Australia: Orthopedic Artificial Joints Market 2024

Orthopedic Artificial Joints Market Size in Australia

After ten years of growth, the Australian orthopedic artificial joints market decreased by -73.1% to $X in 2022. In general, consumption continues to indicate a dramatic shrinkage. As a result, consumption attained the peak level of $X, and then dropped markedly in the following year.

Orthopedic Artificial Joints Exports

Exports from Australia

Orthopedic artificial joints exports from Australia surged to X units in 2022, picking up by 265% against the year before. In general, exports posted significant growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, orthopedic artificial joints exports rose rapidly to $X in 2022. Over the period under review, exports posted significant growth. The pace of growth was the most pronounced in 2017 when exports increased by 150% against the previous year. The exports peaked at $X in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

Exports by Country

Belgium (X units) was the main destination for orthopedic artificial joints exports from Australia, with a 39% share of total exports. Moreover, orthopedic artificial joints exports to Belgium exceeded the volume sent to the second major destination, the United States (X units), threefold. Vietnam (X units) ranked third in terms of total exports with an 11% share.

From 2020 to 2022, the average annual growth rate of volume to Belgium amounted to +216.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+8.9% per year) and Vietnam (+378.2% per year).

In value terms, Belgium ($X) emerged as the key foreign market for artificial joints for orthopedic purposes exports from Australia, comprising 40% of total exports. The second position in the ranking was held by the United States ($X), with a 15% share of total exports. It was followed by Vietnam, with an 11% share.

From 2020 to 2022, the average annual rate of growth in terms of value to Belgium amounted to +78.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (-38.6% per year) and Vietnam (+171.3% per year).

Export Prices by Country

The average orthopedic artificial joints export price stood at $X per unit in 2022, reducing by -69.7% against the previous year. Over the period under review, the export price faced a sharp reduction. The most prominent rate of growth was recorded in 2021 an increase of 5.7%. As a result, the export price reached the peak level of $X per unit, and then dropped remarkably in the following year.

Average prices varied noticeably for the major foreign markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Belgium ($X per unit) and Vietnam ($X per unit), while the average price for exports to France ($X per unit) and the Netherlands ($X per unit) were amongst the lowest.

From 2020 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the Netherlands (-43.0%), while the prices for the other major destinations experienced a decline.

Orthopedic Artificial Joints Imports

Imports into Australia

After ten years of growth, supplies from abroad of artificial joints for orthopedic purposes decreased by -94.4% to X units in 2022. Overall, imports showed a sharp contraction. The growth pace was the most rapid in 2021 with an increase of 452%. As a result, imports reached the peak of X units, and then shrank notably in the following year.

In value terms, orthopedic artificial joints imports rose significantly to $X in 2022. The total import value increased at an average annual rate of +2.7% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2021 when imports increased by 26% against the previous year. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in the near future.

Imports by Country

The United States (X units), Ireland (X units) and Switzerland (X units) were the main suppliers of orthopedic artificial joints imports to Australia, together accounting for 67% of total imports. France, the UK, Germany and Italy lagged somewhat behind, together comprising a further 29%.

From 2020 to 2022, the biggest increases were recorded for the UK (with a CAGR of -24.3%), while purchases for the other leaders experienced a decline.

In value terms, the largest orthopedic artificial joints suppliers to Australia were the United States ($X), Ireland ($X) and Switzerland ($X), with a combined 67% share of total imports. France, the UK, Germany and Italy lagged somewhat behind, together accounting for a further 29%.

In terms of the main suppliers, the UK, with a CAGR of +72.9%, recorded 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

In 2022, the average orthopedic artificial joints import price amounted to $X per unit, increasing by 1,819% against the previous year. In general, the import price posted a significant expansion. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were Switzerland ($X per unit) and the United States ($X per unit), while the price for Italy ($X per unit) and Germany ($X per unit) were amongst the lowest.

From 2020 to 2022, the most notable rate of growth in terms of prices was attained by the UK (+128.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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