Turkey: Medical Instruments Market 2024

Medical Instruments Market Size in Turkey

The Turkish medical instruments market plummeted to $X in 2022, dropping by -41.7% against the previous year. Overall, consumption saw a drastic downturn. Medical instruments consumption peaked at $X in 2014; however, from 2015 to 2022, consumption stood at a somewhat lower figure.

Medical Instruments Production in Turkey

In value terms, medical instruments production declined slightly to $X in 2022 estimated in export price. Over the period under review, the total production indicated resilient growth from 2012 to 2022: its value increased at an average annual rate of +10.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -9.9% against 2018 indices. The most prominent rate of growth was recorded in 2013 when the production volume increased by 73%. Over the period under review, production hit record highs at $X in 2018; however, from 2019 to 2022, production remained at a lower figure.

Medical Instruments Exports

Exports from Turkey

In 2022, the amount of instruments used in medical sciences exported from Turkey stood at X tons, with an increase of 8.3% compared with the previous year. In general, exports showed a significant increase. The growth pace was the most rapid in 2015 when exports increased by 370% against the previous year. The exports peaked in 2022 and are expected to retain growth in the near future.

In value terms, medical instruments exports rose significantly to $X in 2022. Over the period under review, exports recorded a buoyant increase. The pace of growth was the most pronounced in 2015 when exports increased by 152%. Over the period under review, the exports attained the maximum in 2022 and are likely to see gradual growth in the near future.

Exports by Country

Slovenia (X tons), Germany (X tons) and Iraq (X tons) were the main destinations of medical instruments exports from Turkey, with a combined 75% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Slovenia (with a CAGR of +260.1%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), Slovenia ($X) and the Netherlands ($X) appeared to be the largest markets for medical instruments exported from Turkey worldwide, together comprising 49% of total exports.

Slovenia, with a CAGR of +217.9%, recorded the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

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 abrupt shrinkage. The most prominent rate of growth was recorded in 2020 when the average export price increased by 10% against the previous year. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was the Netherlands ($X per ton), while the average price for exports to Slovenia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Iraq (+1.1%), while the prices for the other major destinations experienced a decline.

Medical Instruments Imports

Imports into Turkey

In 2022, supplies from abroad of instruments used in medical sciences decreased by -3.7% to X tons, falling for the second consecutive year after seven years of growth. Overall, total imports indicated a resilient expansion from 2012 to 2022: its volume increased at an average annual rate of +5.4% 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 -8.8% against 2020 indices. The most prominent rate of growth was recorded in 2017 with an increase of 14% against the previous year. Imports peaked at X tons in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

In value terms, medical instruments imports fell dramatically to $X in 2022. Over the period under review, imports continue to indicate a perceptible decrease. The most prominent rate of growth was recorded in 2020 with an increase of 27%. As a result, imports reached the peak of $X. From 2021 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

China (X tons), Bangladesh (X tons) and France (X tons) were the main suppliers of medical instruments imports to Turkey, together comprising 58% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Bangladesh (with a CAGR of +207.6%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), Germany ($X) and China ($X) constituted the largest medical instruments suppliers to Turkey, together accounting for 58% of total imports. France, Mexico, Italy, Malaysia, Vietnam, Bangladesh, Costa Rica, North Macedonia and Thailand lagged somewhat behind, together comprising a further 26%.

Bangladesh, with a CAGR of +182.6%, saw the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average medical instruments import price stood at $X per ton in 2022, declining by -22.7% against the previous year. Overall, the import price showed a abrupt decline. The growth pace was the most rapid in 2020 an increase of 15%. Over the period under review, average import prices reached the peak figure at $X per ton in 2013; however, from 2014 to 2022, import prices failed to regain momentum.

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 the United States ($X per ton), while the price for Bangladesh ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Thailand (+3.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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