Northern America: Orthopedic Prosthetics Market 2024

Orthopedic Prosthetics Market Size in Northern America

The North American orthopedic prosthetics market surged to $X in 2022, jumping by 26% against the previous year. In general, consumption enjoyed a strong expansion. The level of consumption peaked in 2022 and is likely to see steady growth in the immediate term.

Orthopedic Prosthetics Production in Northern America

In value terms, orthopedic prosthetics production skyrocketed to $X in 2022 estimated in export price. In general, production, however, saw a perceptible decrease. The most prominent rate of growth was recorded in 2017 when the production volume increased by 6,558%. Over the period under review, production reached the peak level at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Orthopedic Prosthetics Exports

Exports in Northern America

In 2022, overseas shipments of artificial parts of the body (excl. artificial teeth and dental fittings and artificial joints) increased by 9.3% to X units, rising for the second consecutive year after three years of decline. In general, exports, however, continue to indicate a abrupt contraction. The volume of export peaked at X units in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, orthopedic prosthetics exports reached $X in 2022. The total export value increased at an average annual rate of +1.4% from 2012 to 2022; however, the trend pattern remained consistent, with only minor fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2021 with an increase of 17%. Over the period under review, the exports reached the peak figure in 2022 and are expected to retain growth in the near future.

Exports by Country

The United States prevails in exports structure, recording X units, which was near 98% of total exports in 2022. Canada (X units) followed a long way behind the leaders.

Exports from the United States decreased at an average annual rate of -9.8% from 2012 to 2022. Canada (-4.6%) illustrated a downward trend over the same period. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, the United States ($X) remains the largest orthopedic prosthetics supplier in Northern America, comprising 99% of total exports. The second position in the ranking was held by Canada ($X), with a 0.9% share of total exports.

In the United States, orthopedic prosthetics exports expanded at an average annual rate of +1.4% over the period from 2012-2022.

Export Prices by Country

In 2022, the export price in Northern America amounted to $X per unit, waning by -4.1% against the previous year. In general, the export price, however, showed a strong expansion. The most prominent rate of growth was recorded in 2019 when the export price increased by 43%. Over the period under review, the export prices hit record highs at $X per unit in 2021, and then contracted in the following year.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per unit), while Canada stood at $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+12.5%).

Orthopedic Prosthetics Imports

Imports in Northern America

In 2022, approx. X units of artificial parts of the body (excl. artificial teeth and dental fittings and artificial joints) were imported in Northern America; surging by 20% compared with the year before. Total imports indicated slight growth from 2012 to 2022: its volume increased at an average annual rate of +1.6% 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 +33.2% against 2020 indices. The most prominent rate of growth was recorded in 2017 with an increase of 25%. Over the period under review, imports attained the peak figure at X units in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

In value terms, orthopedic prosthetics imports skyrocketed to $X in 2022. The total import value increased at an average annual rate of +3.9% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

The United States dominates imports structure, resulting at X units, which was approx. 91% of total imports in 2022. It was distantly followed by Canada (X units), committing an 8.6% share of total imports.

The United States was also the fastest-growing in terms of the artificial parts of the body (excl. artificial teeth and dental fittings and artificial joints) imports, with a CAGR of +1.6% from 2012 to 2022. Canada experienced a relatively flat trend pattern. The shares of the largest importers remained relatively stable throughout the analyzed period.

In value terms, the United States ($X) constitutes the largest market for imported artificial parts of the body (excl. artificial teeth and dental fittings and artificial joints) in Northern America, comprising 93% of total imports. The second position in the ranking was held by Canada ($X), with a 7.5% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value in the United States amounted to +4.1%.

Import Prices by Country

The import price in Northern America stood at $X per unit in 2022, remaining relatively unchanged against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.3%. The pace of growth appeared the most rapid in 2020 when the import price increased by 41%. Over the period under review, import prices hit record highs at $X per unit in 2021, and then declined in the following year.

Average prices varied noticeably amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was the United States ($X per unit), while Canada totaled $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+2.4%).

Source: IndexBox Platform

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