India Surgical Drills Market Shipment Analysis
India Surgical Drills Market registered a decline of -3.56% in value shipments in 2022 as compared to 2021 and an increase of 7.53% CAGR in 2022 over a period of 2017. In Surgical Drills Market India is becoming more competitive as the HHI index in 2022 was 1256 while in 2017 it was 1627. Herfindahl Index measures the competitiveness of exporting countries. The range lies from 0 to 10000, where a lower index number represents a larger number of players or exporting countries in the market while a large index number means less numbers of players or countries exporting in the market. India has reportedly relied more on imports to meet its growing demand in Surgical Drills Market.
India is shifting towards local production to meet its demand as we see the trend is shifting towards reducing imports. The import factor of Surgical Drills Market in 2022 was 2.38 while in 2017 it was 3.22. USA, China, Germany, Japan and Netherlands were among the top players of the market in 2022, where USA acquired the largest market share of 22.78% with a shipment value of 208.47 million USD in 2022 USA also offered the product above the average market price, but remained at the leadership position indicating the trust it holds in the Surgical Drills Market. In 2017 USA had the largest market share of 29.04% with the shipment value of 178.27 million USD. The country was offering its product with an average price which is higher than the average market price offered in the country. Although USA offers its product above the market average price, it remained at the leadership position indicating the brand value it holds in the India Surgical Drills Market in 2017.
