New Zealand: Orthopedic Prosthetics Market 2024

Orthopedic Prosthetics Market Size in New Zealand

In 2022, the New Zealand orthopedic prosthetics market decreased by -36.4% to $X for the first time since 2018, thus ending a three-year rising trend. Over the period under review, consumption recorded a mild slump. Over the period under review, the market hit record highs at $X in 2021, and then dropped sharply in the following year.

Orthopedic Prosthetics Exports

Exports from New Zealand

In 2022, shipments abroad of artificial parts of the body (excl. artificial teeth and dental fittings and artificial joints) increased by 46% to X units, rising for the fifth year in a row after two years of decline. Overall, exports posted prominent growth. The pace of growth was the most pronounced in 2019 when exports increased by 68% against the previous year. The exports peaked in 2022 and are likely to continue growth in the near future.

In value terms, orthopedic prosthetics exports skyrocketed to $X in 2022. In general, exports enjoyed a strong increase. The most prominent rate of growth was recorded in 2019 with an increase of 74% against the previous year. The exports peaked in 2022 and are expected to retain growth in the immediate term.

Exports by Country

Australia (X units), the United States (X units) and Germany (X units) were the main destinations of orthopedic prosthetics exports from New Zealand, together comprising 95% of total exports.

From 2012 to 2022, the biggest increases were recorded for Germany (with a CAGR of +181.6%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Australia ($X), the United States ($X) and Germany ($X) were the largest markets for orthopedic prosthetics exported from New Zealand worldwide, together comprising 95% of total exports.

Germany, with a CAGR of +177.2%, recorded the highest growth rate of the value of exports, in terms of the main countries of destination 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, waning by -6% against the previous year. Overall, the export price saw a mild setback. The most prominent rate of growth was recorded in 2017 an increase of 70%. Over the period under review, the average export prices hit record highs at $X per unit in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

Average prices varied noticeably for the major export markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Australia ($X per unit) and the United States ($X per unit), while the average price for exports to Italy ($X per unit) and Belgium ($X per unit) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United States (+11.9%), while the prices for the other major destinations experienced a decline.

Orthopedic Prosthetics Imports

Imports into New Zealand

In 2022, after three years of growth, there was significant decline in supplies from abroad of artificial parts of the body (excl. artificial teeth and dental fittings and artificial joints), when their volume decreased by -16.2% to X units. In general, total imports indicated perceptible growth from 2012 to 2022: its volume increased at an average annual rate of +4.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2016 when imports increased by 61%. Over the period under review, imports reached the maximum at X units in 2021, and then fell markedly in the following year.

In value terms, orthopedic prosthetics imports reduced to $X in 2022. Overall, total imports indicated a mild increase from 2012 to 2022: its value increased at an average annual rate of +1.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2016 with an increase of 65%. Imports peaked at $X in 2021, and then shrank in the following year.

Imports by Country

In 2022, the United States (X units) constituted the largest orthopedic prosthetics supplier to New Zealand, with a 51% share of total imports. Moreover, orthopedic prosthetics imports from the United States exceeded the figures recorded by the second-largest supplier, Singapore (X units), fourfold. The third position in this ranking was held by Ireland (X units), with a 7.8% share.

From 2012 to 2022, the average annual growth rate of volume from the United States stood at +11.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Singapore (+51.1% per year) and Ireland (-0.5% per year).

In value terms, the United States ($X) constituted the largest supplier of artificial parts of the body (excl. artificial teeth and dental fittings and artificial joints) to New Zealand, comprising 51% of total imports. The second position in the ranking was taken by Singapore ($X), with an 11% share of total imports. It was followed by Ireland, with a 7.8% share.

From 2012 to 2022, the average annual rate of growth in terms of value from the United States stood at +6.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Singapore (+33.0% per year) and Ireland (-4.4% per year).

Import Prices by Country

The average orthopedic prosthetics import price stood at $X per unit in 2022, growing by 5.1% against the previous year. In general, the import price, however, recorded a pronounced curtailment. The import price peaked at $X per unit in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (+6.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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