Asia-Pacific: Orthopaedic Appliances Market 2024

Orthopaedic Appliances Market Size in Asia-Pacific

The Asia-Pacific orthopaedic appliances market reduced slightly to $X in 2022, remaining relatively unchanged against the previous year. The market value increased at an average annual rate of +3.0% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The level of consumption peaked at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Orthopaedic Appliances Production in Asia-Pacific

In value terms, orthopaedic appliances production reached $X in 2022 estimated in export price. The total production indicated a tangible expansion 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, production decreased by -3.8% against 2020 indices. The most prominent rate of growth was recorded in 2014 when the production volume increased by 36% against the previous year. The level of production peaked at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Orthopaedic Appliances Exports

Exports in Asia-Pacific

In 2022, exports of orthopaedic appliances and splints in Asia-Pacific expanded modestly to X tons, surging by 4.2% compared with the previous year's figure. In general, exports continue to indicate a remarkable increase. The pace of growth appeared the most rapid in 2014 when exports increased by 78%. The volume of export peaked in 2022 and is expected to retain growth in the immediate term.

In value terms, orthopaedic appliances exports rose markedly to $X in 2022. Over the period under review, exports showed a strong increase. The pace of growth was the most pronounced in 2014 with an increase of 27% against the previous year. The level of export peaked in 2022 and is expected to retain growth in the near future.

Exports by Country

China dominates exports structure, amounting to X tons, which was near 86% of total exports in 2022. Taiwan (Chinese) (X tons) ranks second in terms of the total exports with a 6.7% share, followed by Vietnam (4.5%).

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%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing exporter exported in Asia-Pacific, with a CAGR of +26.9% from 2012-2022. Taiwan (Chinese) experienced a relatively flat trend pattern. While the share of China (+10 p.p.) and Vietnam (+3.4 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Taiwan (Chinese) (-12.3 p.p.) displayed negative dynamics.

In value terms, China ($X) remains the largest orthopaedic appliances supplier in Asia-Pacific, comprising 61% of total exports. The second position in the ranking was held by Taiwan (Chinese) ($X), with a 13% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value in China amounted to +6.2%. 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

In 2022, the export price in Asia-Pacific amounted to $X per ton, rising by 1.8% against the previous year. Over the period under review, the export price, however, recorded a perceptible decrease. The most prominent rate of growth was recorded in 2020 an increase of 24%. Over the period under review, the export prices attained the maximum 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 Taiwan (Chinese) ($X per ton), while China ($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-Pacific

In 2022, imports of orthopaedic appliances and splints in Asia-Pacific dropped slightly to X tons, falling by -4.1% on the year before. Total imports indicated a measured expansion from 2012 to 2022: its volume increased at an average annual rate of +3.0% 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 +11.2% against 2020 indices. The most prominent rate of growth was recorded in 2018 when imports increased by 19% against the previous year. The volume of import peaked at X tons in 2021, and then dropped modestly in the following year.

In value terms, orthopaedic appliances imports dropped to $X in 2022. Total imports indicated a tangible increase 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, imports decreased by -12.3% against 2019 indices. The most prominent rate of growth was recorded in 2018 when imports increased by 20%. Over the period under review, imports hit record highs at $X in 2019; however, from 2020 to 2022, imports remained at a lower figure.

Imports by Country

Australia (X tons), Japan (X tons), South Korea (X tons) and Singapore (X tons) represented roughly 65% of total imports in 2022. Taiwan (Chinese) (X tons) held the next position in the ranking, followed by Indonesia (X tons) and China (X tons). All these countries together held near 17% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main 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-Pacific were Japan ($X), China ($X) and Australia ($X), with a combined 75% share of total imports. Singapore, Taiwan (Chinese), South Korea and Indonesia lagged somewhat behind, together comprising a further 11%.

Among the main importing countries, Indonesia, with a CAGR of +32.5%, 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-Pacific stood at $X per ton in 2022, shrinking by -2% against the previous year. Overall, the import price, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 an increase of 17%. Over the period under review, import prices attained the maximum at $X per ton in 2014; however, from 2015 to 2022, import prices stood at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (+4.5%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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