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Hong Kong SAR, China - Artificial Parts Of The Body (Excl. Artificial Teeth And Dental Fittings And Artificial Joints) - Market Analysis, Forecast, Size, Trends and Insights
Report Update: Nov 1, 2024

Hong Kong SAR, China - Artificial Parts Of The Body (Excl. Artificial Teeth And Dental Fittings And Artificial Joints) - Market Analysis, Forecast, Size, Trends and Insights

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Dec 30, 2023

Hong Kongs Sees Surge in $52M Export of Orthopedic Prosthetics in October 2023

Hong Kong Orthopedic Prosthetics Exports

In October 2023, overseas shipments of artificial parts of the body (excl. artificial teeth and dental fittings and artificial joints) increased by 16% to 19K units for the first time since May 2023, thus ending a four-month declining trend. Over the period under review, exports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in February 2023 with an increase of 45% m-o-m. The exports peaked at 27K units in May 2023; however, from June 2023 to October 2023, the exports remained at a lower figure.

In value terms, orthopedic prosthetics exports skyrocketed to $52M (IndexBox estimates) in October 2023. Overall, exports saw a buoyant increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.Hong Kong Orthopedic Prosthetics Exports By Country (Million USD)

COUNTRYExport Value of Orthopedic Prosthetics in Hong Kong (million USD)
Oct 2022Nov 2022Dec 2022Jan 2023Feb 2023Mar 2023Apr 2023May 2023Jun 2023Jul 2023Aug 2023Sep 2023Oct 2023
China17.119.49.213.416.425.915.135.527.827.434.015.540.2
South Korea1.90.92.82.01.61.82.13.51.22.32.90.63.8
India1.61.51.70.81.52.31.92.93.12.41.43.22.3
Australia2.20.30.50.50.71.51.71.64.21.31.11.41.5
Taiwan (Chinese)1.81.31.51.11.21.31.71.61.21.42.31.41.0
Malaysia0.50.40.61.40.70.81.20.70.20.50.40.50.4
United States< 0.10.2< 0.1< 0.10.1< 0.1< 0.1< 0.10.10.10.20.50.1
Others3.42.93.11.13.74.13.72.73.76.33.53.62.9
Total28.626.919.620.426.037.827.448.641.641.845.926.852.3

Exports by Country

China (8.7K units) was the main destination for orthopedic prosthetics exports from Hong Kong, accounting for a 45% share of total exports. Moreover, orthopedic prosthetics exports to China exceeded the volume sent to the second major destination, South Korea (3.5K units), twofold. India (2.6K units) ranked third in terms of total exports with a 13% share.

From October 2022 to October 2023, the average monthly growth rate of volume to China was relatively modest. Exports to the other major destinations recorded the following average monthly rates of exports growth: South Korea (+9.5% per month) and India (-1.2% per month).

In value terms, China ($40M) remains the key foreign market for orthopedic prosthetics exports from Hong Kong, comprising 77% of total exports. The second position in the ranking was taken by South Korea ($3.8M), with a 7.3% share of total exports. It was followed by India, with a 4.4% share.

From October 2022 to October 2023, the average monthly growth rate of value to China totaled +7.4%. Exports to the other major destinations recorded the following average monthly rates of exports growth: South Korea (+5.7% per month) and India (+2.9% per month).

Export Prices by Country

In October 2023, the orthopedic prosthetics price stood at $2,713 per unit (FOB, Hong Kong), rising by 69% against the previous month. Over the period under review, export price indicated strong growth from October 2022 to October 2023: its price increased at an average monthly rate of +5.2% over the last twelve-month period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on October 2023 figures, orthopedic prosthetics export price increased by +68.6% against September 2023 indices. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major export markets. In October 2023, the country with the highest price was China ($4,618 per unit), while the average price for exports to the United States ($308 per unit) was amongst the lowest.

From October 2022 to October 2023, the most notable rate of growth in terms of prices was recorded for supplies to China (+7.6%), while the prices for the other major destinations experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the orthopedic prosthetics market in Hong Kong SAR, China. 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 32502290 - Artificial parts of the body (excluding artificial teeth and dental fittings, artificial joints, orthopaedic and fracture appliances, h eart pacemakers)

Country coverage:

  • Hong Kong SAR

Data coverage:

  • Market volume and value
  • Per Capita consumption
  • Forecast of the market dynamics in the medium term
  • Trade (exports and imports) in Hong Kong SAR, China
  • 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:

  1. How to diversify your business and benefit from new market opportunities
  2. How to load your idle production capacity
  3. How to boost your sales on overseas markets
  4. How to increase your profit margins
  5. How to make your supply chain more sustainable
  6. How to reduce your production and supply chain costs
  7. How to outsource production to other countries
  8. 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.

  1. 1. INTRODUCTION

    Making Data-Driven Decisions to Grow Your Business

    1. REPORT DESCRIPTION
    2. RESEARCH METHODOLOGY AND AI PLATFORM
    3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
    4. GLOSSARY AND SPECIFIC TERMS

  2. 2. EXECUTIVE SUMMARY

    A Quick Overview of Market Performance

    1. KEY FINDINGS
    2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO

  3. 3. MARKET OVERVIEW

    Understanding the Current State of The Market and Its Prospects

    1. MARKET SIZE
    2. MARKET STRUCTURE
    3. TRADE BALANCE
    4. PER CAPITA CONSUMPTION
    5. MARKET FORECAST TO 2030

  4. 4. MOST PROMISING PRODUCT

    Finding New Products to Diversify Your Business

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
    2. BEST-SELLING PRODUCTS
    3. MOST CONSUMED PRODUCT
    4. MOST TRADED PRODUCT
    5. MOST PROFITABLE PRODUCT FOR EXPORT

  5. 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
    1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
    2. TOP PRODUCING COUNTRIES
    3. TOP EXPORTING COUNTRIES
    4. LOW-COST EXPORTING COUNTRIES

  6. 6. MOST PROMISING OVERSEAS MARKETS

    Choosing the Best Countries to Boost Your Exports

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
    2. TOP CONSUMING MARKETS
    3. UNSATURATED MARKETS
    4. TOP IMPORTING MARKETS
    5. MOST PROFITABLE MARKETS

  7. 7. PRODUCTION

    The Latest Trends and Insights into The Industry

    1. PRODUCTION VOLUME AND VALUE

  8. 8. IMPORTS

    The Largest Import Supplying Countries

    1. IMPORTS FROM 2012–2023
    2. IMPORTS BY COUNTRY
    3. IMPORT PRICES BY COUNTRY

  9. 9. EXPORTS

    The Largest Destinations for Exports

    1. EXPORTS FROM 2012–2023
    2. EXPORTS BY COUNTRY
    3. EXPORT PRICES BY COUNTRY

  10. 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. LIST OF TABLES

    1. Key Findings In 2023
    2. Market Volume, In Physical Terms, 2012–2023
    3. Market Value, 2012–2023
    4. Per Capita Consumption In 2012-2023
    5. Imports, In Physical Terms, By Country, 2012–2023
    6. Imports, In Value Terms, By Country, 2012–2023
    7. Import Prices, By Country Of Origin, 2012–2023
    8. Exports, In Physical Terms, By Country, 2012–2023
    9. Exports, In Value Terms, By Country, 2012–2023
    10. Export Prices, By Country Of Destination, 2012–2023

  12. LIST OF FIGURES

    1. Market Volume, In Physical Terms, 2012–2023
    2. Market Value, 2012–2023
    3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
    4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
    5. Trade Balance, In Physical Terms, 2012-2023
    6. Trade Balance, In Value Terms, 2012-2023
    7. Per Capita Consumption, 2012-2023
    8. Market Volume Forecast to 2030
    9. Market Value Forecast to 2030
    10. Products: Market Size And Growth, By Type
    11. Products: Average Per Capita Consumption, By Type
    12. Products: Exports And Growth, By Type
    13. Products: Export Prices And Growth, By Type
    14. Production Volume And Growth
    15. Exports And Growth
    16. Export Prices And Growth
    17. Market Size And Growth
    18. Per Capita Consumption
    19. Imports And Growth
    20. Import Prices
    21. Production, In Physical Terms, 2012–2023
    22. Production, In Value Terms, 2012–2023
    23. Imports, In Physical Terms, 2012–2023
    24. Imports, In Value Terms, 2012–2023
    25. Imports, In Physical Terms, By Country, 2023
    26. Imports, In Physical Terms, By Country, 2012–2023
    27. Imports, In Value Terms, By Country, 2012–2023
    28. Import Prices, By Country Of Origin, 2012–2023
    29. Exports, In Physical Terms, 2012–2023
    30. Exports, In Value Terms, 2012–2023
    31. Exports, In Physical Terms, By Country, 2023
    32. Exports, In Physical Terms, By Country, 2012–2023
    33. Exports, In Value Terms, By Country, 2012–2023
    34. Export Prices, By Country Of Destination, 2012–2023

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