Southern Asia: Medical Instruments Market 2024

Medical Instruments Market Size in Southern Asia

The South Asian medical instruments market was finally on the rise to reach $X in 2022, after two years of decline. Over the period under review, consumption, however, saw a perceptible slump. The level of consumption peaked at $X in 2016; however, from 2017 to 2022, consumption remained at a lower figure.

Medical Instruments Production in Southern Asia

In value terms, medical instruments production fell slightly to $X in 2022 estimated in export price. Overall, production continues to indicate a noticeable decrease. The pace of growth was the most pronounced in 2019 when the production volume increased by 26% against the previous year. The level of production peaked at $X in 2016; however, from 2017 to 2022, production failed to regain momentum.

Medical Instruments Exports

Exports in Southern Asia

Medical instruments exports shrank to X tons in 2022, waning by -10% against 2021. Over the period under review, exports, however, continue to indicate significant growth. The pace of growth was the most pronounced in 2019 when exports increased by 72% against the previous year. The volume of export peaked at X tons in 2021, and then shrank in the following year.

In value terms, medical instruments exports rose remarkably to $X in 2022. Total exports indicated a resilient expansion from 2012 to 2022: its value increased at an average annual rate of +6.4% 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 +57.0% against 2016 indices. The most prominent rate of growth was recorded in 2019 when exports increased by 19% against the previous year. The level of export peaked in 2022 and is likely to see gradual growth in the near future.

Exports by Country

India was the largest exporter of instruments used in medical sciences in Southern Asia, with the volume of exports accounting for X tons, which was near 80% of total exports in 2022. It was distantly followed by Pakistan (X tons), making up a 20% share of total exports.

India was also the fastest-growing in terms of the instruments used in medical sciences exports, with a CAGR of +33.1% from 2012 to 2022. At the same time, Pakistan (+12.6%) displayed positive paces of growth. While the share of India (+37 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Pakistan (-37.3 p.p.) displayed negative dynamics.

In value terms, the largest medical instruments supplying countries in Southern Asia were Pakistan ($X) and India ($X).

India, with a CAGR of +10.5%, saw the highest rates of growth with regard to the value of exports, among the main exporting countries over the period under review.

Export Prices by Country

The export price in Southern Asia stood at $X per ton in 2022, growing by 18% against the previous year. In general, the export price, however, showed a drastic downturn. Over the period under review, the export prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Pakistan ($X per ton), while India stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Pakistan (-7.9%).

Medical Instruments Imports

Imports in Southern Asia

In 2022, approx. X tons of instruments used in medical sciences were imported in Southern Asia; dropping by -8.3% compared with 2021. Total imports indicated a buoyant expansion from 2012 to 2022: its volume increased at an average annual rate of +5.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +71.7% against 2012 indices. The pace of growth was the most pronounced in 2021 when imports increased by 20% against the previous year. As a result, imports attained the peak of X tons, and then reduced in the following year.

In value terms, medical instruments imports expanded significantly to $X in 2022. Total imports indicated a prominent expansion from 2012 to 2022: its value increased at an average annual rate of +7.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +44.0% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of 37%. Over the period under review, imports attained the maximum in 2022 and are expected to retain growth in the near future.

Imports by Country

India prevails in imports structure, accounting for X tons, which was near 78% of total imports in 2022. It was distantly followed by Pakistan (X tons), Sri Lanka (X tons) and Bangladesh (X tons), together mixing up an 18% share of total imports. Nepal (X tons) held a little share of total imports.

Imports into India increased at an average annual rate of +5.4% from 2012 to 2022. At the same time, Nepal (+8.9%), Sri Lanka (+6.9%), Bangladesh (+6.9%) and Pakistan (+3.4%) displayed positive paces of growth. Moreover, Nepal emerged as the fastest-growing importer imported in Southern Asia, with a CAGR of +8.9% from 2012-2022. While the share of Pakistan (-1.6 p.p.) decreased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, India ($X) constitutes the largest market for imported instruments used in medical sciences in Southern Asia, comprising 80% of total imports. The second position in the ranking was taken by Pakistan ($X), with a 6.5% share of total imports. It was followed by Sri Lanka, with a 4.6% share.

From 2012 to 2022, the average annual growth rate of value in India stood at +7.3%. In the other countries, the average annual rates were as follows: Pakistan (+4.1% per year) and Sri Lanka (+6.3% per year).

Import Prices by Country

The import price in Southern Asia stood at $X per ton in 2022, with an increase of 15% against the previous year. Over the last decade, it increased at an average annual rate of +1.4%. The pace of growth appeared the most rapid in 2017 when the import price increased by 21% against the previous year. As a result, import price reached the peak level of $X per ton. From 2018 to 2022, the import prices remained at a somewhat lower figure.

Average prices varied somewhat amongst the major importing countries. In 2022, major importing countries recorded the following prices: in India ($X per ton) and Pakistan ($X per ton), while Nepal ($X per ton) and Bangladesh ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+1.8%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :