Paraguay: Orthopedic Prosthetics Market 2024

Orthopedic Prosthetics Market Size in Paraguay

The Paraguayan orthopedic prosthetics market soared to $X in 2022, with an increase of 27% 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). Overall, consumption, however, showed a resilient increase. Over the period under review, the market reached the peak level in 2022 and is likely to continue growth in the immediate term.

Orthopedic Prosthetics Exports

Exports from Paraguay

In 2022, after three years of decline, there was significant growth in overseas shipments of artificial parts of the body (excl. artificial teeth and dental fittings and artificial joints), when their volume increased by 472% to X units. In general, exports recorded a modest expansion. The growth pace was the most rapid in 2018 when exports increased by 874%. The exports peaked at X units in 2015; however, from 2016 to 2022, the exports failed to regain momentum.

In value terms, orthopedic prosthetics exports soared to $X in 2022. Over the period under review, exports, however, saw a sharp reduction. The most prominent rate of growth was recorded in 2018 with an increase of 1,069%. Over the period under review, the exports reached the peak figure at $X in 2015; however, from 2016 to 2022, the exports failed to regain momentum.

Exports by Country

Canada (X units) was the main destination for orthopedic prosthetics exports from Paraguay, accounting for a 71% share of total exports. Moreover, orthopedic prosthetics exports to Canada exceeded the volume sent to the second major destination, Japan (X units), sixfold. The Netherlands (X units) ranked third in terms of total exports with an 11% share.

From 2013 to 2022, the average annual growth rate of volume to Canada stood at +109.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (-3.6% per year) and the Netherlands (-15.7% per year).

In value terms, the largest markets for orthopedic prosthetics exported from Paraguay were the Netherlands ($X), Canada ($X) and the United States ($X), together accounting for 99% of total exports.

Canada, with a CAGR of +58.0%, 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 a decline.

Export Prices by Country

The average orthopedic prosthetics export price stood at $X per unit in 2022, dropping by -21.3% against the previous year. In general, the export price recorded a sharp decline. The growth pace was the most rapid in 2020 an increase of 56% against the previous year. The export price peaked at $X per unit in 2013; however, from 2014 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the Netherlands ($X per unit), while the average price for exports to Japan ($X per unit) was amongst the lowest.

From 2013 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Bolivia (-10.3%), while the prices for the other major destinations experienced a decline.

Orthopedic Prosthetics Imports

Imports into Paraguay

In 2022, approx. X units of artificial parts of the body (excl. artificial teeth and dental fittings and artificial joints) were imported into Paraguay; waning by -2.2% compared with the previous year. In general, imports, however, posted a prominent increase. The pace of growth was the most pronounced in 2021 with an increase of 87%. Imports peaked at X units in 2019; however, from 2020 to 2022, imports failed to regain momentum.

In value terms, orthopedic prosthetics imports surged to $X in 2022. Overall, imports, however, continue to indicate prominent growth. The most prominent rate of growth was recorded in 2013 when imports increased by 62% against the previous year. Imports peaked in 2022 and are likely to continue growth in years to come.

Imports by Country

China (X units), France (X units) and the United States (X units) were the main suppliers of orthopedic prosthetics imports to Paraguay, together comprising 59% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by France (with a CAGR of +45.4%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest orthopedic prosthetics suppliers to Paraguay were the United States ($X), Brazil ($X) and Costa Rica ($X), with a combined 63% share of total imports. France, India, China, Ireland and the Netherlands lagged somewhat behind, together accounting for a further 24%.

France, with a CAGR of +50.1%, 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, surging by 50% against the previous year. In general, the import price showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 when the average import price increased by 59% against the previous year. Over the period under review, average import prices reached the maximum at $X per unit in 2013; afterwards, it flattened through to 2022.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Brazil (+7.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform