Norway: Orthopedic Prosthetics Market 2024

Orthopedic Prosthetics Market Size in Norway

The Norwegian orthopedic prosthetics market rose remarkably to $X in 2022, picking up by 8.2% 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). Over the period under review, consumption recorded a relatively flat trend pattern. Orthopedic prosthetics consumption peaked at $X in 2014; however, from 2015 to 2022, consumption remained at a lower figure.

Orthopedic Prosthetics Exports

Exports from Norway

In 2022, the amount of artificial parts of the body (excl. artificial teeth and dental fittings and artificial joints) exported from Norway was estimated at X units, almost unchanged from the year before. In general, exports showed a resilient increase. The growth pace was the most rapid in 2019 when exports increased by 94% against the previous year. The exports peaked in 2022 and are expected to retain growth in the immediate term.

In value terms, orthopedic prosthetics exports shrank significantly to $X in 2022. Over the period under review, exports recorded a noticeable expansion. The most prominent rate of growth was recorded in 2016 when exports increased by 65% against the previous year. Over the period under review, the exports reached the maximum at $X in 2021, and then declined sharply in the following year.

Exports by Country

Sweden (X units) was the main destination for orthopedic prosthetics exports from Norway, with a 57% share of total exports. Moreover, orthopedic prosthetics exports to Sweden exceeded the volume sent to the second major destination, the Netherlands (X units), fourfold. The third position in this ranking was taken by Belgium (X units), with a 9.4% share.

From 2012 to 2022, the average annual growth rate of volume to Sweden totaled +19.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (+20.2% per year) and Belgium (+22.1% per year).

In value terms, the largest markets for orthopedic prosthetics exported from Norway were Sweden ($X), the Netherlands ($X) and Germany ($X), with a combined 76% share of total exports. Denmark, Belgium, Japan and France lagged somewhat behind, together accounting for a further 21%.

Japan, with a CAGR of +31.3%, saw 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, with a decrease of -34.7% against the previous year. Over the period under review, the export price showed a deep downturn. The most prominent rate of growth was recorded in 2016 when the average export price increased by 30%. Over the period under review, the average export prices reached the peak figure at $X per unit in 2017; however, from 2018 to 2022, the 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 Germany ($X per unit), while the average price for exports to Japan ($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 Switzerland (+16.6%), while the prices for the other major destinations experienced more modest paces of growth.

Orthopedic Prosthetics Imports

Imports into Norway

Orthopedic prosthetics imports into Norway surged to X units in 2022, rising by 17% against 2021 figures. Over the period under review, imports, however, continue to indicate a mild slump. Over the period under review, imports attained the maximum at X units in 2014; however, from 2015 to 2022, imports failed to regain momentum.

In value terms, orthopedic prosthetics imports expanded significantly to $X in 2022. Overall, total imports indicated a slight increase from 2012 to 2022: its value 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 +49.3% against 2017 indices. The pace of growth appeared the most rapid in 2021 when imports increased by 28% against the previous year. Imports peaked at $X in 2014; however, from 2015 to 2022, imports remained at a lower figure.

Imports by Country

Germany (X units), the United States (X units) and Iceland (X units) were the main suppliers of orthopedic prosthetics imports to Norway, together comprising 50% of total imports.

From 2012 to 2022, the biggest increases were recorded for Iceland (with a CAGR of +56.8%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Singapore ($X), the United States ($X) and Iceland ($X) constituted the largest orthopedic prosthetics suppliers to Norway, with a combined 45% share of total imports.

Iceland, with a CAGR of +70.8%, recorded the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average orthopedic prosthetics import price stood at $X per unit in 2022, shrinking by -9.8% against the previous year. In general, import price indicated a notable expansion from 2012 to 2022: its price increased at an average annual rate of +2.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, orthopedic prosthetics import price increased by +70.4% against 2017 indices. The growth pace was the most rapid in 2019 when the average import price increased by 25% against the previous year. Over the period under review, average import prices hit record highs at $X per unit in 2021, and then fell in the following year.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Costa Rica ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Costa Rica (+13.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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