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Latin America and the Caribbean - Instruments Used in Medical Sciences - Market Analysis, Forecast, Size, Trends and Insights
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View PricingLatin America and the Caribbean: Medical Instruments Market 2024
Medical Instruments Market Size in Latin America and the Caribbean
In 2022, the Latin American medical instruments market decreased by -2.2% to $X for the first time since 2017, thus ending a four-year rising trend. Over the period under review, consumption showed a pronounced downturn. The level of consumption peaked at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.
Medical Instruments Production in Latin America and the Caribbean
In value terms, medical instruments production reduced to $X in 2022 estimated in export price. Over the period under review, production, however, recorded a prominent increase. The pace of growth appeared the most rapid in 2014 with an increase of 43% against the previous year. Over the period under review, production attained the peak level at $X in 2021, and then declined in the following year.
Medical Instruments Exports
Exports in Latin America and the Caribbean
In 2022, overseas shipments of instruments used in medical sciences were finally on the rise to reach X tons after two years of decline. Total exports indicated a resilient expansion from 2012 to 2022: its volume increased at an average annual rate of +5.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2013 with an increase of 20% against the previous year. Over the period under review, the exports hit record highs at X tons in 2019; however, from 2020 to 2022, the exports remained at a lower figure.
In value terms, medical instruments exports expanded sharply to $X in 2022. Total exports indicated a buoyant expansion from 2012 to 2022: its value increased at an average annual rate of +8.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +133.4% against 2012 indices. The pace of growth was the most pronounced in 2014 with an increase of 22%. The level of export peaked in 2022 and is expected to retain growth in the near future.
Exports by Country
Mexico was the main exporting country with an export of around X tons, which reached 83% of total exports. It was distantly followed by the Dominican Republic (X tons), comprising an 11% share of total exports. Costa Rica (X tons) took a little share of total exports.
Exports from Mexico increased at an average annual rate of +6.5% from 2012 to 2022. At the same time, Costa Rica (+10.2%) displayed positive paces of growth. Moreover, Costa Rica emerged as the fastest-growing exporter exported in Latin America and the Caribbean, with a CAGR of +10.2% from 2012-2022. The Dominican Republic experienced a relatively flat trend pattern. From 2012 to 2022, the share of Mexico and Costa Rica increased by +7.7 and +1.6 percentage points, respectively.
In value terms, Mexico ($X) remains the largest medical instruments supplier in Latin America and the Caribbean, comprising 67% of total exports. The second position in the ranking was taken by Costa Rica ($X), with a 21% share of total exports.
From 2012 to 2022, the average annual growth rate of value in Mexico totaled +9.4%. The remaining exporting countries recorded the following average annual rates of exports growth: Costa Rica (+15.7% per year) and the Dominican Republic (+1.6% per year).
Export Prices by Country
The export price in Latin America and the Caribbean stood at $X per ton in 2022, with an increase of 4.8% against the previous year. Over the last decade, it increased at an average annual rate of +3.2%. The pace of growth was the most pronounced in 2020 when the export price increased by 16% against the previous year. The level of export peaked in 2022 and is expected to retain growth in the near future.
Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Costa Rica ($X per ton), while Mexico ($X per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Costa Rica (+5.0%), while the other leaders experienced more modest paces of growth.
Medical Instruments Imports
Imports in Latin America and the Caribbean
In 2022, approx. X tons of instruments used in medical sciences were imported in Latin America and the Caribbean; with an increase of 2% against the previous year. Overall, imports, however, recorded a deep contraction. The pace of growth was the most pronounced in 2019 with an increase of 22%. Over the period under review, imports attained the maximum at X tons in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.
In value terms, medical instruments imports expanded markedly to $X in 2022. The total import value increased at an average annual rate of +3.3% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2021 with an increase of 13% against the previous year. Over the period under review, imports attained the peak figure in 2022 and are likely to see gradual growth in years to come.
Imports by Country
In 2022, Mexico (X tons), distantly followed by Brazil (X tons), Chile (X tons), Bolivia (X tons), Colombia (X tons) and Argentina (X tons) were the largest importers of instruments used in medical sciences, together mixing up 81% of total imports. Venezuela (X tons) followed a long way behind the leaders.
From 2012 to 2022, the biggest increases were recorded for Bolivia (with a CAGR of +34.5%), while purchases for the other leaders experienced more modest paces of growth.
In value terms, Mexico ($X) constitutes the largest market for imported instruments used in medical sciences in Latin America and the Caribbean, comprising 53% of total imports. The second position in the ranking was held by Brazil ($X), with a 14% share of total imports. It was followed by Chile, with a 6.2% share.
From 2012 to 2022, the average annual rate of growth in terms of value in Mexico stood at +7.4%. In the other countries, the average annual rates were as follows: Brazil (+2.6% per year) and Chile (+6.2% per year).
Import Prices by Country
In 2022, the import price in Latin America and the Caribbean amounted to $X per ton, with an increase of 8.3% against the previous year. Overall, the import price showed strong growth. The pace of growth was the most pronounced in 2017 an increase of 117% against the previous year. Over the period under review, import prices attained the peak figure in 2022 and is expected to retain growth in years to come.
There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Mexico ($X per ton), while Venezuela ($X per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Chile (+35.5%), while the other leaders experienced more modest paces of growth.
Source: IndexBox Platform
Frequently Asked Questions (FAQ) :
This report provides an in-depth analysis of the medical instruments market in Latin America and the Caribbean. 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:
- Anguilla
- Antigua and Barbuda
- Argentina
- Aruba
- Bahamas
- Barbados
- Belize
- Bolivia
- Brazil
- British Virgin Islands
- Cayman Islands
- Chile
- Colombia
- Costa Rica
- Cuba
- Curacao
- Dominica
- Dominican Republic
- Ecuador
- El Salvador
- Falkland Islands (Malvinas)
- French Guiana
- Grenada
- Guadeloupe
- Guatemala
- Guyana
- Haiti
- Honduras
- Jamaica
- Martinique
- Mexico
- Montserrat
- Nicaragua
- Panama
- Paraguay
- Peru
- Puerto Rico
- Saint Kitts and Nevis
- Saint Lucia
- Saint Maarten (Dutch part)
- Saint Vincent and the Grenadines
- Suriname
- Trinidad and Tobago
- Turks and Caicos Islands
- United States Virgin Islands
- Uruguay
- Venezuela
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Production in Latin America and the Caribbean, split by region and country
- Trade (exports and imports) in Latin America and the Caribbean
- 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
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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
- CONSUMPTION BY COUNTRY
- 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
- PRODUCTION BY COUNTRY
8. IMPORTS
The Largest Importers on The Market and How They Succeed
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Exporters on The Market and How They Succeed
- 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 -
11. COUNTRY PROFILES
The Largest Markets And Their Profiles
This Chapter is Available Only for the Professional Edition PRO- Anguilla
- Antigua and Barbuda
- Argentina
- Aruba
- Bahamas
- Barbados
- Belize
- Bolivia
- Brazil
- British Virgin Islands
- Cayman Islands
- Chile
- Colombia
- Costa Rica
- Cuba
- Curacao
- Dominica
- Dominican Republic
- Ecuador
- El Salvador
- Falkland Islands (Malvinas)
- French Guiana
- Grenada
- Guadeloupe
- Guatemala
- Guyana
- Haiti
- Honduras
- Jamaica
- Martinique
- Mexico
- Montserrat
- Nicaragua
- Panama
- Paraguay
- Peru
- Saint Kitts and Nevis
- Saint Lucia
- Saint Vincent and the Grenadines
- Saint Maarten (Dutch part)
- Suriname
- Trinidad and Tobago
- Turks and Caicos Islands
- United States Virgin Islands
- Uruguay
- Venezuela
- Puerto Rico
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LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption, By Country, 2018–2023
- Production, In Physical Terms, By Country, 2012–2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Destination, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Origin, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Consumption, By Country, 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
- Production, By Country, 2023
- Production, In Physical Terms, By Country, 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, 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, 2012–2023
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