Top Export Markets for Medical & Homeopathic Goods
If you are a medical or homeopathic supplies manufacturer looking to expand internationally, identifying the right countries to target internationally can be difficult. This article analyzes import volumes for these products for different countries between 2012 and 2016. Based on this analysis we identify the fastest growing and largest export markets for these products to help you prioritize your international expansion strategies.
The data in this analysis is from the International Trade Centre (ITC). It is limited to the following product categories as categorized by the ITC:
Product Group 9019 (Mechano-therapy appliances and massage apparatus)
Product Group 9020 (Breathing appliances and gas masks)
Product Group 9021 (Orthopaedic appliances)
Medical & Homeopathic Supplies Imports Analysis by Region
We can see that the largest import market for these products is Europe & Central Asia (approximately US$ 33 billion in 2016). Average annual import growth between 2012 and 2016 was also positive in this region. This means entering the market and gaining share would be relatively easier. In addition, North America and East Asia & the Pacific also showed strong growth during this time period with substantial import volume. Targeting these regions could also be beneficial.
Targeting countries in your own region of the world first is sometimes the easiest way to start growing intentionally. We now focus on each one of these regions individually to understand what countries might be your best targets for international expansion. High import volume and high year over year import growth are two metrics you want to continue focusing on when looking at countries within a specific region.
Medical & Homeopathic Supplies Imports Analysis for East Asia & Pacific Countries
Within East Asia & Pacific, the countries with the highest volume of imports in 2016 are Japan, China, South Korea, Australia and Singapore. Most of these countries have strong import growth with the exception of Japan. In addition, Taiwan, Malaysia, New Zealand, Thailand and Vietnam also have high growth in imports making them great targets for expansion.
Medical & Homeopathic Supplies Imports Analysis for Europe & Central Asia Countries
Within Europe & East Asia, the countries with the highest volume of imports in 2016 are Germany, Netherlands, France, Belgium, Switzerland, Italy and Spain. Most of these countries also have positive year over year import growth with the exception of France and Italy. In addition, Ireland, Austria, Poland and Portugal have high growth in imports although limited volume.
Medical & Homeopathic Supplies Imports Analysis for Latin America & Caribbean Countries
Within Latin America & Caribbean, the countries with the highest volume of imports in 2016 are Brazil, Mexico, Colombia, Argentina and Chile. Import growth in Mexico, Argentina and Chile has also been strong. In addition, Panama, Costa Rica, Peru, Dominican Republic and Uruguay have all been posting high growth in imports as well.
Medical & Homeopathic Supplies Imports Analysis for Middle East & North Africa Countries
Within the Middle East & North Africa, the countries with the highest volume of imports in 2016 are Iran, Israel, United Arab Emirates, Saudi Arabia, and Egypt. All of these countries have strong growth in imports as well with the exception of Saudi Arabia. In addition, Kuwait, Lebanon, Algeria, Morocco and Jordan have had high growth in imports although limited volume.
Medical & Homeopathic Supplies Imports Analysis for North America Countries
Within North America, the countries with the highest volume of imports in 2016 are the United States and Canada. The United States also has strong year over year import growth.
Medical & Homeopathic Supplies Imports Analysis for South Asia Countries
Within South Asia, the country with the highest volume of imports in 2016 is India. India also has quite strong year over year growth in imports. In addition, Sri Lanka and Pakistan have had high growth in imports although limited volume.
Medical & Homeopathic Supplies Imports Analysis for Sub-Saharan Africa Countries
Within Sub-Saharan Africa, the country with the highest volume of imports in 2016 is South Africa. In addition, Nigeria, Ethiopia, Kenya and Mauritius have high growth in imports although limited volume.
Getting Serious About Expanding Internationally?
Analyzing data is the first step to building a strategic plan for international expansion. Once you've identified your potential target countries for expansion, you can use our online platform to find local partners in those countries. Learn more about our platform here and then signup to add your products, set your partnership terms and review partnership offers you'll start receiving from local partners.