Australia: Orthopedic Prosthetics Market 2024

Orthopedic Prosthetics Market Size in Australia

The Australian orthopedic prosthetics market expanded remarkably to $X in 2022, growing by 5.4% against the previous year. Over the period under review, consumption saw a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2018 to 2022, the growth of the market failed to regain momentum.

Orthopedic Prosthetics Production in Australia

In value terms, orthopedic prosthetics production surged to $X in 2022 estimated in export price. In general, production saw a strong increase. The pace of growth was the most pronounced in 2020 with an increase of 227%. Orthopedic prosthetics production peaked at $X in 2017; however, from 2018 to 2022, production failed to regain momentum.

Orthopedic Prosthetics Exports

Exports from Australia

Orthopedic prosthetics exports from Australia reduced modestly to X units in 2022, stabilizing at 2021 figures. Overall, total exports indicated a buoyant expansion from 2012 to 2022: its volume increased at an average annual rate of +7.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +15.7% against 2020 indices. The most prominent rate of growth was recorded in 2013 when exports increased by 69%. The exports peaked at X units in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

In value terms, orthopedic prosthetics exports reduced to $X in 2022. Over the period under review, exports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 with an increase of 13%. The exports peaked at $X in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

Exports by Country

Germany (X units) was the main destination for orthopedic prosthetics exports from Australia, with a 58% share of total exports. Moreover, orthopedic prosthetics exports to Germany exceeded the volume sent to the second major destination, the United States (X units), threefold. The third position in this ranking was taken by New Zealand (X units), with a 6.6% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Germany amounted to +36.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+14.3% per year) and New Zealand (-6.5% per year).

In value terms, Germany ($X) remains the key foreign market for artificial parts of the body (excl. artificial teeth and dental fittings and artificial joints) exports from Australia, comprising 58% of total exports. The second position in the ranking was taken by the United States ($X), with a 22% share of total exports. It was followed by New Zealand, with a 6.6% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Germany totaled +27.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+7.2% per year) and New Zealand (-8.2% per year).

Export Prices by Country

The average orthopedic prosthetics export price stood at $X per unit in 2022, dropping by -5.9% against the previous year. In general, the export price saw a abrupt decline. The pace of growth appeared the most rapid in 2014 when the average export price increased by 27% against the previous year. The export price peaked at $X per unit in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

Average prices varied noticeably for the major foreign markets. In 2022, amid the top suppliers, the countries with the highest prices were the United States ($X per unit) and New Zealand ($X per unit), while the average price for exports to Singapore ($X per unit) and Canada ($X per unit) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Singapore (-0.0%), while the prices for the other major destinations experienced a decline.

Orthopedic Prosthetics Imports

Imports into Australia

In 2022, approx. X units of artificial parts of the body (excl. artificial teeth and dental fittings and artificial joints) were imported into Australia; waning by -3.8% on 2021. The total import volume increased at an average annual rate of +3.4% 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 2015 with an increase of 20% against the previous year. Over the period under review, imports hit record highs at X units in 2018; however, from 2019 to 2022, imports failed to regain momentum.

In value terms, orthopedic prosthetics imports stood at $X in 2022. Overall, imports continue to indicate a mild shrinkage. The growth pace was the most rapid in 2021 when imports increased by 11% against the previous year. Imports peaked at $X in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, the United States (X units) constituted the largest orthopedic prosthetics supplier to Australia, accounting for a 42% share of total imports. Moreover, orthopedic prosthetics imports from the United States exceeded the figures recorded by the second-largest supplier, Ireland (X units), threefold. The third position in this ranking was taken by Singapore (X units), with a 13% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from the United States stood at +4.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Ireland (+3.4% per year) and Singapore (+34.0% per year).

In value terms, the United States ($X) constituted the largest supplier of artificial parts of the body (excl. artificial teeth and dental fittings and artificial joints) to Australia, comprising 42% of total imports. The second position in the ranking was held by Ireland ($X), with a 13% share of total imports. It was followed by Singapore, with a 13% share.

From 2012 to 2022, the average annual rate of growth in terms of value from the United States was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Ireland (-6.0% per year) and Singapore (+17.9% per year).

Import Prices by Country

The average orthopedic prosthetics import price stood at $X per unit in 2022, rising by 5.1% against the previous year. In general, the import price, however, recorded a perceptible decrease. The most prominent rate of growth was recorded in 2017 when the average import price increased by 7.4% against the previous year. The import price peaked at $X per unit in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from Mexico ($X per unit) and the United States ($X per unit), while the price for Singapore ($X per unit) and the UK ($X per unit) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Costa Rica (+9.4%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :