China: Orthopedic Artificial Joints Market 2024

Orthopedic Artificial Joints Market Size in China

In 2022, the Chinese orthopedic artificial joints market decreased by -17% to $X for the first time since 2011, thus ending a ten-year rising trend. In general, consumption, however, showed a significant expansion. As a result, consumption reached the peak level of $X, and then declined dramatically in the following year.

Orthopedic Artificial Joints Exports

Exports from China

In 2022, the amount of artificial joints for orthopedic purposes exported from China reached X units, increasing by 6.5% against the year before. Over the period under review, exports, however, saw a perceptible descent. Over the period under review, the exports reached the maximum at X units in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

In value terms, orthopedic artificial joints exports soared to $X in 2022. In general, exports saw a strong expansion. The most prominent rate of growth was recorded in 2017 with an increase of 44% against the previous year. Over the period under review, the exports attained the peak figure in 2022 and are likely to see gradual growth in years to come.

Exports by Country

The United States (X units), Belgium (X units) and India (X units) were the main destinations of orthopedic artificial joints exports from China, with a combined 65% share of total exports.

From 2020 to 2022, the biggest increases were recorded for India (with a CAGR of +181.6%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), Belgium ($X) and Ireland ($X) were the largest markets for orthopedic artificial joints exported from China worldwide, with a combined 71% share of total exports.

Among the main countries of destination, Ireland, with a CAGR of +424.1%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average orthopedic artificial joints export price amounted to $X per unit, growing by 27% against the previous year. In general, export price indicated a significant increase from 2020 to 2022: its price increased at an average annual rate of +37.1% over the last two years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, orthopedic artificial joints export price increased by +88.1% against 2020 indices. The most prominent rate of growth was recorded in 2021 when the average export price increased by 49%. Over the period under review, the average export prices hit record highs in 2022 and is likely to see gradual growth in the immediate term.

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

From 2020 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Ireland (+95.6%), while the prices for the other major destinations experienced more modest paces of growth.

Orthopedic Artificial Joints Imports

Imports into China

After ten years of growth, supplies from abroad of artificial joints for orthopedic purposes decreased by -0.1% to X units in 2022. Over the period under review, imports, however, continue to indicate a significant increase. The most prominent rate of growth was recorded in 2021 when imports increased by 503%. As a result, imports attained the peak of X units, leveling off in the following year.

In value terms, orthopedic artificial joints imports shrank rapidly to $X in 2022. Overall, imports, however, enjoyed a remarkable increase. The growth pace was the most rapid in 2013 with an increase of 28% against the previous year. Imports peaked at $X in 2021, and then reduced dramatically in the following year.

Imports by Country

In 2022, the United States (X units) constituted the largest orthopedic artificial joints supplier to China, accounting for a 52% share of total imports. Moreover, orthopedic artificial joints imports from the United States exceeded the figures recorded by the second-largest supplier, Germany (X units), twofold. The third position in this ranking was taken by Ireland (X units), with a 9.2% share.

From 2020 to 2022, the average annual growth rate of volume from the United States amounted to +177.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+110.0% per year) and Ireland (+127.8% per year).

In value terms, the largest orthopedic artificial joints suppliers to China were the United States ($X), Germany ($X) and Ireland ($X), together accounting for 81% of total imports. The UK, Switzerland and France lagged somewhat behind, together accounting for a further 16%.

Among the main suppliers, France, with a CAGR of +30.1%, 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 artificial joints import price stood at $X per unit in 2022, which is down by -16.3% against the previous year. Overall, the import price saw a sharp contraction. Over the period under review, average import prices hit record highs at $X per unit in 2020; however, from 2021 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was France ($X per unit), while the price for the United States ($X per unit) was amongst the lowest.

From 2020 to 2022, the most notable rate of growth in terms of prices was attained by France (-50.2%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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