ASEAN: Orthopaedic Appliances Market 2024

Orthopaedic Appliances Market Size in ASEAN

The ASEAN orthopaedic appliances market expanded notably to $X in 2022, with an increase of 13% against the previous year. Overall, consumption recorded a remarkable increase. As a result, consumption attained the peak level of $X. From 2021 to 2022, the growth of the market failed to regain momentum.

Orthopaedic Appliances Production in ASEAN

In value terms, orthopaedic appliances production stood at $X in 2022 estimated in export price. In general, production recorded buoyant growth. The most prominent rate of growth was recorded in 2020 when the production volume increased by 80% against the previous year. As a result, production reached the peak level of $X. From 2021 to 2022, production growth remained at a lower figure.

Orthopaedic Appliances Exports

Exports in ASEAN

In 2022, approx. X tons of orthopaedic appliances and splints were exported in ASEAN; reducing by -18.3% against the previous year's figure. In general, exports, however, enjoyed a significant increase. The growth pace was the most rapid in 2017 with an increase of 71% against the previous year. Over the period under review, the exports hit record highs at X tons in 2021, and then fell sharply in the following year.

In value terms, orthopaedic appliances exports declined to $X in 2022. Over the period under review, exports, however, saw a prominent expansion. The growth pace was the most rapid in 2016 with an increase of 75%. Over the period under review, the exports hit record highs at $X in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

In 2022, Vietnam (X tons) was the key exporter of orthopaedic appliances and splints, generating 81% of total exports. It was distantly followed by Singapore (X tons) and Malaysia (X tons), together achieving an 18% share of total exports.

Vietnam was also the fastest-growing in terms of the orthopaedic appliances and splints exports, with a CAGR of +26.9% from 2012 to 2022. At the same time, Singapore (+10.1%) and Malaysia (+7.4%) displayed positive paces of growth. From 2012 to 2022, the share of Vietnam increased by +31 percentage points.

In value terms, Vietnam ($X), Singapore ($X) and Malaysia ($X) were the countries with the highest levels of exports in 2022, with a combined 97% share of total exports.

Among the main exporting countries, Vietnam, with a CAGR of +27.9%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the export price in ASEAN amounted to $X per ton, increasing by 8.3% against the previous year. Over the period under review, the export price, however, continues to indicate a perceptible reduction. The most prominent rate of growth was recorded in 2020 when the export price increased by 53% against the previous year. The level of export peaked at $X per ton in 2016; however, from 2017 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Malaysia ($X per ton), while Vietnam ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Malaysia (+4.1%), while the other leaders experienced more modest paces of growth.

Orthopaedic Appliances Imports

Imports in ASEAN

In 2022, approx. X tons of orthopaedic appliances and splints were imported in ASEAN; picking up by 20% against 2021. Overall, imports showed a buoyant increase. The most prominent rate of growth was recorded in 2016 with an increase of 38%. Over the period under review, imports reached the peak figure in 2022 and are likely to see gradual growth in years to come.

In value terms, orthopaedic appliances imports soared to $X in 2022. Over the period under review, imports posted prominent growth. The pace of growth appeared the most rapid in 2018 with an increase of 30% against the previous year. The level of import peaked in 2022 and is expected to retain growth in the near future.

Imports by Country

Singapore represented the main importer of orthopaedic appliances and splints in ASEAN, with the volume of imports finishing at X tons, which was approx. 44% of total imports in 2022. Indonesia (X tons) took a 21% share (based on physical terms) of total imports, which put it in second place, followed by Malaysia (12%), the Philippines (7.8%), Vietnam (7.2%) and Thailand (5%). Myanmar (X tons) followed a long way behind the leaders.

Imports into Singapore increased at an average annual rate of +11.0% from 2012 to 2022. At the same time, Indonesia (+33.7%), Vietnam (+21.3%), Thailand (+15.3%), the Philippines (+14.4%), Myanmar (+10.9%) and Malaysia (+9.1%) displayed positive paces of growth. Moreover, Indonesia emerged as the fastest-growing importer imported in ASEAN, with a CAGR of +33.7% from 2012-2022. Indonesia (+17 p.p.) and Vietnam (+3.4 p.p.) significantly strengthened its position in terms of the total imports, while Malaysia and Singapore saw its share reduced by -6% and -12% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Singapore ($X) constitutes the largest market for imported orthopaedic appliances and splints in ASEAN, comprising 41% of total imports. The second position in the ranking was taken by Thailand ($X), with a 19% share of total imports. It was followed by Vietnam, with an 18% share.

From 2012 to 2022, the average annual growth rate of value in Singapore stood at +11.3%. The remaining importing countries recorded the following average annual rates of imports growth: Thailand (+9.9% per year) and Vietnam (+21.6% per year).

Import Prices by Country

In 2022, the import price in ASEAN amounted to $X per ton, which is down by -3.8% against the previous year. In general, the import price recorded a relatively flat trend pattern. The growth pace was the most rapid in 2020 when the import price increased by 14% against the previous year. The level of import peaked at $X per ton in 2015; however, from 2016 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Thailand ($X per ton), while Myanmar ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Philippines (+9.2%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform