Bangladesh: Orthopaedic Appliances Market 2024

Orthopaedic Appliances Market Size in Bangladesh

The Bangladeshi orthopaedic appliances market amounted to $X in 2022, with an increase of 10% against the previous year. Over the period under review, the total consumption indicated a pronounced expansion from 2012 to 2022: its value increased at an average annual rate of +4.6% 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 -8.2% against 2020 indices. As a result, consumption attained the peak level of $X. From 2021 to 2022, the growth of the market failed to regain momentum.

Orthopaedic Appliances Production in Bangladesh

In value terms, orthopaedic appliances production expanded sharply to $X in 2022 estimated in export price. Overall, the total production indicated a strong expansion from 2012 to 2022: its value increased at an average annual rate of +5.1% 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 -8.7% against 2020 indices. The growth pace was the most rapid in 2020 with an increase of 54% against the previous year. As a result, production reached the peak level of $X. From 2021 to 2022, production growth remained at a somewhat lower figure.

Orthopaedic Appliances Exports

Exports from Bangladesh

In 2022, approx. X tons of orthopaedic appliances and splints were exported from Bangladesh; shrinking by -24.2% on 2021. Over the period under review, exports, however, posted a strong expansion. The most prominent rate of growth was recorded in 2019 with an increase of 230% against the previous year. The exports peaked at X tons in 2021, and then shrank dramatically in the following year.

In value terms, orthopaedic appliances exports dropped to $X in 2022. Overall, exports, however, showed strong growth. The most prominent rate of growth was recorded in 2019 with an increase of 81% against the previous year. Over the period under review, the exports reached the maximum at $X in 2021, and then reduced in the following year.

Exports by Country

The United States (X tons) was the main destination for orthopaedic appliances exports from Bangladesh, accounting for a 83% share of total exports. Moreover, orthopaedic appliances exports to the United States exceeded the volume sent to the second major destination, Canada (X tons), more than tenfold. The third position in this ranking was held by Germany (X tons), with a 5.4% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United States amounted to +9.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Canada (+119.8% per year) and Germany (+8.9% per year).

In value terms, the United States ($X) remains the key foreign market for orthopaedic appliances and splints exports from Bangladesh, comprising 75% of total exports. The second position in the ranking was held by Germany ($X), with a 15% share of total exports. It was followed by Canada, with a 5.3% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States amounted to +15.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+16.2% per year) and Canada (+132.6% per year).

Export Prices by Country

In 2022, the average orthopaedic appliances export price amounted to $X per ton, picking up by 15% against the previous year. Over the period under review, the export price showed a pronounced expansion. The growth pace was the most rapid in 2014 when the average export price increased by 90% against the previous year. Over the period under review, the average export prices reached the maximum at $X per ton in 2017; however, from 2018 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Germany ($X per ton), while the average price for exports to Poland ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Germany (+6.8%), while the prices for the other major destinations experienced more modest paces of growth.

Orthopaedic Appliances Imports

Imports into Bangladesh

For the third year in a row, Bangladesh recorded growth in overseas purchases of orthopaedic appliances and splints, which increased by 7.4% to X tons in 2022. In general, imports, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 with an increase of 69% against the previous year. Imports peaked at X tons in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, orthopaedic appliances imports rose notably to $X in 2022. Overall, imports continue to indicate a buoyant expansion. The most prominent rate of growth was recorded in 2017 when imports increased by 63% against the previous year. Imports peaked at $X in 2018; however, from 2019 to 2022, imports failed to regain momentum.

Imports by Country

China (X tons), Taiwan (Chinese) (X tons) and India (X tons) were the main suppliers of orthopaedic appliances imports to Bangladesh, with a combined 98% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Taiwan (Chinese) (with a CAGR of +18.5%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest orthopaedic appliances suppliers to Bangladesh were India ($X), China ($X) and Taiwan (Chinese) ($X), together comprising 81% of total imports.

India, with a CAGR of +61.0%, recorded the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average orthopaedic appliances import price stood at $X per ton in 2022, stabilizing at the previous year. Overall, the import price, however, saw a strong increase. The most prominent rate of growth was recorded in 2016 when the average import price increased by 78% against the previous year. Over the period under review, average import prices attained the peak figure at $X per ton in 2018; however, from 2019 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 Australia ($X per ton), while the price for Taiwan (Chinese) ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+46.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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