorded a buoyant increase. The growth pace was the most rapid in 2020 when the average export price increased by 116%. Over the period under review, the average export prices hit record highs in 2021 and is likely to see steady growth in the immediate term.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Japan (-4.0%), while the prices for the other major destinations experienced a decline.

Diagnostic Equipment Imports

Imports into the U.S.

In 2021, the amount of electro-diagnostic apparatus, and ultra-violet or infra-red ray apparatus imported into the United States skyrocketed to X units, rising by 26% compared with the year before. The total import volume increased at an average annual rate of +1.9% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Imports peaked at X units in 2017; however, from 2018 to 2021, imports failed to regain momentum.

In value terms, diagnostic equipment imports skyrocketed to $X in 2021. The total import value increased at an average annual rate of +3.7% from 2012 to 2021; however, the trend pattern remained relatively stable, with only minor fluctuations in certain years. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Japan (X units), Mexico (X units) and Germany (X units) were the main suppliers of diagnostic equipment imports to the United States, with a combined 90% share of total imports. These countries were followed by China, Switzerland, Costa Rica, Singapore, Canada, South Korea, Ireland, the Dominican Republic, Malaysia and Israel, which together accounted for a further 64%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Switzerland (with a CAGR of +32.2%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest diagnostic equipment suppliers to the United States were Germany ($X), Japan ($X) and Mexico ($X), together accounting for 50% of total imports. These countries were followed by China, Costa Rica, Singapore, Ireland, South Korea, Canada, the Dominican Republic, Malaysia, Israel and Switzerland, which together accounted for a further 36%.

Ireland, with a CAGR of +27.6%, saw the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average diagnostic equipment import price stood at $X per unit in 2021, shrinking by -8.2% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.8%. The pace of growth appeared the most rapid in 2018 an increase of 33%. The import price peaked at $X per unit in 2020, and then shrank in the following year.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Germany ($X per unit), while the price for Switzerland ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Israel (+0.4%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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