Latvia - Instruments Used In Medical Sciences - Market Analysis, Forecast, Size, Trends And Insights
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View PricingMedical Instruments Price in Latvia - 2024
Contents:
- Medical Instruments Price in Latvia (FOB) - 2022
- Medical Instruments Price in Latvia (CIF) - 2024
- Medical Instruments Exports in Latvia
- Medical Instruments Imports in Latvia
Medical Instruments Price in Latvia (FOB) - 2022
The average medical instruments export price stood at $93,734 per ton in 2022, remaining stable against the previous year. Over the period under review, the export price showed a pronounced downturn. The growth pace was the most rapid in 2013 when the average export price increased by 89% against the previous year. Over the period under review, the average export prices hit record highs at $493,604 per ton in 2018; however, from 2019 to 2022, the export prices stood at a somewhat lower figure.
There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Japan ($349,871 per ton), while the average price for exports to Estonia ($17,868 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 the Netherlands (+13.9%), while the prices for the other major destinations experienced mixed trend patterns.
Medical Instruments Price in Latvia (CIF) - 2024
In February 2024, the average medical instruments import price amounted to $75,262 per ton, dropping by -11.2% against the previous month. Overall, import price indicated a strong increase from February 2023 to February 2024: its price increased at an average monthly rate of +5.5% over the last twelve-month period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on February 2024 figures, medical instruments import price increased by +36.3% against October 2023 indices. The pace of growth appeared the most rapid in March 2023 when the average import price increased by 34% month-to-month. Over the period under review, average import prices hit record highs at $84,752 per ton in January 2024, and then fell in the following month.
There were significant differences in the average prices amongst the major supplying countries. In February 2024, the country with the highest price was Italy ($329K per ton), while the price for Germany ($22,109 per ton) was amongst the lowest.
From February 2023 to February 2024, the most notable rate of growth in terms of prices was attained by Cyprus (+73.0%), while the prices for the other major suppliers experienced more modest paces of growth.
Medical Instruments Exports in Latvia
After two years of decline, shipments abroad of instruments used in medical sciences decreased by 0% to 931 tons in 2022. Overall, exports posted a significant expansion. The smallest decline of 99.9% was in 2020. The exports peaked in 2022 and are expected to retain growth in the near future.
In value terms, medical instruments exports reduced slightly to $87M in 2022. In general, total exports indicated a significant expansion from 2019 to 2022: its value increased at an average annual rate of +21.3% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +78.6% against 2019 indices. The growth pace was the most rapid in 2020 with an increase of 49% against the previous year.
| Export of Medical Instruments in Latvia (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Russia | 3.8 | 29.2 | 30.4 | 27.5 | 93.4% |
| Italy | 4.4 | 5.8 | 9.2 | 10.2 | 32.3% |
| United States | 7.0 | 6.4 | 11.0 | 7.4 | 1.9% |
| Japan | 7.7 | 5.1 | 6.6 | 5.0 | -13.4% |
| Netherlands | 2.4 | 1.0 | 2.4 | 3.4 | 12.3% |
| Lithuania | 1.0 | 1.4 | 1.8 | 3.3 | 48.9% |
| Poland | 0.7 | 0.5 | 2.5 | 2.6 | 54.9% |
| China | 1.0 | 0.7 | 1.5 | 2.4 | 33.9% |
| Belarus | 3.9 | 4.4 | 3.5 | 1.9 | -21.3% |
| Estonia | 0.8 | 0.7 | 1.5 | 1.6 | 26.0% |
| Uzbekistan | N/A | 0.6 | 0.2 | 1.2 | 41.4% |
| Others | 16.2 | 16.9 | 18.9 | 20.8 | 8.7% |
| Total | 48.9 | 72.7 | 89.5 | 87.3 | 21.3% |
Top Export Markets for Medical Instruments from Latvia in 2022:
- Russia (439.4 tons)
- Estonia (91.8 tons)
- Belarus (66.9 tons)
- Italy (56.9 tons)
- Lithuania (48.6 tons)
- China (29.5 tons)
- Poland (22.1 tons)
- Uzbekistan (21.3 tons)
- United States (21.2 tons)
- Japan (14.3 tons)
- Netherlands (11.3 tons)
Medical Instruments Imports in Latvia
For the fourth consecutive year, Latvia recorded growth in purchases abroad of instruments used in medical sciences, which increased by 13% to 14K tons in 2022. In general, imports showed significant growth. The growth pace was the most rapid in 2020 with an increase of 291%. Imports peaked in 2022 and are expected to retain growth in the immediate term.
In value terms, medical instruments imports dropped to $65M in 2022. Overall, total imports indicated a significant expansion from 2019 to 2022: its value increased at an average annual rate of +24.9% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +94.9% against 2019 indices. The pace of growth appeared the most rapid in 2020 when imports increased by 80%.
| Import of Medical Instruments in Latvia (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Germany | 11.5 | 19.9 | 23.6 | 20.2 | 20.7% |
| Netherlands | 4.0 | 5.0 | 7.8 | 10.6 | 38.4% |
| Cyprus | N/A | 14.9 | 11.9 | 8.1 | -26.3% |
| Lithuania | 2.6 | 3.5 | 4.2 | 4.7 | 21.8% |
| Italy | 1.2 | 1.7 | 2.6 | 4.2 | 51.8% |
| Estonia | 1.7 | 2.2 | 2.7 | 2.7 | 16.7% |
| Sweden | 0.4 | 0.4 | 1.1 | 2.3 | 79.2% |
| Poland | 0.9 | 1.4 | 1.6 | 1.8 | 26.0% |
| Others | 11.1 | 11.1 | 11.9 | 10.6 | -1.5% |
| Total | 33.4 | 60.2 | 67.6 | 65.1 | 24.9% |
Top Suppliers of Medical Instruments to Latvia in 2022:
- Germany (7.2K tons)
- Cyprus (2.8K tons)
- Italy (0.8K tons)
- Poland (0.7K tons)
- Netherlands (0.6K tons)
- Lithuania (0.6K tons)
- Estonia (0.3K tons)
- Sweden (0.3K tons)
This report provides an in-depth analysis of the medical instruments market in Latvia. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
- Prodcom 32501333 - Instruments and apparatus for measuring blood-pressure (including sphygmomanometers, tensiometers, oscillometers)
- Prodcom 32501335 - Endoscopes for medical purposes
- Prodcom 32501353 - Renal dialysis equipment
- Prodcom 32501355 - Diathermic apparatus (including ultrasonic)
- Prodcom 32501363 - Transfusion apparatus (excluding special blood storage glass bottles)
- Prodcom 32501365 - Anaesthetic apparatus and instruments
- Prodcom 32501370 - Instruments and appliances used in medical, surgical or veterinary sciences, n.e.s.
Country coverage:
- Latvia
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in Latvia
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
-
2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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