Hungary: Orthopedic Prosthetics Market 2024

Orthopedic Prosthetics Market Size in Hungary

The Hungarian orthopedic prosthetics market dropped slightly to $X in 2022, which is down by -4.4% against the previous year. Over the period under review, consumption showed a mild setback. Over the period under review, the market reached the peak level at $X in 2013; however, from 2014 to 2022, consumption failed to regain momentum.

Orthopedic Prosthetics Production in Hungary

In value terms, orthopedic prosthetics production stood at $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.7% from 2012 to 2022; however, the trend pattern remained consistent, with only minor fluctuations being observed in certain years. The most prominent rate of growth was recorded in 2018 when the production volume increased by 16%. As a result, production attained the peak level of $X. From 2019 to 2022, production growth failed to regain momentum.

Orthopedic Prosthetics Exports

Exports from Hungary

In 2022, the amount of artificial parts of the body (excl. artificial teeth and dental fittings and artificial joints) exported from Hungary surged to X units, growing by 16% compared with the previous year. Over the period under review, total exports indicated a tangible increase from 2012 to 2022: its volume increased at an average annual rate of +4.6% 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 +76.6% against 2018 indices. The pace of growth appeared the most rapid in 2019 when exports increased by 51% against the previous year. The exports peaked in 2022 and are likely to see steady growth in the near future.

In value terms, orthopedic prosthetics exports stood at $X in 2022. In general, exports posted prominent growth. The most prominent rate of growth was recorded in 2021 when exports increased by 30% against the previous year. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in the immediate term.

Exports by Country

Romania (X units), Vietnam (X units) and Germany (X units) were the main destinations of orthopedic prosthetics exports from Hungary, together comprising 36% of total exports. Thailand, France, Pakistan, China, Russia, Saudi Arabia, the Czech Republic, Spain, the United Arab Emirates and the UK lagged somewhat behind, together comprising a further 36%.

From 2012 to 2022, the biggest increases were recorded for Saudi Arabia (with a CAGR of +88.5%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), Vietnam ($X) and the Czech Republic ($X) constituted the largest markets for orthopedic prosthetics exported from Hungary worldwide, with a combined 33% share of total exports. France, Spain, Romania, Saudi Arabia, Thailand, China, Russia, Pakistan, the United Arab Emirates and the UK lagged somewhat behind, together accounting for a further 31%.

Saudi Arabia, with a CAGR of +99.7%, saw the highest growth rate of the value of exports, among the main countries of destination 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 prosthetics export price amounted to $X per unit, falling by -2.9% against the previous year. Overall, export price indicated moderate growth from 2012 to 2022: its price increased at an average annual rate of +3.7% 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 +16.0% against 2019 indices. The most prominent rate of growth was recorded in 2014 when the average export price increased by 33%. Over the period under review, the average export prices hit record highs at $X per unit in 2018; however, from 2019 to 2022, the export prices stood at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Pakistan (+10.8%), while the prices for the other major destinations experienced more modest paces of growth.

Orthopedic Prosthetics Imports

Imports into Hungary

In 2022, supplies from abroad of artificial parts of the body (excl. artificial teeth and dental fittings and artificial joints) decreased by -22.2% to X units, falling for the third consecutive year after four years of growth. Over the period under review, imports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when imports increased by 30% against the previous year. Over the period under review, imports attained the maximum at X units in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

In value terms, orthopedic prosthetics imports contracted slightly to $X in 2022. In general, imports, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 when imports increased by 27% against the previous year. Over the period under review, imports hit record highs at $X in 2014; however, from 2015 to 2022, imports failed to regain momentum.

Imports by Country

Germany (X units), Austria (X units) and the Czech Republic (X units) were the main suppliers of orthopedic prosthetics imports to Hungary, with a combined 61% share of total imports. The Netherlands, Belgium, Turkey, Spain, the UK, France, Hong Kong SAR, China and Ireland lagged somewhat behind, together accounting for a further 31%.

From 2012 to 2022, the biggest increases were recorded for Turkey (with a CAGR of +90.5%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the Netherlands ($X), Germany ($X) and Belgium ($X) were the largest orthopedic prosthetics suppliers to Hungary, with a combined 62% share of total imports. The Czech Republic, France, the UK, Austria, Spain, Ireland, Turkey, China and Hong Kong SAR lagged somewhat behind, together comprising a further 24%.

Spain, with a CAGR of +84.4%, saw the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average orthopedic prosthetics import price stood at $X per unit in 2022, with an increase of 28% against the previous year. In general, the import price saw a relatively flat trend pattern. The import price peaked at $X per unit in 2013; however, from 2014 to 2022, import prices stood at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (+8.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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