MERCOSUR: Orthopedic Prosthetics Market 2024

Orthopedic Prosthetics Market Size in MERCOSUR

In 2022, the MERCOSUR orthopedic prosthetics market increased by 13% to $X, rising for the second consecutive year after two years of decline. The market value increased at an average annual rate of +1.8% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The level of consumption peaked at $X in 2014; however, from 2015 to 2022, consumption failed to regain momentum.

Orthopedic Prosthetics Production in MERCOSUR

In value terms, orthopedic prosthetics production totaled $X in 2022 estimated in export price. The total output value increased at an average annual rate of +3.8% 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 2013 when the production volume increased by 29%. Over the period under review, production reached the maximum level at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Orthopedic Prosthetics Exports

Exports in MERCOSUR

In 2022, orthopedic prosthetics exports in MERCOSUR contracted to X units, which is down by -7% on 2021 figures. In general, exports, however, enjoyed a resilient increase. The pace of growth was the most pronounced in 2014 when exports increased by 114%. Over the period under review, the exports hit record highs at X units in 2015; however, from 2016 to 2022, the exports stood at a somewhat lower figure.

In value terms, orthopedic prosthetics exports dropped to $X in 2022. Total exports indicated a notable expansion from 2012 to 2022: its value increased at an average annual rate of +2.7% 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 +39.0% against 2020 indices. The pace of growth appeared the most rapid in 2014 when exports increased by 49% against the previous year. Over the period under review, the exports attained the maximum at $X in 2021, and then shrank in the following year.

Exports by Country

In 2022, Brazil (X units) was the main exporter of artificial parts of the body (excl. artificial teeth and dental fittings and artificial joints), comprising 84% of total exports. It was distantly followed by Argentina (X units), achieving a 12% share of total exports. Colombia (X units) took a relatively small share of total exports.

Brazil was also the fastest-growing in terms of the artificial parts of the body (excl. artificial teeth and dental fittings and artificial joints) exports, with a CAGR of +10.4% from 2012 to 2022. At the same time, Colombia (+6.7%) displayed positive paces of growth. By contrast, Argentina (-2.9%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Brazil increased by +24 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Brazil ($X) remains the largest orthopedic prosthetics supplier in MERCOSUR, comprising 94% of total exports. The second position in the ranking was taken by Argentina ($X), with a 3.5% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value in Brazil amounted to +3.7%. The remaining exporting countries recorded the following average annual rates of exports growth: Argentina (-6.2% per year) and Colombia (+11.5% per year).

Export Prices by Country

The export price in MERCOSUR stood at $X per unit in 2022, with an increase of 1.5% against the previous year. Over the period under review, the export price, however, continues to indicate a perceptible shrinkage. The pace of growth appeared the most rapid in 2016 an increase of 40%. The level of export peaked at $X per unit in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Brazil ($X per unit), while Argentina ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Colombia (+4.5%), while the other leaders experienced a decline in the export price figures.

Orthopedic Prosthetics Imports

Imports in MERCOSUR

In 2022, overseas purchases of artificial parts of the body (excl. artificial teeth and dental fittings and artificial joints) increased by 10% to X units, rising for the second consecutive year after two years of decline. Total imports indicated moderate growth from 2012 to 2022: its volume increased at an average annual rate of +3.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +34.5% against 2020 indices. The growth pace was the most rapid in 2021 with an increase of 22%. Over the period under review, imports hit record highs at X units in 2018; however, from 2019 to 2022, imports failed to regain momentum.

In value terms, orthopedic prosthetics imports reached $X in 2022. The total import value increased at an average annual rate of +1.1% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2021 with an increase of 47% against the previous year. Over the period under review, imports attained the peak figure in 2022 and are likely to see gradual growth in the near future.

Imports by Country

Brazil was the largest importing country with an import of around X units, which finished at 45% of total imports. It was distantly followed by Colombia (X units), Argentina (X units) and Chile (X units), together making up a 47% share of total imports. Peru (X units) and Ecuador (X units) took a minor share of total imports.

Imports into Brazil increased at an average annual rate of +3.6% from 2012 to 2022. At the same time, Chile (+8.8%), Peru (+5.7%), Ecuador (+5.3%), Argentina (+4.1%) and Colombia (+2.8%) displayed positive paces of growth. Moreover, Chile emerged as the fastest-growing importer imported in MERCOSUR, with a CAGR of +8.8% from 2012-2022. From 2012 to 2022, the share of Chile increased by +5.5 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Brazil ($X) constitutes the largest market for imported artificial parts of the body (excl. artificial teeth and dental fittings and artificial joints) in MERCOSUR, comprising 45% of total imports. The second position in the ranking was held by Chile ($X), with a 17% share of total imports. It was followed by Argentina, with a 16% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Brazil totaled +1.2%. In the other countries, the average annual rates were as follows: Chile (+5.0% per year) and Argentina (+3.1% per year).

Import Prices by Country

The import price in MERCOSUR stood at $X per unit in 2022, remaining constant against the previous year. Over the period under review, the import price, however, saw a perceptible setback. The growth pace was the most rapid in 2021 when the import price increased by 21% against the previous year. Over the period under review, import prices hit record highs 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 destination: amid the top importers, the country with the highest price was Chile ($X per unit), while Colombia ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Argentina (-0.9%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform