United Kingdom: Medical Instruments Market 2024

Medical Instruments Market Size in the UK

The UK medical instruments market shrank sharply to $X in 2022, waning by -76.2% against the previous year. Overall, consumption showed a deep contraction. As a result, consumption reached the peak level of $X. From 2020 to 2022, the growth of the market remained at a somewhat lower figure.

Medical Instruments Production in the UK

In value terms, medical instruments production contracted rapidly to $X in 2022 estimated in export price. Over the period under review, production recorded a pronounced downturn. The most prominent rate of growth was recorded in 2021 with an increase of 210% against the previous year. Over the period under review, production attained the peak level at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Medical Instruments Exports

Exports from the UK

Medical instruments exports from the UK shrank markedly to X tons in 2022, with a decrease of -17.4% compared with the previous year's figure. Overall, exports, however, posted a resilient increase. The growth pace was the most rapid in 2021 when exports increased by 108% against the previous year. As a result, the exports reached the peak of X tons, and then dropped dramatically in the following year.

In value terms, medical instruments exports contracted to $X in 2022. In general, total exports indicated a temperate increase from 2012 to 2022: its value increased at an average annual rate of +3.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +52.9% against 2016 indices. The growth pace was the most rapid in 2021 when exports increased by 52% against the previous year. As a result, the exports attained the peak of $X, and then contracted in the following year.

Exports by Country

Belgium (X tons) was the main destination for medical instruments exports from the UK, with a 47% share of total exports. Moreover, medical instruments exports to Belgium exceeded the volume sent to the second major destination, the Netherlands (X tons), fivefold. The third position in this ranking was taken by Ireland (X tons), with a 9% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Belgium stood at +28.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (+15.3% per year) and Ireland (+7.9% per year).

In value terms, the Netherlands ($X), the United States ($X) and Belgium ($X) constituted the largest markets for medical instruments exported from the UK worldwide, with a combined 53% share of total exports.

Belgium, with a CAGR of +12.0%, 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

In 2022, the average medical instruments export price amounted to $X per ton, surging by 13% against the previous year. Overall, the export price, however, showed a abrupt downturn. The pace of growth appeared the most rapid in 2020 an increase of 43% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Lithuania ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United States (+4.2%), while the prices for the other major destinations experienced mixed trend patterns.

Medical Instruments Imports

Imports into the UK

In 2022, imports of instruments used in medical sciences into the UK fell rapidly to X tons, declining by -64% compared with the year before. Over the period under review, imports recorded a pronounced contraction. The most prominent rate of growth was recorded in 2019 with an increase of 67% against the previous year. Over the period under review, imports reached the maximum at X tons in 2021, and then plummeted in the following year.

In value terms, medical instruments imports skyrocketed to $X in 2022. The total import value increased at an average annual rate of +4.2% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, Germany (X tons) constituted the largest medical instruments supplier to the UK, with a 42% share of total imports. Moreover, medical instruments imports from Germany exceeded the figures recorded by the second-largest supplier, the Netherlands (X tons), threefold. France (X tons) ranked third in terms of total imports with an 11% share.

From 2012 to 2022, the average annual growth rate of volume from Germany stood at +4.1%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (-2.0% per year) and France (-5.8% per year).

In value terms, the largest medical instruments suppliers to the UK were the Netherlands ($X), Germany ($X) and the United States ($X), with a combined 45% share of total imports. Belgium, China, Ireland, France, Italy, Pakistan and Lithuania lagged somewhat behind, together comprising a further 34%.

Ireland, with a CAGR of +21.4%, saw the highest growth rate of 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 medical instruments import price stood at $X per ton in 2022, increasing by 295% against the previous year. In general, the import price posted a buoyant increase. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per ton), while the price for France ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Ireland (+27.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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