Asia-Pacific: Diagnostic Equipment Market 2024

Diagnostic Equipment Market Size in Asia-Pacific

The Asia-Pacific diagnostic equipment market rose markedly to $X in 2023, increasing by X% against the previous year. The total consumption indicated a moderate increase from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, consumption decreased by X% against 2021 indices. As a result, consumption reached the peak level of $X. From 2022 to 2023, the growth of the market remained at a lower figure.

Diagnostic Equipment Production in Asia-Pacific

In value terms, diagnostic equipment production expanded sharply to $X in 2023 estimated in export price. The total production indicated a measured expansion from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, production decreased by X% against 2021 indices. The pace of growth appeared the most rapid in 2021 with an increase of X%. As a result, production reached the peak level of $X. From 2022 to 2023, production growth remained at a lower figure.

Diagnostic Equipment Exports

Exports in Asia-Pacific

In 2023, shipments abroad of electro-diagnostic apparatus, and ultra-violet or infra-red ray apparatus increased by X% to X units, rising for the seventh consecutive year after two years of decline. In general, exports continue to indicate a buoyant expansion. The most prominent rate of growth was recorded in 2021 with an increase of X%. The volume of export peaked in 2023 and is expected to retain growth in the near future.

In value terms, diagnostic equipment exports contracted modestly to $X in 2023. Total exports indicated a notable expansion from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, exports increased by X% against 2016 indices. The most prominent rate of growth was recorded in 2021 with an increase of X%. Over the period under review, the exports hit record highs at $X in 2022, and then shrank slightly in the following year.

Exports by Country

China prevails in exports structure, amounting to X units, which was near X% of total exports in 2023. It was distantly followed by Japan (X units), making up an X% share of total exports. Singapore (X units), South Korea (X units), Malaysia (X units), Hong Kong SAR (X units) and India (X units) took a minor share of total exports.

China 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 2023. At the same time, India (X%), Malaysia (X%), Singapore (X%) and Japan (X%) displayed positive paces of growth. Hong Kong SAR experienced a relatively flat trend pattern. By contrast, South Korea (X%) illustrated a downward trend over the same period. While the share of China (X p.p.) increased significantly in terms of the total exports from 2012-2023, the share of Hong Kong SAR (X p.p.), South Korea (X p.p.) and Japan (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X), Japan ($X) and South Korea ($X) were the countries with the highest levels of exports in 2023, together accounting for X% of total exports. Hong Kong SAR, Singapore, Malaysia and India lagged somewhat behind, together accounting for a further X%.

India, with a CAGR of X%, saw the highest growth rate of the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in Asia-Pacific stood at $X per unit in 2023, shrinking by X% against the previous year. Overall, the export price recorded a noticeable decrease. The pace of growth appeared the most rapid in 2014 when the export price increased by X% against the previous year. Over the period under review, the export prices attained the peak figure at $X per unit in 2019; however, from 2020 to 2023, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was Hong Kong SAR ($X per unit), while China ($X per unit) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (X%), while the other leaders experienced more modest paces of growth.

Diagnostic Equipment Imports

Imports in Asia-Pacific

Diagnostic equipment imports expanded to X units in 2023, with an increase of X% against 2022. Total imports indicated buoyant growth from 2012 to 2023: its volume increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, imports increased by X% against 2017 indices. The growth pace was the most rapid in 2021 with an increase of X% against the previous year. The volume of import peaked in 2023 and is likely to continue growth in the near future.

In value terms, diagnostic equipment imports contracted modestly to $X in 2023. The total import value increased at an average annual rate of X% from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2021 when imports increased by X% against the previous year. The level of import peaked at $X in 2022, and then shrank slightly in the following year.

Imports by Country

In 2023, Japan (X units) and China (X units) represented the largest importers of electro-diagnostic apparatus, and ultra-violet or infra-red ray apparatus in Asia-Pacific, together amounting to near X% of total imports. Hong Kong SAR (X units) held an X% share (based on physical terms) of total imports, which put it in second place, followed by South Korea (X%), Singapore (X%) and India (X%). Australia (X units), Malaysia (X units), Taiwan (Chinese) (X units), the Philippines (X units), Indonesia (X units) and Thailand (X units) held a relatively small share of total imports.

From 2012 to 2023, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by China (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 Asia-Pacific were China ($X), Japan ($X) and Hong Kong SAR ($X), with a combined X% share of total imports. India, Singapore, Australia, South Korea, Malaysia, Indonesia, Thailand, Taiwan (Chinese) and the Philippines lagged somewhat behind, together accounting for a further X%.

Among the main importing countries, Indonesia, with a CAGR of X%, 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

The import price in Asia-Pacific stood at $X per unit in 2023, which is down by X% against the previous year. In general, the import price saw a noticeable descent. The growth pace was the most rapid in 2017 when the import price increased by X%. Over the period under review, import prices hit record highs at $X per unit in 2019; however, from 2020 to 2023, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was India ($X per unit), while the Philippines ($X per unit) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by the Philippines (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform