Latin America and the Caribbean: Diagnostic Equipment Market 2024

Diagnostic Equipment Market Size in Latin America and the Caribbean

The Latin American diagnostic equipment market rose slightly to $X in 2022, picking up by X% against the previous year. The market value increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being recorded in certain years. As a result, consumption reached the peak level of $X. From 2021 to 2022, the growth of the market remained at a somewhat lower figure.

Diagnostic Equipment Production in Latin America and the Caribbean

In value terms, diagnostic equipment production rose remarkably to $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2020 when the production volume increased by X% against the previous year. As a result, production attained the peak level of $X. From 2021 to 2022, production growth failed to regain momentum.

Diagnostic Equipment Exports

Exports in Latin America and the Caribbean

For the fourth consecutive year, LatAmerica and the Caribbean recorded growth in shipments abroad of electro-diagnostic apparatus, and ultra-violet or infra-red ray apparatus, which increased by X% to X units in 2022. Overall, exports enjoyed resilient growth. The growth pace was 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 likely to continue growth in the near future.

In value terms, diagnostic equipment exports skyrocketed to $X in 2022. In general, exports enjoyed a prominent expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

The Dominican Republic was the largest exporter of electro-diagnostic apparatus, and ultra-violet or infra-red ray apparatus in Latin America and the Caribbean, with the volume of exports accounting for X units, which was approx. X% of total exports in 2022. Mexico (X units) held the second position in the ranking, distantly followed by Costa Rica (X units). All these countries together held near X% share of total exports.

The Dominican Republic was also the fastest-growing in terms of the electro-diagnostic apparatus, and ultra-violet or infra-red ray apparatus exports, with a CAGR of X% from 2012 to 2022. At the same time, Costa Rica (X%) displayed positive paces of growth. Mexico experienced a relatively flat trend pattern. From 2012 to 2022, the share of the Dominican Republic and Costa Rica increased by X and X percentage points, respectively.

In value terms, Mexico ($X) remains the largest diagnostic equipment supplier in Latin America and the Caribbean, comprising X% of total exports. The second position in the ranking was held by Costa Rica ($X), with a X% share of total exports.

In Mexico, diagnostic equipment exports increased at an average annual rate of X% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Costa Rica (X% per year) and the Dominican Republic (X% per year).

Export Prices by Country

In 2022, the export price in Latin America and the Caribbean amounted to $X per unit, waning by X% against the previous year. Overall, the export price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 an increase of X% against the previous year. The level of export peaked at $X per unit in 2018; however, from 2019 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Mexico ($X per unit), while the Dominican Republic ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mexico (X%), while the other leaders experienced mixed trends in the export price figures.

Diagnostic Equipment Imports

Imports in Latin America and the Caribbean

In 2022, purchases abroad of electro-diagnostic apparatus, and ultra-violet or infra-red ray apparatus increased by X% to X units, rising for the fourth year in a row after five years of decline. The total import volume increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2013 with an increase of X%. The volume of import peaked in 2022 and is expected to retain growth in the near future.

In value terms, diagnostic equipment imports surged to $X in 2022. The total import value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Brazil (X units) and Mexico (X units) represented the major importers of electro-diagnostic apparatus, and ultra-violet or infra-red ray apparatus in 2022, reaching near X% and X% of total imports, respectively. It was distantly followed by Guatemala (X units), Ecuador (X units) and Argentina (X units), together achieving a X% share of total imports. The following importers - Colombia (X units), Peru (X units), Nicaragua (X units), Chile (X units), Bolivia (X units), El Salvador (X units), Costa Rica (X units) and the Dominican Republic (X units) - together made up X% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by the Dominican Republic (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest diagnostic equipment importing markets in Latin America and the Caribbean were Brazil ($X), Mexico ($X) and Argentina ($X), together accounting for X% of total imports. Colombia, Chile, Peru, Ecuador, Costa Rica, Guatemala, the Dominican Republic, Bolivia, Nicaragua and El Salvador lagged somewhat behind, together accounting for a further X%.

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

Import Prices by Country

The import price in Latin America and the Caribbean stood at $X per unit in 2022, growing by X% against the previous year. Overall, the import price, however, continues to indicate a relatively flat trend pattern. Over the period under review, import prices attained the maximum at $X per unit in 2018; however, from 2019 to 2022, import prices failed to regain momentum.

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 Chile ($X per unit), while Guatemala ($X per unit) was amongst the lowest.

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

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :