Eastern Asia: Orthopedic Prosthetics Market 2024

Orthopedic Prosthetics Market Size in Eastern Asia

The East Asian orthopedic prosthetics market fell slightly to $X in 2022, approximately equating the previous year. The total consumption indicated a prominent expansion from 2012 to 2022: its value increased at an average annual rate of +5.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +66.0% against 2015 indices. Over the period under review, the market attained the peak level at $X in 2021, and then declined slightly in the following year.

Orthopedic Prosthetics Production in Eastern Asia

In value terms, orthopedic prosthetics production dropped to $X in 2022 estimated in export price. The total production indicated moderate growth from 2012 to 2022: its value increased at an average annual rate of +4.8% 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 -1.0% against 2019 indices. The pace of growth appeared the most rapid in 2019 with an increase of 30% against the previous year. As a result, production reached the peak level of $X; afterwards, it flattened through to 2022.

Orthopedic Prosthetics Exports

Exports in Eastern Asia

In 2022, orthopedic prosthetics exports in Eastern Asia skyrocketed to X units, with an increase of 34% against the previous year's figure. Total exports indicated a remarkable increase from 2012 to 2022: its volume increased at an average annual rate of +6.7% 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 +23.1% against 2019 indices. The growth pace was the most rapid in 2016 with an increase of 35%. The volume of export peaked in 2022 and is expected to retain growth in the near future.

In value terms, orthopedic prosthetics exports soared to $X in 2022. In general, exports showed a remarkable increase. The most prominent rate of growth was recorded in 2016 with an increase of 36%. The level of export peaked in 2022 and is likely to continue growth in years to come.

Exports by Country

In 2022, China (X units) represented the major exporter of artificial parts of the body (excl. artificial teeth and dental fittings and artificial joints), achieving 54% of total exports. Hong Kong SAR (X units) took the second position in the ranking, distantly followed by Taiwan (Chinese) (X units), Japan (X units) and South Korea (X units). All these countries together held near 46% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Japan (with a CAGR of +14.7%), while the other leaders experienced more modest paces of growth.

In value terms, Hong Kong SAR ($X) remains the largest orthopedic prosthetics supplier in Eastern Asia, comprising 75% of total exports. The second position in the ranking was taken by China ($X), with a 9.5% share of total exports. It was followed by Japan, with a 6.9% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Hong Kong SAR amounted to +11.9%. In the other countries, the average annual rates were as follows: China (+13.9% per year) and Japan (+8.3% per year).

Export Prices by Country

The export price in Eastern Asia stood at $X per unit in 2022, reducing by -8.5% against the previous year. Export price indicated a notable increase from 2012 to 2022: its price increased at an average annual rate of +4.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, orthopedic prosthetics export price increased by +70.3% against 2014 indices. The most prominent rate of growth was recorded in 2021 an increase of 20%. As a result, the export price reached the peak level of $X per unit, and then dropped in the following year.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Hong Kong SAR ($X per unit), while China ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+10.7%), while the other leaders experienced more modest paces of growth.

Orthopedic Prosthetics Imports

Imports in Eastern Asia

In 2022, overseas purchases of artificial parts of the body (excl. artificial teeth and dental fittings and artificial joints) increased by 10% to X units, rising for the second year in a row after two years of decline. Total imports indicated buoyant growth from 2012 to 2022: its volume increased at an average annual rate of +7.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +35.4% against 2020 indices. The growth pace was the most rapid in 2021 when imports increased by 23%. Over the period under review, imports reached the peak figure in 2022 and are expected to retain growth in the immediate term.

In value terms, orthopedic prosthetics imports reached $X in 2022. Total imports indicated a moderate increase from 2012 to 2022: its value increased at an average annual rate of +4.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +26.4% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of 24%. The level of import peaked in 2022 and is likely to see steady growth in years to come.

Imports by Country

In 2022, Japan (X units) and China (X units) represented the largest importers of artificial parts of the body (excl. artificial teeth and dental fittings and artificial joints) in Eastern Asia, together recording approx. 60% of total imports. South Korea (X units) took a 15% share (based on physical terms) of total imports, which put it in second place, followed by Hong Kong SAR (15%) and Taiwan (Chinese) (10%).

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by South Korea (with a CAGR of +10.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X), Japan ($X) and South Korea ($X) were the countries with the highest levels of imports in 2022, together comprising 89% of total imports.

South Korea, with a CAGR of +16.6%, saw the highest rates of growth with regard to the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Eastern Asia stood at $X per unit in 2022, which is down by -8% against the previous year. Over the period under review, the import price continues to indicate a noticeable curtailment. The growth pace was the most rapid in 2018 an increase of 9.9%. Over the period under review, import prices hit record highs at $X per unit in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was China ($X per unit), while Hong Kong SAR ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (+6.0%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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