GCC: Orthopedic Prosthetics Market 2024

Orthopedic Prosthetics Market Size in GCC

The GCC orthopedic prosthetics market fell modestly to $X in 2022, almost unchanged from the previous year. In general, consumption, however, continues to indicate a slight decline. The level of consumption peaked at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Orthopedic Prosthetics Production in GCC

In value terms, orthopedic prosthetics production shrank modestly to $X in 2022 estimated in export price. Over the period under review, production recorded a strong expansion. The pace of growth was the most pronounced in 2017 with an increase of 58%. The level of production peaked at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Orthopedic Prosthetics Exports

Exports in GCC

In 2022, overseas shipments of artificial parts of the body (excl. artificial teeth and dental fittings and artificial joints) were finally on the rise to reach X units after four years of decline. Overall, exports, however, recorded a deep slump. The growth pace was the most rapid in 2016 with an increase of 98%. Over the period under review, the exports hit record highs at X units in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

In value terms, orthopedic prosthetics exports amounted to $X in 2022. In general, exports recorded slight growth. The growth pace was the most rapid in 2015 with an increase of 142% against the previous year. The level of export peaked at $X in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

Exports by Country

The United Arab Emirates was the key exporter of artificial parts of the body (excl. artificial teeth and dental fittings and artificial joints) in GCC, with the volume of exports resulting at X units, which was approx. 61% of total exports in 2022. Saudi Arabia (X units) held a 25% share (based on physical terms) of total exports, which put it in second place, followed by Oman (8.2%). The following exporters - Kuwait (X units) and Bahrain (X units) - each reached a 5.8% share of total exports.

Exports from the United Arab Emirates decreased at an average annual rate of -11.3% from 2012 to 2022. At the same time, Oman (+59.4%), Saudi Arabia (+24.1%), Bahrain (+7.7%) and Kuwait (+4.5%) displayed positive paces of growth. Moreover, Oman emerged as the fastest-growing exporter exported in GCC, with a CAGR of +59.4% from 2012-2022. Saudi Arabia (+24 p.p.), Oman (+8.1 p.p.), Kuwait (+2.2 p.p.) and Bahrain (+1.9 p.p.) significantly strengthened its position in terms of the total exports, while the United Arab Emirates saw its share reduced by -36.3% from 2012 to 2022, respectively.

In value terms, the United Arab Emirates ($X), Saudi Arabia ($X) and Bahrain ($X) appeared to be the countries with the highest levels of exports in 2022, with a combined 91% share of total exports. Oman and Kuwait lagged somewhat behind, together comprising a further 8.8%.

Among the main exporting countries, Oman, with a CAGR of +55.8%, recorded 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

The export price in GCC stood at $X per unit in 2022, approximately reflecting the previous year. Over the period under review, the export price showed buoyant growth. The growth pace was the most rapid in 2014 when the export price increased by 56% against the previous year. Over the period under review, the export prices attained the maximum in 2022 and is expected to retain growth in the immediate term.

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 Bahrain ($X per unit), while Oman ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Saudi Arabia (+6.5%), while the other leaders experienced more modest paces of growth.

Orthopedic Prosthetics Imports

Imports in GCC

In 2022, after two years of decline, there was significant growth in supplies from abroad of artificial parts of the body (excl. artificial teeth and dental fittings and artificial joints), when their volume increased by 16% to X units. Over the period under review, imports continue to indicate a notable increase. The growth pace was the most rapid in 2019 when imports increased by 115% against the previous year. As a result, imports attained the peak of X units. From 2020 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, orthopedic prosthetics imports shrank remarkably to $X in 2022. In general, imports, however, continue to indicate a pronounced descent. The most prominent rate of growth was recorded in 2019 with an increase of 39% against the previous year. As a result, imports reached the peak of $X. From 2020 to 2022, the growth of imports failed to regain momentum.

Imports by Country

The United Arab Emirates represented the key importer of artificial parts of the body (excl. artificial teeth and dental fittings and artificial joints) in GCC, with the volume of imports amounting to X units, which was approx. 68% of total imports in 2022. Kuwait (X units) held a 19% share (based on physical terms) of total imports, which put it in second place, followed by Oman (7.3%) and Bahrain (5.8%).

The United Arab Emirates was also the fastest-growing in terms of the artificial parts of the body (excl. artificial teeth and dental fittings and artificial joints) imports, with a CAGR of +6.1% from 2012 to 2022. At the same time, Kuwait (+2.5%) and Bahrain (+1.0%) displayed positive paces of growth. Oman experienced a relatively flat trend pattern. While the share of the United Arab Emirates (+10 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Bahrain (-2.2 p.p.), Kuwait (-3.6 p.p.) and Oman (-4.4 p.p.) displayed negative dynamics.

In value terms, the United Arab Emirates ($X) constitutes the largest market for imported artificial parts of the body (excl. artificial teeth and dental fittings and artificial joints) in GCC, comprising 61% of total imports. The second position in the ranking was taken by Kuwait ($X), with an 18% share of total imports. It was followed by Oman, with a 7.9% share.

In the United Arab Emirates, orthopedic prosthetics imports increased at an average annual rate of +4.9% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Kuwait (+6.0% per year) and Oman (+9.9% per year).

Import Prices by Country

The import price in GCC stood at $X per unit in 2022, waning by -71.9% against the previous year. Over the period under review, the import price saw a deep reduction. The pace of growth appeared the most rapid in 2021 an increase of 70%. As a result, import price attained the peak level of $X per unit, and then fell notably in the following year.

Average prices varied somewhat amongst the major importing countries. In 2022, major importing countries recorded the following prices: in Bahrain ($X per unit) and Oman ($X per unit), while the United Arab Emirates ($X per unit) and Kuwait ($X per unit) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Bahrain (+12.2%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform