Asia: Orthopaedic Appliances Market 2024

Orthopaedic Appliances Market Size in Asia

The Asian orthopaedic appliances market reduced slightly to $X in 2022, remaining stable against the previous year. The total consumption indicated a moderate increase from 2012 to 2022: its value increased at an average annual rate of +3.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -4.2% against 2020 indices. Over the period under review, the market attained the maximum level at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Orthopaedic Appliances Production in Asia

In value terms, orthopaedic appliances production rose slightly to $X in 2022 estimated in export price. The total production indicated a notable expansion from 2012 to 2022: its value increased at an average annual rate of +3.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -3.5% against 2020 indices. The pace of growth was the most pronounced in 2014 when the production volume increased by 34% against the previous year. Over the period under review, production reached the maximum level at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Orthopaedic Appliances Exports

Exports in Asia

In 2022, the amount of orthopaedic appliances and splints exported in Asia stood at X tons, increasing by 4.5% compared with 2021 figures. Overall, exports posted resilient growth. The growth pace was the most rapid in 2014 with an increase of 76% against the previous year. Over the period under review, the exports attained the peak figure in 2022 and are expected to retain growth in the near future.

In value terms, orthopaedic appliances exports amounted to $X in 2022. Over the period under review, exports saw a strong increase. The most prominent rate of growth was recorded in 2014 with an increase of 27%. Over the period under review, the exports hit record highs in 2022 and are likely to see steady growth in the near future.

Exports by Country

China prevails in exports structure, resulting at X tons, which was near 84% of total exports in 2022. It was distantly followed by Taiwan (Chinese) (X tons), generating a 6.5% share of total exports. Vietnam (X tons) and Turkey (X tons) held a little share of total exports.

From 2012 to 2022, average annual rates of growth with regard to orthopaedic appliances exports from China stood at +12.1%. At the same time, Vietnam (+26.9%) and Turkey (+12.1%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing exporter exported in Asia, with a CAGR of +26.9% from 2012-2022. Taiwan (Chinese) experienced a relatively flat trend pattern. While the share of China (+9.7 p.p.) and Vietnam (+3.3 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Taiwan (Chinese) (-12.2 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest orthopaedic appliances supplier in Asia, comprising 58% of total exports. The second position in the ranking was taken by Taiwan (Chinese) ($X), with a 12% share of total exports. It was followed by Vietnam, with a 5.5% share.

In China, orthopaedic appliances exports expanded at an average annual rate of +6.2% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Taiwan (Chinese) (+3.3% per year) and Vietnam (+27.9% per year).

Export Prices by Country

The export price in Asia stood at $X per ton in 2022, rising by 2.1% against the previous year. Overall, the export price, however, showed a noticeable decline. The growth pace was the most rapid in 2020 an increase of 23% against the previous year. The level of export peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Turkey ($X per ton), while China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+3.7%), while the other leaders experienced mixed trends in the export price figures.

Orthopaedic Appliances Imports

Imports in Asia

In 2022, imports of orthopaedic appliances and splints in Asia reduced modestly to X tons, which is down by -3.2% against 2021. Total imports indicated a noticeable expansion from 2012 to 2022: its volume increased at an average annual rate of +3.5% 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 +11.5% against 2020 indices. The pace of growth appeared the most rapid in 2018 when imports increased by 20% against the previous year. The volume of import peaked at X tons in 2019; however, from 2020 to 2022, imports failed to regain momentum.

In value terms, orthopaedic appliances imports contracted to $X in 2022. Total imports indicated a measured increase from 2012 to 2022: its value increased at an average annual rate of +3.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -12.9% against 2019 indices. The growth pace was the most rapid in 2018 with an increase of 19% against the previous year. The level of import peaked at $X in 2019; however, from 2020 to 2022, imports failed to regain momentum.

Imports by Country

The purchases of the three major importers of orthopaedic appliances and splints, namely Japan, South Korea and Singapore, represented more than third of total import. Taiwan (Chinese) (X tons) held the next position in the ranking, followed by Indonesia (X tons), Israel (X tons) and China (X tons). All these countries together took near 21% share of total imports. The following importers - India (X tons), Saudi Arabia (X tons), Malaysia (X tons), Iraq (X tons), Turkey (X tons) and the Philippines (X tons) - together made up 18% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Indonesia (with a CAGR of +33.7%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest orthopaedic appliances importing markets in Asia were Japan ($X), China ($X) and Singapore ($X), together accounting for 65% of total imports. Saudi Arabia, Taiwan (Chinese), Israel, Turkey, South Korea, India, Indonesia, Iraq, Malaysia and the Philippines lagged somewhat behind, together accounting for a further 19%.

In terms of the main importing countries, Indonesia, with a CAGR of +32.5%, saw the highest growth rate of 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 ton in 2022, approximately reflecting the previous year. Overall, the import price continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2013 an increase of 19%. The level of import peaked at $X per ton in 2014; however, from 2015 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 ($X per ton), while the Philippines ($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

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