MERCOSUR: Orthopaedic Appliances Market 2024

Orthopaedic Appliances Market Size in MERCOSUR

The MERCOSUR orthopaedic appliances market expanded significantly to $X in 2022, surging by 8.3% against the previous year. The total consumption indicated tangible growth from 2012 to 2022: its value increased at an average annual rate of +4.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -4.1% against 2020 indices. Over the period under review, the market reached the peak level at $X in 2017; however, from 2018 to 2022, consumption stood at a somewhat lower figure.

Orthopaedic Appliances Production in MERCOSUR

In value terms, orthopaedic appliances production rose significantly to $X in 2022 estimated in export price. The total production indicated perceptible growth from 2012 to 2022: its value increased at an average annual rate of +4.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -9.0% against 2020 indices. The most prominent rate of growth was recorded in 2020 with an increase of 56%. Over the period under review, production hit record highs at $X in 2017; however, from 2018 to 2022, production stood at a somewhat lower figure.

Orthopaedic Appliances Exports

Exports in MERCOSUR

In 2022, approx. X tons of orthopaedic appliances and splints were exported in MERCOSUR; growing by 20% compared with 2021 figures. The total export volume 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 24%. The volume of export peaked in 2022 and is expected to retain growth in years to come.

In value terms, orthopaedic appliances exports soared to $X in 2022. Total exports indicated strong growth from 2012 to 2022: its value increased at an average annual rate of +5.2% 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 +32.9% against 2019 indices. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Brazil represented the key exporter of orthopaedic appliances and splints in MERCOSUR, with the volume of exports finishing at X tons, which was near 79% of total exports in 2022. It was distantly followed by Chile (X tons), creating a 13% share of total exports. Argentina (X tons) and Colombia (X tons) took a relatively small share of total exports.

From 2012 to 2022, average annual rates of growth with regard to orthopaedic appliances exports from Brazil stood at +1.6%. At the same time, Chile (+5.7%) displayed positive paces of growth. Moreover, Chile emerged as the fastest-growing exporter exported in MERCOSUR, with a CAGR of +5.7% from 2012-2022. By contrast, Argentina (-5.9%) and Colombia (-7.2%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Chile and Brazil increased by +4.8 and +4.5 percentage points, respectively.

In value terms, Brazil ($X) remains the largest orthopaedic appliances supplier in MERCOSUR, comprising 88% of total exports. The second position in the ranking was held by Colombia ($X), with a 4.3% share of total exports. It was followed by Argentina, with a 3.8% share.

In Brazil, orthopaedic appliances exports increased at an average annual rate of +6.5% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Colombia (-3.8% per year) and Argentina (+0.5% per year).

Export Prices by Country

In 2022, the export price in MERCOSUR amounted to $X per ton, with an increase of 15% against the previous year. Over the last decade, it increased at an average annual rate of +4.1%. The pace of growth was the most pronounced in 2020 an increase of 29%. As a result, the export price attained the peak level of $X per ton. From 2021 to 2022, the export prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Argentina (+6.8%), while the other leaders experienced more modest paces of growth.

Orthopaedic Appliances Imports

Imports in MERCOSUR

In 2022, the amount of orthopaedic appliances and splints imported in MERCOSUR rose remarkably to X tons, surging by 11% against 2021 figures. Overall, imports, however, recorded a slight downturn. The pace of growth appeared the most rapid in 2021 when imports increased by 42%. The volume of import peaked at X tons in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, orthopaedic appliances imports rose sharply to $X in 2022. In general, imports saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 with an increase of 36% against the previous year. Over the period under review, imports reached the peak figure at $X in 2014; however, from 2015 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Chile (X tons), distantly followed by Brazil (X tons), Colombia (X tons), Argentina (X tons), Peru (X tons) and Ecuador (X tons) were the major importers of orthopaedic appliances and splints, together generating 93% of total imports. Uruguay (X tons) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Chile (with a CAGR of +14.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Brazil ($X) constitutes the largest market for imported orthopaedic appliances and splints in MERCOSUR, comprising 48% of total imports. The second position in the ranking was taken by Colombia ($X), with a 20% share of total imports. It was followed by Chile, with a 16% share.

From 2012 to 2022, the average annual growth rate of value in Brazil stood at +1.7%. In the other countries, the average annual rates were as follows: Colombia (-0.6% per year) and Chile (+12.7% per year).

Import Prices by Country

In 2022, the import price in MERCOSUR amounted to $X per ton, waning by -2.2% against the previous year. Import price indicated a modest increase from 2012 to 2022: its price increased at an average annual rate of +1.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, orthopaedic appliances import price decreased by -32.6% against 2015 indices. The most prominent rate of growth was recorded in 2013 an increase of 44%. The level of import peaked at $X per ton in 2015; however, from 2016 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Brazil ($X per ton), while Argentina ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Colombia (+8.1%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform