Kuwait: Medical Instruments Market 2024

Medical Instruments Market Size in Kuwait

The Kuwaiti medical instruments market skyrocketed to $X in 2022, jumping by 29% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, the total consumption indicated strong growth from 2012 to 2022: its value increased at an average annual rate of +6.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -18.2% against 2020 indices. Medical instruments consumption peaked at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Medical Instruments Exports

Exports from Kuwait

In 2022, overseas shipments of instruments used in medical sciences decreased by 0% to X tons, falling for the fourth consecutive year after three years of growth. Over the period under review, exports saw a precipitous slump. The most prominent rate of growth was recorded in 2016 with an increase of 463% against the previous year. Over the period under review, the exports attained the maximum at X tons in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

In value terms, medical instruments exports stood at $X in 2022. In general, exports saw a dramatic descent. The pace of growth was the most pronounced in 2016 when exports increased by 257% against the previous year. Over the period under review, the exports hit record highs at $X in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

Exports by Country

Senegal (X kg) was the main destination for medical instruments exports from Kuwait, with a 47% share of total exports. Moreover, medical instruments exports to Senegal exceeded the volume sent to the second major destination, Nigeria (X kg), threefold. The third position in this ranking was held by the Netherlands (X kg), with a 6.4% share.

From 2013 to 2022, the average annual rate of growth in terms of volume to Senegal amounted to +12.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Nigeria (-18.6% per year) and the Netherlands (-14.0% per year).

It was followed by Germany, with a 10% share.

From 2013 to 2022, the average annual rate of growth in terms of value to the Netherlands stood at +16.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Saudi Arabia (-23.8% per year) and Germany (-26.0% per year).

Export Prices by Country

The average medical instruments export price stood at $X per ton in 2022, almost unchanged from the previous year. Overall, the export price saw a resilient expansion. The most prominent rate of growth was recorded in 2020 an increase of 82%. The export price peaked in 2022 and is likely to continue growth in the near future.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was France ($X per ton), while the average price for exports to Hungary ($X per ton) was amongst the lowest.

From 2013 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the Netherlands (+35.3%), while the prices for the other major destinations experienced more modest paces of growth.

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Medical Instruments Imports

Imports into Kuwait

Medical instruments imports into Kuwait soared to X tons in 2022, surging by 31% on the year before. Overall, total imports indicated a strong expansion from 2012 to 2022: its volume increased at an average annual rate of +7.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -19.0% against 2020 indices. The growth pace was the most rapid in 2016 when imports increased by 31% against the previous year. Imports peaked at X tons in 2020; however, from 2021 to 2022, imports remained at a lower figure.

In value terms, medical instruments imports surged to $X in 2022. Over the period under review, total imports indicated a strong expansion from 2012 to 2022: its value increased at an average annual rate of +6.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -17.9% against 2020 indices. The pace of growth appeared the most rapid in 2016 with an increase of 49% against the previous year. Over the period under review, imports reached the maximum at $X in 2020; however, from 2021 to 2022, imports failed to regain momentum.

Imports by Country

Italy (X tons), Mexico (X tons) and the United States (X tons) were the main suppliers of medical instruments imports to Kuwait, with a combined 55% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Italy (with a CAGR of +39.8%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest medical instruments suppliers to Kuwait were the United States ($X), Germany ($X) and Mexico ($X), with a combined 60% share of total imports. France, Italy, China, the UK, Vietnam, Turkey, South Africa and Saudi Arabia lagged somewhat behind, together accounting for a further 19%.

In terms of the main suppliers, China, with a CAGR of +29.7%, recorded 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 average medical instruments import price amounted to $X per ton, falling by -2.1% against the previous year. Overall, the import price recorded a mild decline. The most prominent rate of growth was recorded in 2018 when the average import price increased by 25%. Over the period under review, average import prices hit record highs at $X per ton in 2013; however, from 2014 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Germany ($X per ton), while the price for Saudi Arabia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Africa (+129.2%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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