Canada: Orthopedic Prosthetics Market 2024

Orthopedic Prosthetics Market Size in Canada

In 2022, the Canadian orthopedic prosthetics market decreased by -0.2% to $X for the first time since 2019, thus ending a two-year rising trend. Overall, consumption, however, saw notable growth. Over the period under review, the market reached the maximum level at $X in 2021, and then declined in the following year.

Orthopedic Prosthetics Production in Canada

In value terms, orthopedic prosthetics production soared to $X in 2022 estimated in export price. Over the period under review, production enjoyed a noticeable expansion. The most prominent rate of growth was recorded in 2020 when the production volume increased by 108% against the previous year. Orthopedic prosthetics production peaked at $X in 2017; however, from 2018 to 2022, production remained at a lower figure.

Orthopedic Prosthetics Exports

Exports from Canada

For the sixth year in a row, Canada recorded decline in overseas shipments of artificial parts of the body (excl. artificial teeth and dental fittings and artificial joints), which decreased by -4.9% to X units in 2022. In general, exports showed a perceptible curtailment. The most prominent rate of growth was recorded in 2014 with an increase of 32%. The exports peaked at X units in 2016; however, from 2017 to 2022, the exports remained at a lower figure.

In value terms, orthopedic prosthetics exports declined to $X in 2022. Overall, exports continue to indicate a pronounced downturn. The growth pace was the most rapid in 2013 with an increase of 34% against the previous year. The exports peaked at $X in 2016; however, from 2017 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Italy (X units) was the main destination for orthopedic prosthetics exports from Canada, accounting for a 51% share of total exports. Moreover, orthopedic prosthetics exports to Italy exceeded the volume sent to the second major destination, the United States (X units), threefold. The third position in this ranking was taken by Germany (X units), with a 10% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Italy amounted to -3.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (-11.9% per year) and Germany (+25.5% per year).

In value terms, Italy ($X) remains the key foreign market for artificial parts of the body (excl. artificial teeth and dental fittings and artificial joints) exports from Canada, comprising 51% of total exports. The second position in the ranking was held by the United States ($X), with a 16% share of total exports. It was followed by Germany, with a 10% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Italy amounted to -2.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (-11.1% per year) and Germany (+26.7% per year).

Export Prices by Country

In 2022, the average orthopedic prosthetics export price amounted to $X per unit, with a decrease of -9.8% against the previous year. Over the last decade, it increased at an average annual rate of +1.6%. The pace of growth appeared the most rapid in 2018 an increase of 22%. The export price peaked at $X per unit in 2021, and then fell in the following year.

Average prices varied noticeably for the major export markets. In 2022, amid the top suppliers, the countries with the highest prices were Mexico ($X per unit) and the United States ($X per unit), while the average price for exports to the UK ($X per unit) and Germany ($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 Mexico (+19.4%), while the prices for the other major destinations experienced more modest paces of growth.

Orthopedic Prosthetics Imports

Imports into Canada

In 2022, the amount of artificial parts of the body (excl. artificial teeth and dental fittings and artificial joints) imported into Canada declined to X units, waning by -10.9% against 2021 figures. Over the period under review, imports, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2021 with an increase of 30% against the previous year. As a result, imports reached the peak of X units, and then shrank in the following year.

In value terms, orthopedic prosthetics imports contracted to $X in 2022. The total import value increased at an average annual rate of +1.7% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2021 with an increase of 35% against the previous year. As a result, imports reached the peak of $X, and then contracted in the following year.

Imports by Country

In 2022, the United States (X units) constituted the largest supplier of orthopedic prosthetics to Canada, accounting for a 56% 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 held by Costa Rica (X units), with a 7.7% share.

From 2012 to 2022, the average annual growth rate of volume from the United States was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Ireland (+0.4% per year) and Costa Rica (+9.1% per year).

In value terms, the United States ($X) constituted the largest supplier of artificial parts of the body (excl. artificial teeth and dental fittings and artificial joints) to Canada, comprising 56% of total imports. The second position in the ranking was held by Ireland ($X), with a 19% share of total imports. It was followed by Costa Rica, with a 7.7% share.

From 2012 to 2022, the average annual growth rate of value from the United States totaled +1.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Ireland (+1.2% per year) and Costa Rica (+9.9% per year).

Import Prices by Country

The average orthopedic prosthetics import price stood at $X per unit in 2022, with an increase of 3.5% against the previous year. Overall, the import price showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 when the average import price increased by 8%. The import price peaked in 2022 and is likely to see gradual growth in years to come.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (+0.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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