Italy: Orthopedic Prosthetics Market 2024

Orthopedic Prosthetics Market Size in Italy

The Italian orthopedic prosthetics market shrank notably to $X in 2022, which is down by -15.6% against the previous year. Overall, consumption, however, recorded a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2014 to 2022, the growth of the market remained at a lower figure.

Orthopedic Prosthetics Production in Italy

In value terms, orthopedic prosthetics production skyrocketed to $X in 2022 estimated in export price. Overall, production, however, continues to indicate a strong increase. As a result, production reached the peak level and is likely to continue growth in the immediate term.

Orthopedic Prosthetics Exports

Exports from Italy

In 2022, orthopedic prosthetics exports from Italy rose modestly to X units, with an increase of 2.5% on the previous year's figure. In general, exports, however, saw a slight slump. The growth pace was the most rapid in 2021 when exports increased by 48% against the previous year. Over the period under review, the exports attained the peak figure at X units in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

In value terms, orthopedic prosthetics exports expanded markedly to $X in 2022. Overall, exports, however, recorded a perceptible shrinkage. The pace of growth was the most pronounced in 2021 when exports increased by 16%. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

Spain (X units), China (X units) and France (X units) were the main destinations of orthopedic prosthetics exports from Italy, with a combined 29% share of total exports. Turkey, Germany, India, Switzerland, the United States, the Netherlands, the UK, Belgium, Canada and Romania lagged somewhat behind, together accounting for a further 35%.

From 2012 to 2022, the biggest increases were recorded for India (with a CAGR of +21.3%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, China ($X), Spain ($X) and Turkey ($X) constituted the largest markets for orthopedic prosthetics exported from Italy worldwide, with a combined 27% share of total exports. France, the Netherlands, the United States, Germany, Belgium, the UK, Canada, India, Switzerland and Romania lagged somewhat behind, together accounting for a further 35%.

In terms of the main countries of destination, India, with a CAGR of +22.0%, recorded the highest rates of growth with regard to 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 average orthopedic prosthetics export price stood at $X per unit in 2022, growing by 4.8% against the previous year. In general, the export price, however, saw a pronounced slump. The most prominent rate of growth was recorded in 2014 when the average export price increased by 28%. The export price peaked at $X per unit in 2017; however, from 2018 to 2022, the export prices remained at a 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 Turkey ($X per unit), while the average price for exports to Switzerland ($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 Romania (+3.5%), while the prices for the other major destinations experienced more modest paces of growth.

Orthopedic Prosthetics Imports

Imports into Italy

In 2022, the amount of artificial parts of the body (excl. artificial teeth and dental fittings and artificial joints) imported into Italy declined dramatically to X units, with a decrease of -15.3% against the previous year. Over the period under review, total imports indicated modest growth from 2012 to 2022: its volume increased at an average annual rate of +1.8% 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 -34.2% against 2018 indices. The pace of growth was the most pronounced in 2018 with an increase of 28%. As a result, imports reached the peak of X units. From 2019 to 2022, the growth of imports remained at a lower figure.

In value terms, orthopedic prosthetics imports reduced to $X in 2022. The total import value increased at an average annual rate of +1.0% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 with an increase of 21% against the previous year. As a result, imports reached the peak of $X, and then reduced in the following year.

Imports by Country

The Netherlands (X units), Belgium (X units) and Germany (X units) were the main suppliers of orthopedic prosthetics imports to Italy, together accounting for 67% of total imports. Mexico, the United States, the UK, France and Ireland lagged somewhat behind, together comprising a further 25%.

From 2012 to 2022, the biggest increases were recorded for Mexico (with a CAGR of +114.8%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the Netherlands ($X) constituted the largest supplier of artificial parts of the body (excl. artificial teeth and dental fittings and artificial joints) to Italy, comprising 60% of total imports. The second position in the ranking was taken by Belgium ($X), with an 11% share of total imports. It was followed by Germany, with a 7.7% share.

From 2012 to 2022, the average annual rate of growth in terms of value from the Netherlands amounted to +2.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Belgium (+0.2% per year) and Germany (+6.7% per year).

Import Prices by Country

In 2022, the average orthopedic prosthetics import price amounted to $X per unit, with an increase of 5.5% against the previous year. Over the period under review, the import price, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2019 when the average import price increased by 26% against the previous year. 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 ($X per unit), while the price for Mexico ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by France (+9.7%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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