Eastern Asia: Orthopaedic Appliances Market 2024

Orthopaedic Appliances Market Size in Eastern Asia

The East Asian orthopaedic appliances market reduced to $X in 2022, shrinking by -8.1% against the previous year. In general, consumption recorded a relatively flat trend pattern. Over the period under review, the market hit record highs at $X in 2015; however, from 2016 to 2022, consumption stood at a somewhat lower figure.

Orthopaedic Appliances Production in Eastern Asia

In value terms, orthopaedic appliances production reduced modestly to $X in 2022 estimated in export price. Overall, production recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when the production volume increased by 47%. Over the period under review, production attained the peak level at $X in 2015; however, from 2016 to 2022, production failed to regain momentum.

Orthopaedic Appliances Exports

Exports in Eastern Asia

In 2022, the amount of orthopaedic appliances and splints exported in Eastern Asia expanded significantly to X tons, growing by 5.9% on the previous year. Over the period under review, exports recorded a buoyant increase. The pace of growth was the most pronounced in 2014 when exports increased by 82% against the previous year. The volume of export peaked in 2022 and is expected to retain growth in the near future.

In value terms, orthopaedic appliances exports reached $X in 2022. Overall, exports continue to indicate a pronounced increase. The pace of growth appeared the most rapid in 2021 with an increase of 38% against the previous year. The level of export peaked in 2022 and is expected to retain growth in years to come.

Exports by Country

China dominates exports structure, recording X tons, which was approx. 92% of total exports in 2022. It was distantly followed by Taiwan (Chinese) (X tons), committing a 7.2% share of total exports.

China was also the fastest-growing in terms of the orthopaedic appliances and splints exports, with a CAGR of +12.1% from 2012 to 2022. Taiwan (Chinese) experienced a relatively flat trend pattern. From 2012 to 2022, the share of China increased by +14 percentage points.

In value terms, China ($X) remains the largest orthopaedic appliances supplier in Eastern Asia, comprising 79% of total exports. The second position in the ranking was held by Taiwan (Chinese) ($X), with a 17% share of total exports.

In China, orthopaedic appliances exports expanded at an average annual rate of +6.2% over the period from 2012-2022.

Export Prices by Country

The export price in Eastern Asia stood at $X per ton in 2022, increasing by 3.2% against the previous year. Over the period under review, the export price, however, showed a deep setback. The most prominent rate of growth was recorded in 2020 when the export price increased by 10%. The level of export peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Taiwan (Chinese) ($X per ton), while China amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+3.7%).

Orthopaedic Appliances Imports

Imports in Eastern Asia

In 2022, the amount of orthopaedic appliances and splints imported in Eastern Asia plummeted to X tons, which is down by -20.4% on the year before. Over the period under review, imports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 with an increase of 28% against the previous year. The volume of import peaked at X tons in 2021, and then fell rapidly in the following year.

In value terms, orthopaedic appliances imports dropped to $X in 2022. Total imports indicated a tangible increase from 2012 to 2022: its value increased at an average annual rate of +2.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -21.9% against 2019 indices. The most prominent rate of growth was recorded in 2018 with an increase of 23%. Over the period under review, imports attained the peak figure at $X in 2019; however, from 2020 to 2022, imports remained at a lower figure.

Imports by Country

Japan (X tons) and South Korea (X tons) represented roughly 71% of total imports in 2022. Taiwan (Chinese) (X tons) took the next position in the ranking, followed by China (X tons). All these countries together held approx. 26% share of total imports. Hong Kong SAR (X tons) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for South Korea (with a CAGR of +18.2%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest orthopaedic appliances importing markets in Eastern Asia were Japan ($X), China ($X) and Taiwan (Chinese) ($X), together accounting for 94% of total imports. Hong Kong SAR and South Korea lagged somewhat behind, together accounting for a further 5.7%.

South Korea, with a CAGR of +23.5%, saw the highest growth rate of the value of imports, in terms of 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

In 2022, the import price in Eastern Asia amounted to $X per ton, rising by 16% against the previous year. Over the last decade, it increased at an average annual rate of +2.5%. The pace of growth appeared the most rapid in 2013 when the import price increased by 50%. Over the period under review, import prices hit record highs at $X per ton in 2014; however, from 2015 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was China ($X per ton), while South Korea ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+22.8%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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