Philippines: Optical Radiation Instruments Market 2024

Optical Radiation Instruments Market Size in the Philippines

For the third consecutive year, the Philippine optical radiation instruments market recorded growth in sales value, which increased by X% to $X in 2022. In general, consumption recorded significant growth. Optical radiation instruments consumption peaked in 2022 and is expected to retain growth in the near future.

Optical Radiation Instruments Production in the Philippines

In value terms, optical radiation instruments production declined to $X in 2022 estimated in export price. Over the period under review, production, however, showed a abrupt descent. The most prominent rate of growth was recorded in 2017 when the production volume increased by X% against the previous year. Optical radiation instruments production peaked at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Optical Radiation Instruments Exports

Exports from the Philippines

In 2022, shipments abroad of instruments using optical radiations decreased by X% to X units, falling for the second year in a row after two years of growth. In general, exports continue to indicate a abrupt setback. The pace of growth appeared the most rapid in 2017 with an increase of X%. The exports peaked at X units in 2020; however, from 2021 to 2022, the exports failed to regain momentum.

In value terms, optical radiation instruments exports contracted notably to $X in 2022. Over the period under review, exports faced a abrupt descent. The most prominent rate of growth was recorded in 2017 with an increase of X%. Over the period under review, the exports reached the peak figure at $X in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

Exports by Country

Singapore (X units), the United States (X units) and Japan (X units) were the main destinations of optical radiation instruments exports from the Philippines, with a combined X% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Singapore (with a CAGR of X%), while shipments for the other leaders experienced a decline.

In value terms, Singapore ($X) emerged as the key foreign market for instruments using optical radiations exports from the Philippines, comprising X% of total exports. The second position in the ranking was held by the United States ($X), with a X% share of total exports.

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

Export Prices by Country

In 2022, the average optical radiation instruments export price amounted to $X per unit, increasing by X% against the previous year. Over the period under review, the export price, however, showed a abrupt decrease. The most prominent rate of growth was recorded in 2021 when the average export price increased by X%. The export price peaked at $X per unit in 2018; however, from 2019 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 Singapore ($X per unit), while the average price for exports to the United States ($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 Singapore (X%), while the prices for the other major destinations experienced a decline.

Optical Radiation Instruments Imports

Imports into the Philippines

In 2022, imports of instruments using optical radiations into the Philippines skyrocketed to X units, rising by X% on the previous year. Over the period under review, imports posted significant growth. The pace of growth appeared the most rapid in 2015 when imports increased by X%. Imports peaked in 2022 and are likely to continue growth in the immediate term.

In value terms, optical radiation instruments imports rose sharply to $X in 2022. In general, imports posted significant growth. The most prominent rate of growth was recorded in 2015 when imports increased by X%. Over the period under review, imports hit record highs at $X in 2020; however, from 2021 to 2022, imports remained at a lower figure.

Imports by Country

Israel (X units), Singapore (X units) and the United States (X units) were the main suppliers of optical radiation instruments imports to the Philippines, with a combined X% share of total imports. China, Japan, Hungary, the UK and Switzerland lagged somewhat behind, together comprising a further X%.

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

In value terms, the largest optical radiation instruments suppliers to the Philippines were Singapore ($X), Israel ($X) and the United States ($X), together accounting for X% of total imports. Japan, Switzerland, China, the UK and Hungary lagged somewhat behind, together accounting for a further X%.

Among the main suppliers, Hungary, with a CAGR of X%, saw the highest growth rate of 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 optical radiation instruments import price amounted to $X per unit, with a decrease of X% against the previous year. Over the period under review, the import price continues to indicate a deep setback. The growth pace was the most rapid in 2017 an increase of X% against the previous year. The import price peaked at $X per unit in 2012; however, from 2013 to 2022, import prices remained at a 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 Switzerland ($X per unit), while the price for Hungary ($X per unit) was amongst the lowest.

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

Source: IndexBox Platform

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