Hungary: Medical Instruments Market 2024

Medical Instruments Market Size in Hungary

The Hungarian medical instruments market dropped dramatically to $X in 2022, with a decrease of -35.1% against the previous year. Over the period under review, consumption continues to indicate a noticeable reduction. Over the period under review, the market hit record highs at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Medical Instruments Production in Hungary

In value terms, medical instruments production shrank to $X in 2022 estimated in export price. Over the period under review, the total production indicated notable growth from 2012 to 2022: its value increased at an average annual rate of +2.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +5.8% against 2020 indices. The pace of growth was the most pronounced in 2014 when the production volume increased by 26%. Over the period under review, production hit record highs at $X in 2018; however, from 2019 to 2022, production stood at a somewhat lower figure.

Medical Instruments Exports

Exports from Hungary

For the third consecutive year, Hungary recorded growth in shipments abroad of instruments used in medical sciences, which increased by 22% to X tons in 2022. Over the period under review, exports showed strong growth. The growth pace was the most rapid in 2015 when exports increased by 37% against the previous year. Over the period under review, the exports hit record highs in 2022 and are likely to see gradual growth in the near future.

In value terms, medical instruments exports contracted modestly to $X in 2022. In general, exports enjoyed a resilient expansion. The pace of growth was the most pronounced in 2016 with an increase of 17% against the previous year. Over the period under review, the exports attained the maximum at $X in 2021, and then dropped modestly in the following year.

Exports by Country

Germany (X tons) was the main destination for medical instruments exports from Hungary, accounting for a 86% share of total exports. Moreover, medical instruments exports to Germany exceeded the volume sent to the second major destination, France (X tons), more than tenfold. The third position in this ranking was taken by Italy (X tons), with a 2.6% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Germany totaled +8.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: France (+7.4% per year) and Italy (+98.0% per year).

In value terms, Germany ($X) remains the key foreign market for instruments used in medical sciences exports from Hungary, comprising 54% of total exports. The second position in the ranking was held by Slovenia ($X), with an 11% share of total exports. It was followed by Italy, with a 4.4% share.

From 2012 to 2022, the average annual growth rate of value to Germany stood at +8.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Slovenia (+108.2% per year) and Italy (+70.1% per year).

Export Prices by Country

In 2022, the average medical instruments export price amounted to $X per ton, falling by -18.7% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.3%. The growth pace was the most rapid in 2014 an increase of 35% against the previous year. Over the period under review, the average export prices reached the maximum at $X per ton in 2019; however, from 2020 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Slovenia ($X per ton), while the average price for exports to Germany ($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 Slovenia (+8.8%), while the prices for the other major destinations experienced mixed trend patterns.

Medical Instruments Imports

Imports into Hungary

Medical instruments imports into Hungary rose significantly to X tons in 2022, growing by 9.7% on the previous year. In general, imports saw a remarkable increase. The growth pace was the most rapid in 2016 with an increase of 81% against the previous year. Over the period under review, imports reached the maximum at X tons in 2020; however, from 2021 to 2022, imports remained at a lower figure.

In value terms, medical instruments imports shrank to $X in 2022. Overall, imports enjoyed a strong increase. The growth pace was the most rapid in 2020 when imports increased by 83% against the previous year. As a result, imports reached the peak of $X. From 2021 to 2022, the growth of imports remained at a lower figure.

Imports by Country

In 2022, Germany (X tons) constituted the largest medical instruments supplier to Hungary, with a 74% share of total imports. Moreover, medical instruments imports from Germany exceeded the figures recorded by the second-largest supplier, China (X tons), more than tenfold. The third position in this ranking was taken by Italy (X tons), with a 4.3% share.

From 2012 to 2022, the average annual growth rate of volume from Germany totaled +20.5%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+31.5% per year) and Italy (-2.5% per year).

In value terms, Germany ($X) constituted the largest supplier of instruments used in medical sciences to Hungary, comprising 31% of total imports. The second position in the ranking was held by China ($X), with a 14% share of total imports. It was followed by the Netherlands, with an 8.8% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Germany stood at +4.5%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+30.4% per year) and the Netherlands (+11.4% per year).

Import Prices by Country

The average medical instruments import price stood at $X per ton in 2022, declining by -20% against the previous year. Overall, the import price recorded a abrupt descent. The most prominent rate of growth was recorded in 2014 when the average import price increased by 64% against the previous year. As a result, import price attained the peak level of $X per ton. From 2015 to 2022, the average import prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the Netherlands ($X per ton), while the price for Slovakia ($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 Netherlands (+12.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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