India: Diagnostic Equipment Market 2024

Diagnostic Equipment Market Size in India

The Indian diagnostic equipment market rose modestly to $X in 2022, picking up by X% against the previous year. In general, consumption saw a strong increase. As a result, consumption reached the peak level of $X. From 2021 to 2022, the growth of the market remained at a lower figure.

Diagnostic Equipment Production in India

In value terms, diagnostic equipment production expanded modestly to $X in 2022 estimated in export price. Over the period under review, production recorded a strong increase. The growth pace was the most rapid in 2017 when the production volume increased by X% against the previous year. Over the period under review, production hit record highs at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Diagnostic Equipment Exports

Exports from India

In 2022, exports of electro-diagnostic apparatus, and ultra-violet or infra-red ray apparatus from India expanded notably to X units, surging by X% on the previous year. Over the period under review, total exports indicated a prominent increase from 2012 to 2022: its volume 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 2017 indices. The pace of growth appeared the most rapid in 2013 with an increase of X% against the previous year. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in the immediate term.

In value terms, diagnostic equipment exports surged to $X in 2022. In general, exports posted a prominent expansion. The most prominent rate of growth was recorded in 2013 when exports increased by X% against the previous year. The exports peaked in 2022 and are expected to retain growth in the near future.

Exports by Country

The United States (X units) was the main destination for diagnostic equipment exports from India, with a X% share of total exports. Moreover, diagnostic equipment exports to the United States exceeded the volume sent to the second major destination, the Netherlands (X units), threefold. China (X units) ranked third in terms of total exports with a X% share.

From 2012 to 2022, the average annual growth rate of volume to the United States amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (X% per year) and China (X% per year).

In value terms, the United States ($X) remains the key foreign market for electro-diagnostic apparatus, and ultra-violet or infra-red ray apparatus exports from India, comprising X% of total exports. The second position in the ranking was held by Singapore ($X), with a X% share of total exports. It was followed by the Netherlands, with a X% share.

From 2012 to 2022, the average annual growth rate of value to the United States totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Singapore (X% per year) and the Netherlands (X% per year).

Export Prices by Country

The average diagnostic equipment export price stood at $X per unit in 2022, surging by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Singapore ($X per unit), while the average price for exports to Nepal ($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 France (X%), while the prices for the other major destinations experienced more modest paces of growth.

Diagnostic Equipment Imports

Imports into India

In 2022, supplies from abroad of electro-diagnostic apparatus, and ultra-violet or infra-red ray apparatus increased by X% to X units, rising for the sixth year in a row after two years of decline. In general, imports enjoyed a prominent expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, diagnostic equipment imports soared to $X in 2022. Over the period under review, imports saw a remarkable increase. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. Over the period under review, imports reached the peak figure in 2022 and are expected to retain growth in years to come.

Imports by Country

In 2022, China (X units) constituted the largest diagnostic equipment supplier to India, accounting for a X% share of total imports. Moreover, diagnostic equipment imports from China exceeded the figures recorded by the second-largest supplier, the United States (X units), twofold. The third position in this ranking was held by Hong Kong SAR (X units), with a X% share.

From 2012 to 2022, the average annual growth rate of volume from China totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (X% per year) and Hong Kong SAR (X% per year).

In value terms, the largest diagnostic equipment suppliers to India were China ($X), the United States ($X) and South Korea ($X), with a combined X% share of total imports. Hong Kong SAR, Germany, the Netherlands, Singapore, Japan, Israel and Italy lagged somewhat behind, together accounting for a further X%.

Hong Kong SAR, with a CAGR of X%, recorded 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

In 2022, the average diagnostic equipment import price amounted to $X per unit, which is down by X% against the previous year. Over the period under review, the import price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when the average import price increased by X% against the previous year. Over the period under review, average import prices hit record highs at $X per unit in 2018; however, from 2019 to 2022, import prices failed to regain momentum.

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

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

Source: IndexBox Platform

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