Azerbaijan: Orthopedic Prosthetics Market 2024

Orthopedic Prosthetics Market Size in Azerbaijan

The Azerbaijani orthopedic prosthetics market soared to $X in 2022, increasing by 18% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption posted significant growth. Over the period under review, the market attained the maximum level in 2022 and is likely to continue growth in years to come.

Orthopedic Prosthetics Exports

Exports from Azerbaijan

In 2019, after four years of decline, there was significant decline in overseas shipments of artificial parts of the body (excl. artificial teeth and dental fittings and artificial joints), when their volume decreased by -15.4% to X units. Overall, exports saw a abrupt descent. The pace of growth was the most pronounced in 2014 when exports increased by 15% against the previous year. As a result, the exports reached the peak of X units. From 2015 to 2019, the growth of the exports failed to regain momentum.

In value terms, orthopedic prosthetics exports skyrocketed to $X in 2019. In general, exports recorded a abrupt slump. Over the period under review, the exports reached the peak figure at $X in 2013; however, from 2014 to 2019, the exports remained at a lower figure.

Exports by Country

Turkey (X units) was the main destination for orthopedic prosthetics exports from Azerbaijan, with a 78% share of total exports. Moreover, orthopedic prosthetics exports to Turkey exceeded the volume sent to the second major destination, Georgia (X units), sevenfold.

From 2013 to 2019, the average annual rate of growth in terms of volume to Turkey stood at -11.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Georgia (0.0% per year) and Italy (0.0% per year).

In value terms, Georgia ($X), Turkey ($X) and Italy ($X) constituted the largest markets for orthopedic prosthetics exported from Azerbaijan worldwide, together accounting for 91% of total exports.

In terms of the main countries of destination, Georgia, with a CAGR of 0.0%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

In 2019, the average orthopedic prosthetics export price amounted to $X per unit, picking up by 118% against the previous year. Overall, the export price, however, saw a noticeable decrease. Over the period under review, the average export prices reached the maximum at $X per unit in 2013; however, from 2014 to 2019, the export prices remained at a lower figure.

There were significant differences in the average prices for the major external markets. In 2019, amid the top suppliers, the country with the highest price was Georgia ($X per unit), while the average price for exports to Turkey ($X per unit) was amongst the lowest.

From 2013 to 2019, the most notable rate of growth in terms of prices was recorded for supplies to Turkey (-16.1%).

Orthopedic Prosthetics Imports

Imports into Azerbaijan

In 2022, purchases abroad of artificial parts of the body (excl. artificial teeth and dental fittings and artificial joints) increased by 27% to X units, rising for the second consecutive year after two years of decline. Overall, imports saw significant growth. The growth pace was the most rapid in 2013 with an increase of 303%. Over the period under review, imports reached the peak figure in 2022 and are likely to see gradual growth in the immediate term.

In value terms, orthopedic prosthetics imports totaled $X in 2022. Over the period under review, imports saw a significant increase. The most prominent rate of growth was recorded in 2021 with an increase of 195% against the previous year. Over the period under review, imports reached the peak figure in 2022 and are likely to continue growth in the near future.

Imports by Country

In 2022, the UK (X units) constituted the largest orthopedic prosthetics supplier to Azerbaijan, with a 32% share of total imports. Moreover, orthopedic prosthetics imports from the UK exceeded the figures recorded by the second-largest supplier, the United States (X units), threefold. The third position in this ranking was held by Germany (X units), with a 12% share.

From 2012 to 2022, the average annual growth rate of volume from the UK totaled +105.4%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+37.8% per year) and Germany (+23.7% per year).

In value terms, the UK ($X), the United States ($X) and Germany ($X) constituted the largest orthopedic prosthetics suppliers to Azerbaijan, together accounting for 62% of total imports.

Among the main suppliers, the UK, with a CAGR of +83.6%, 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 average orthopedic prosthetics import price stood at $X per unit in 2022, with a decrease of -10.8% against the previous year. Over the period under review, the import price recorded a noticeable curtailment. The pace of growth appeared the most rapid in 2014 an increase of 51%. Over the period under review, average import prices hit record highs at $X per unit in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Spain ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Spain (+15.4%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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