Eastern Asia: Medical Furniture Market 2024

Medical Furniture Market Size in Eastern Asia

For the third consecutive year, the East Asian medical furniture market recorded growth in sales value, which increased by X% to $X in 2022. The market value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern remained relatively stable, with only minor fluctuations throughout the analyzed period. Over the period under review, the market reached the peak level in 2022 and is expected to retain growth in the immediate term.

Medical Furniture Production in Eastern Asia

In value terms, medical furniture production amounted to $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations in certain years. The growth pace was the most rapid in 2014 when the production volume increased by X%. Over the period under review, production attained the maximum level at $X in 2018; afterwards, it flattened through to 2022.

Medical Furniture Exports

Exports in Eastern Asia

In 2022, overseas shipments of medical, surgical or veterinary furniture decreased by X% to X units, falling for the third consecutive year after three years of growth. Overall, exports recorded a mild contraction. The pace of growth was the most pronounced in 2019 when exports increased by X% against the previous year. As a result, the exports reached the peak of X units. From 2020 to 2022, the growth of the exports failed to regain momentum.

In value terms, medical furniture exports amounted to $X in 2022. Total exports indicated a strong expansion from 2012 to 2022: its value increased at an average annual rate of X% 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 X% against 2016 indices. The pace of growth appeared the most rapid in 2020 with an increase of X%. The level of export peaked in 2022 and is likely to see steady growth in years to come.

Exports by Country

In 2022, China (X units) was the key exporter of medical, surgical or veterinary furniture, making up X% of total exports. It was distantly followed by Taiwan (Chinese) (X units), making up a X% share of total exports.

Exports from China decreased at an average annual rate of X% from 2012 to 2022. At the same time, Taiwan (Chinese) (X%) displayed positive paces of growth. Moreover, Taiwan (Chinese) emerged as the fastest-growing exporter exported in Eastern Asia, with a CAGR of X% from 2012-2022. Taiwan (Chinese) (X p.p.) significantly strengthened its position in terms of the total exports, while China saw its share reduced by X% from 2012 to 2022, respectively.

In value terms, China ($X) remains the largest medical furniture supplier in Eastern Asia, comprising X% of total exports. The second position in the ranking was taken by Taiwan (Chinese) ($X), with an X% share of total exports.

In China, medical furniture exports increased at an average annual rate of X% over the period from 2012-2022.

Export Prices by Country

The export price in Eastern Asia stood at $X per unit in 2022, rising by X% against the previous year. In general, the export price posted a buoyant expansion. The most prominent rate of growth was recorded in 2020 an increase of X% against the previous year. The level of export peaked in 2022 and is expected to retain growth in years to come.

Average prices varied somewhat amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Taiwan (Chinese) ($X per unit), while China stood at $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (X%).

Medical Furniture Imports

Imports in Eastern Asia

In 2022, overseas purchases of medical, surgical or veterinary furniture decreased by X% to X units, falling for the second year in a row after four years of growth. In general, imports recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 with an increase of X% against the previous year. As a result, imports attained the peak of X units. From 2015 to 2022, the growth of imports remained at a lower figure.

In value terms, medical furniture imports fell to $X in 2022. Overall, imports continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 when imports increased by X% against the previous year. Over the period under review, imports reached the peak figure at $X in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

Imports by Country

The purchases of the four major importers of medical, surgical or veterinary furniture, namely China, South Korea, Japan and Hong Kong SAR, represented more than two-thirds of total import. It was distantly followed by Taiwan (Chinese) (X units), committing a X% share of total imports.

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

In value terms, the largest medical furniture importing markets in Eastern Asia were China ($X), Japan ($X) and Hong Kong SAR ($X), together comprising X% of total imports. South Korea and Taiwan (Chinese) lagged somewhat behind, together comprising a further X%.

In terms of the main importing countries, South Korea, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in Eastern Asia amounted to $X per unit, surging by X% against the previous year. Over the period under review, the import price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 an increase of X%. As a result, import price attained the peak level of $X per unit. From 2019 to 2022, the import prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was China ($X per unit), while South Korea ($X per unit) was amongst the lowest.

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

Source: IndexBox Platform

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