Belgium: Pacemaker Market 2024

Pacemaker Market Size in Belgium

In 2022, the Belgian pacemaker market increased by X% to $X for the first time since 2019, thus ending a two-year declining trend. Over the period under review, consumption saw a deep setback. Pacemaker consumption peaked at $X in 2016; however, from 2017 to 2022, consumption stood at a somewhat lower figure.

Pacemaker Production in Belgium

In value terms, pacemaker production skyrocketed to $X in 2022 estimated in export price. Overall, production showed a strong increase. The most prominent rate of growth was recorded in 2014 when the production volume increased by X%. As a result, production reached the peak level of $X. From 2015 to 2022, production growth remained at a somewhat lower figure.

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Pacemaker Exports

Exports from Belgium

In 2022, overseas shipments of pacemakers for stimulating heart muscles (excl. parts and accessories) increased by X% to X units for the first time since 2019, thus ending a two-year declining trend. Overall, exports showed a significant expansion. The most prominent rate of growth was recorded in 2013 with an increase of X% against the previous year. The exports peaked at X units in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

In value terms, pacemaker exports shrank to $X in 2022. In general, exports saw a significant increase. The most prominent rate of growth was recorded in 2013 with an increase of X% against the previous year. The exports peaked at $X in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

Exports by Country

China (X units), Germany (X units) and Italy (X units) were the main destinations of pacemaker exports from Belgium, with a combined X% share of total exports. France, the UK, Japan, Serbia, Spain, Iran, Canada, Poland, Mexico and Russia lagged somewhat behind, together comprising a further X%.

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

In value terms, France ($X), Japan ($X) and Italy ($X) constituted the largest markets for pacemaker exported from Belgium worldwide, together comprising X% of total exports. China, the UK, Germany, Spain, Canada, Iran, Poland, Mexico, Russia and Serbia lagged somewhat behind, together comprising a further X%.

Mexico, with a CAGR of X%, recorded the highest growth rate of the value of exports, among 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 pacemaker export price amounted to $X per unit, falling by X% against the previous year. In general, the export price, however, saw a buoyant increase. The pace of growth appeared the most rapid in 2020 when the average export price increased by X%. Over the period under review, the average export prices reached the peak figure at $X per unit in 2021, and then contracted in the following year.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Japan ($X per unit), while the average price for exports to Serbia ($X per unit) was amongst the lowest.

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

Pacemaker Imports

Imports into Belgium

In 2022, supplies from abroad of pacemakers for stimulating heart muscles (excl. parts and accessories) decreased by X% to X units, falling for the third consecutive year after two years of growth. In general, imports, however, recorded a buoyant increase. The pace of growth appeared the most rapid in 2013 with an increase of X% against the previous year. Over the period under review, imports hit record highs at X units in 2019; however, from 2020 to 2022, imports failed to regain momentum.

In value terms, pacemaker imports rose modestly to $X in 2022. Overall, imports, however, saw significant growth. The pace of growth appeared the most rapid in 2013 when imports increased by X%. Imports peaked at $X in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Malaysia (X units), the United States (X units) and the Netherlands (X units) were the main suppliers of pacemaker imports to Belgium, with a combined X% share of total imports.

From 2012 to 2022, the biggest increases were recorded for the United States (with a CAGR of X%), while purchases for the other leaders experienced a decline.

In value terms, Malaysia ($X), the United States ($X) and the Netherlands ($X) appeared to be the largest pacemaker suppliers to Belgium, with a combined X% share of total imports.

The United States, with a CAGR of X%, recorded the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average pacemaker import price amounted to $X per unit, rising by X% against the previous year. Over the period under review, the import price enjoyed strong growth. The most prominent rate of growth was recorded in 2020 an increase of X%. Over the period under review, average import prices reached the peak figure in 2022 and is expected to retain growth in years to come.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the Netherlands ($X per unit), while the price for Malaysia ($X per unit) was amongst the lowest.

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

Source: IndexBox Platform

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