Asia: Orthopedic Prosthetics Market 2024

Orthopedic Prosthetics Market Size in Asia

The Asian orthopedic prosthetics market expanded notably to $X in 2022, picking up by 6.1% against the previous year. The total consumption indicated a resilient increase from 2012 to 2022: its value increased at an average annual rate of +7.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +5.7% against 2019 indices. The level of consumption peaked in 2022 and is expected to retain growth in the near future.

Orthopedic Prosthetics Production in Asia

In value terms, orthopedic prosthetics production totaled $X in 2022 estimated in export price. Overall, production posted a buoyant expansion. The pace of growth appeared the most rapid in 2018 with an increase of 27%. The level of production peaked at $X in 2020; afterwards, it flattened through to 2022.

Orthopedic Prosthetics Exports

Exports in Asia

In 2022, the amount of artificial parts of the body (excl. artificial teeth and dental fittings and artificial joints) exported in Asia amounted to X units, surging by 6% against the year before. In general, exports posted a strong expansion. The pace of growth appeared the most rapid in 2013 with an increase of 26% against the previous year. The volume of export peaked in 2022 and is likely to see steady growth in the near future.

In value terms, orthopedic prosthetics exports dropped slightly to $X in 2022. Overall, exports recorded a prominent increase. The pace of growth appeared the most rapid in 2013 with an increase of 33%. Over the period under review, the exports attained the maximum at $X in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

Exports by Country

Singapore represented the main exporting country with an export of about X units, which resulted at 44% of total exports. China (X units) took the second position in the ranking, distantly followed by Hong Kong SAR (X units), Turkey (X units), Thailand (X units) and India (X units). All these countries together took approx. 47% share of total exports. Taiwan (Chinese) (X units) took a little share of total exports.

Exports from Singapore increased at an average annual rate of +15.1% from 2012 to 2022. At the same time, Thailand (+36.3%), India (+27.4%), Turkey (+19.9%), China (+14.5%) and Hong Kong SAR (+1.1%) displayed positive paces of growth. Moreover, Thailand emerged as the fastest-growing exporter exported in Asia, with a CAGR of +36.3% from 2012-2022. By contrast, Taiwan (Chinese) (-3.1%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Singapore, Thailand, China, Turkey and India increased by +11, +5.5, +3.8, +3.7 and +3.7 percentage points, respectively.

In value terms, Singapore ($X) remains the largest orthopedic prosthetics supplier in Asia, comprising 59% of total exports. The second position in the ranking was taken by Hong Kong SAR ($X), with a 20% share of total exports. It was followed by Thailand, with a 5.4% share.

In Singapore, orthopedic prosthetics exports increased at an average annual rate of +19.2% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Hong Kong SAR (+11.9% per year) and Thailand (+40.6% per year).

Export Prices by Country

The export price in Asia stood at $X per unit in 2022, shrinking by -8.7% against the previous year. Export price indicated a temperate increase from 2012 to 2022: its price increased at an average annual rate of +3.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, orthopedic prosthetics export price decreased by -10.2% against 2020 indices. The most prominent rate of growth was recorded in 2018 when the export price increased by 16% against the previous year. The level of export peaked at $X per unit in 2020; however, from 2021 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Hong Kong SAR ($X per unit), while China ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+10.7%), while the other leaders experienced more modest paces of growth.

Orthopedic Prosthetics Imports

Imports in Asia

In 2022, the amount of artificial parts of the body (excl. artificial teeth and dental fittings and artificial joints) imported in Asia totaled X units, picking up by 14% against the previous year. Total imports indicated a prominent expansion from 2012 to 2022: its volume increased at an average annual rate of +6.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +32.3% against 2020 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 16%. The volume of import peaked in 2022 and is likely to see steady growth in years to come.

In value terms, orthopedic prosthetics imports stood at $X in 2022. Total imports indicated pronounced growth from 2012 to 2022: its value increased at an average annual rate of +4.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +29.4% against 2020 indices. The pace of growth was the most pronounced in 2021 with an increase of 27% against the previous year. The level of import peaked in 2022 and is expected to retain growth in years to come.

Imports by Country

In 2022, Japan (X units), China (X units) and Turkey (X units) represented the largest importer of artificial parts of the body (excl. artificial teeth and dental fittings and artificial joints) in Asia, achieving 42% of total import. South Korea (X units) held a 7.4% share (based on physical terms) of total imports, which put it in second place, followed by Hong Kong SAR (7.3%), India (6.1%), Thailand (5.1%) and Taiwan (Chinese) (5%). Iran (X units), Malaysia (X units), Singapore (X units), Bangladesh (X units) and Vietnam (X units) took a minor share of total imports.

From 2012 to 2022, the biggest increases were recorded for Bangladesh (with a CAGR of +28.5%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, China ($X), Japan ($X) and South Korea ($X) constituted the countries with the highest levels of imports in 2022, together accounting for 61% of total imports.

Among the main importing countries, South Korea, with a CAGR of +16.6%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Asia stood at $X per unit in 2022, declining by -10.2% against the previous year. Overall, the import price continues to indicate a slight contraction. The growth pace was the most rapid in 2021 when the import price increased by 8.9% against the previous year. Over the period under review, import prices hit record highs at $X per unit in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (+6.0%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :