Luxembourg: Orthopedic Prosthetics Market 2024

Orthopedic Prosthetics Market Size in Luxembourg

The Luxembourg orthopedic prosthetics market contracted to $X in 2022, waning by -11.4% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). The market value increased at an average annual rate of +2.1% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Orthopedic prosthetics consumption peaked at $X in 2016; however, from 2017 to 2022, consumption failed to regain momentum.

Orthopedic Prosthetics Exports

Exports from Luxembourg

Orthopedic prosthetics exports from Luxembourg declined sharply to X units in 2022, waning by -65.7% on the previous year's figure. In general, exports, however, showed a prominent expansion. The pace of growth appeared the most rapid in 2014 with an increase of 212% against the previous year. The exports peaked at X units in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

In value terms, orthopedic prosthetics exports contracted markedly to $X in 2022. Over the period under review, exports, however, enjoyed a noticeable expansion. The most prominent rate of growth was recorded in 2014 when exports increased by 202% against the previous year. The exports peaked at $X in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Germany (X units), Belgium (X units) and the Netherlands (X units) were the main destinations of orthopedic prosthetics exports from Luxembourg, with a combined 86% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Germany (with a CAGR of +14.1%), while the other leaders experienced more modest paces of growth.

In value terms, Belgium ($X), France ($X) and Germany ($X) appeared to be the largest markets for orthopedic prosthetics exported from Luxembourg worldwide, together accounting for 86% of total exports.

In terms of the main countries of destination, France, with a CAGR of +21.0%, 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 average orthopedic prosthetics export price stood at $X per unit in 2022, dropping by -6.8% against the previous year. In general, the export price saw a perceptible shrinkage. The most prominent rate of growth was recorded in 2020 an increase of 45%. As a result, the export price reached the peak level of $X per unit. From 2021 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 France ($X per unit), while the average price for exports to Germany ($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 Oman (+24.5%), while the prices for the other major destinations experienced more modest paces of growth.

Orthopedic Prosthetics Imports

Imports into Luxembourg

In 2022, orthopedic prosthetics imports into Luxembourg shrank sharply to X units, dropping by -15.3% on the year before. In general, imports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 with an increase of 33%. As a result, imports attained the peak of X units. From 2015 to 2022, the growth of imports remained at a lower figure.

In value terms, orthopedic prosthetics imports fell to $X in 2022. The total import value increased at an average annual rate of +3.3% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2014 when imports increased by 37% against the previous year. Over the period under review, imports hit record highs at $X in 2016; however, from 2017 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Belgium (X units), France (X units) and Germany (X units) were the main suppliers of orthopedic prosthetics imports to Luxembourg, together comprising 78% of total imports. The Netherlands, India and the United States lagged somewhat behind, together comprising a further 20%.

From 2012 to 2022, the biggest increases were recorded for India (with a CAGR of +11.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Belgium ($X) constituted the largest supplier of artificial parts of the body (excl. artificial teeth and dental fittings and artificial joints) to Luxembourg, comprising 41% of total imports. The second position in the ranking was taken by Germany ($X), with a 16% share of total imports. It was followed by the United States, with a 15% share.

From 2012 to 2022, the average annual growth rate of value from Belgium totaled +2.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+11.6% per year) and the United States (+8.4% per year).

Import Prices by Country

In 2022, the average orthopedic prosthetics import price amounted to $X per unit, rising by 3.6% against the previous year. Over the last decade, it increased at an average annual rate of +3.4%. The most prominent rate of growth was recorded in 2015 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 2016; however, from 2017 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the United States ($X per unit), while the price for France ($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 United States (+17.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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