India: Orthopedic Prosthetics Market 2024

Orthopedic Prosthetics Market Size in India

The Indian orthopedic prosthetics market totaled $X in 2022, therefore, remained relatively stable against the previous year. In general, consumption continues to indicate a resilient expansion. Orthopedic prosthetics consumption peaked in 2022 and is likely to see gradual growth in the immediate term.

Orthopedic Prosthetics Production in India

In value terms, orthopedic prosthetics production totaled $X in 2022 estimated in export price. In general, production, however, recorded a strong increase. The most prominent rate of growth was recorded in 2018 with an increase of 41%. Orthopedic prosthetics production peaked at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Orthopedic Prosthetics Exports

Exports from India

In 2022, orthopedic prosthetics exports from India soared to X units, jumping by 98% on the previous year. Overall, exports saw significant growth. The growth pace was the most rapid in 2013 with an increase of 131% against the previous year. The exports peaked in 2022 and are likely to see gradual growth in the near future.

In value terms, orthopedic prosthetics exports surged to $X in 2022. In general, exports recorded significant growth. The most prominent rate of growth was recorded in 2013 when exports increased by 119%. The exports peaked in 2022 and are expected to retain growth in the near future.

Exports by Country

The United Arab Emirates (X units) was the main destination for orthopedic prosthetics exports from India, accounting for a 20% share of total exports. Moreover, orthopedic prosthetics exports to the United Arab Emirates exceeded the volume sent to the second major destination, Brazil (X units), threefold. The third position in this ranking was held by Turkey (X units), with a 4.9% share.

From 2012 to 2022, the average annual growth rate of volume to the United Arab Emirates stood at +57.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Brazil (+39.2% per year) and Turkey (+34.0% per year).

In value terms, Brazil ($X), Turkey ($X) and Iran ($X) constituted the largest markets for orthopedic prosthetics exported from India worldwide, with a combined 20% share of total exports. Croatia, Argentina, Russia, Spain, Indonesia, the Netherlands, the United States, Italy, Egypt and the United Arab Emirates lagged somewhat behind, together accounting for a further 32%.

In terms of the main countries of destination, Croatia, with a CAGR of +119.7%, 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 prosthetics export price amounted to $X per unit, falling by -26% against the previous year. In general, the export price continues to indicate a slight downturn. The growth pace was the most rapid in 2019 an increase of 45% against the previous year. As a result, the export price reached the peak level of $X per unit. From 2020 to 2022, the average export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Argentina ($X per unit), while the average price for exports to the United Arab Emirates ($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 the Netherlands (-0.4%), while the prices for the other major destinations experienced a decline.

Orthopedic Prosthetics Imports

Imports into India

In 2022, supplies from abroad of artificial parts of the body (excl. artificial teeth and dental fittings and artificial joints) increased by 48% to X units, rising for the second consecutive year after two years of decline. Over the period under review, imports enjoyed a strong increase. The pace of growth was the most pronounced in 2021 with an increase of 121% against the previous year. Imports peaked in 2022 and are expected to retain growth in the near future.

In value terms, orthopedic prosthetics imports skyrocketed to $X in 2022. Overall, imports saw a buoyant expansion. The most prominent rate of growth was recorded in 2021 when imports increased by 115%. Imports peaked in 2022 and are expected to retain growth in the near future.

Imports by Country

Ireland (X units), the United States (X units) and Switzerland (X units) were the main suppliers of orthopedic prosthetics imports to India, together accounting for 45% of total imports. Germany, Hong Kong SAR, Singapore, Belgium, Mauritius, the Netherlands and China lagged somewhat behind, together comprising a further 45%.

From 2012 to 2022, the biggest increases were recorded for Mauritius (with a CAGR of +54.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Ireland ($X), the United States ($X) and Switzerland ($X) constituted the largest orthopedic prosthetics suppliers to India, together comprising 45% of total imports. Germany, Hong Kong SAR, Singapore, Belgium, Mauritius, the Netherlands and China lagged somewhat behind, together comprising a further 45%.

Among the main suppliers, Mauritius, with a CAGR of +56.0%, 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 prosthetics import price stood at $X per unit in 2022, declining by -2.7% against the previous year. Overall, the import price continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2019 when the average import price increased by 15% against the previous year. Over the period under review, average import prices hit record highs at $X per unit in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from Mauritius ($X per unit) and the United States ($X per unit), while the price for Singapore ($X per unit) and China ($X per unit) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mauritius (+0.7%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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