Global Medical Instruments Market 2024

Medical Instruments Market Size

The global medical instruments market rose to $X in 2022, growing by 4.3% against the previous year. The market value increased at an average annual rate of +4.4% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2020 with an increase of 8.6% against the previous year. Over the period under review, the global market hit record highs in 2022 and is likely to see steady growth in years to come.

Medical Instruments Production

In value terms, medical instruments production amounted to $X in 2022 estimated in export price. Over the period under review, the total production indicated a resilient expansion from 2012 to 2022: its value increased at an average annual rate of +5.3% 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 -0.0% against 2020 indices. The growth pace was the most rapid in 2013 with an increase of 16%. Over the period under review, global production hit record highs at $X in 2020; afterwards, it flattened through to 2022.

Medical Instruments Exports

Exports

In 2022, approx. X tons of instruments used in medical sciences were exported worldwide; standing approx. at the previous year's figure. Overall, total exports indicated prominent growth from 2012 to 2022: its volume increased at an average annual rate of +5.4% 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 +40.8% against 2014 indices. The growth pace was the most rapid in 2021 with an increase of 12%. Over the period under review, the global exports attained the peak figure in 2022 and are expected to retain growth in the immediate term.

In value terms, medical instruments exports expanded remarkably to $X in 2022. Over the period under review, total exports indicated a perceptible increase from 2012 to 2022: its value increased at an average annual rate of +4.7% 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 +53.8% against 2015 indices. The most prominent rate of growth was recorded in 2018 with an increase of 12% against the previous year. Over the period under review, the global exports hit record highs in 2022 and are likely to see steady growth in the near future.

Exports by Country

In 2022, Mexico (X tons), distantly followed by China (X tons), Germany (X tons) and Thailand (X tons) were the largest exporters of instruments used in medical sciences, together generating 40% of total exports. India (X tons), the United States (X tons), Italy (X tons), the Netherlands (X tons), Singapore (X tons), the UK (X tons), Slovenia (X tons), the Dominican Republic (X tons) and France (X tons) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for India (with a CAGR of +33.1%), while shipments for the other global leaders experienced more modest paces of growth.

In value terms, the United States ($X), Germany ($X) and the Netherlands ($X) were the countries with the highest levels of exports in 2022, with a combined 44% share of global exports. Mexico, China, Singapore, the UK, France, Italy, the Dominican Republic, India, Slovenia and Thailand lagged somewhat behind, together comprising a further 25%.

Among the main exporting countries, Slovenia, with a CAGR of +23.5%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average medical instruments export price amounted to $X per ton, rising by 4.8% against the previous year. Over the period under review, the export price, however, continues to indicate a relatively flat trend pattern. 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 failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+12.2%), while the other global leaders experienced more modest paces of growth.

Medical Instruments Imports

Imports

In 2022, overseas purchases of instruments used in medical sciences increased by 1.1% to X tons, rising for the seventh year in a row after two years of decline. The total import volume increased at an average annual rate of +3.6% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2019 when imports increased by 11% against the previous year. Over the period under review, global imports reached the maximum in 2022 and are likely to continue growth in the near future.

In value terms, medical instruments imports rose remarkably to $X in 2022. Overall, total imports indicated moderate growth from 2012 to 2022: its value increased at an average annual rate of +4.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +52.1% against 2015 indices. The most prominent rate of growth was recorded in 2018 when imports increased by 12%. Global imports peaked in 2022 and are likely to see steady growth in the near future.

Imports by Country

In 2022, the United States (X tons) represented the key importer of instruments used in medical sciences, making up 25% of total imports. It was distantly followed by the Netherlands (X tons) and Germany (X tons), together creating a 13% share of total imports. The following importers - Italy (X tons), Thailand (X tons), France (X tons), Austria (X tons), Singapore (X tons), the UK (X tons), Belgium (X tons), Canada (X tons), Japan (X tons) and Slovenia (X tons) - together made up 27% of total imports.

Imports into the United States increased at an average annual rate of +6.5% from 2012 to 2022. At the same time, Slovenia (+39.9%), Thailand (+39.2%), Austria (+26.0%), the Netherlands (+16.1%), Italy (+4.3%), Singapore (+3.6%), Japan (+3.2%), Germany (+2.9%), France (+2.7%) and Canada (+1.7%) displayed positive paces of growth. Moreover, Slovenia emerged as the fastest-growing importer imported in the world, with a CAGR of +39.9% from 2012-2022. Belgium experienced a relatively flat trend pattern. By contrast, the UK (-2.5%) illustrated a downward trend over the same period. The United States (+6.2 p.p.), the Netherlands (+4.4 p.p.), Thailand (+3.2 p.p.), Austria (+2.5 p.p.) and Slovenia (+1.9 p.p.) significantly strengthened its position in terms of the global imports, while the UK saw its share reduced by -2.1% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United States ($X) constitutes the largest market for imported instruments used in medical sciences worldwide, comprising 24% of global imports. The second position in the ranking was held by the Netherlands ($X), with an 8.1% share of global imports. It was followed by Germany, with a 6.2% share.

In the United States, medical instruments imports expanded at an average annual rate of +7.7% over the period from 2012-2022. In the other countries, the average annual rates were as follows: the Netherlands (+12.1% per year) and Germany (+2.4% per year).

Import Prices by Country

In 2022, the average medical instruments import price amounted to $X per ton, rising by 4% against the previous year. Over the last decade, it increased at an average annual rate of +1.3%. The growth pace was the most rapid in 2014 an increase of 11% against the previous year. Global import price peaked at $X per ton in 2018; however, from 2019 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Japan ($X per ton), while Thailand ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the UK (+6.8%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Platform

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