Report Update Nov 1, 2024

Philippines - Artificial Joints for Orthopedic Purposes - Market Analysis, Forecast, Size, Trends and Insights

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Philippines: Orthopedic Artificial Joints Market 2024

Orthopedic Artificial Joints Market Size in the Philippines

The Philippine orthopedic artificial joints market amounted to less than $X in 2022, almost unchanged from the previous year. Over the period under review, consumption continues to indicate a relatively flat trend pattern.

Orthopedic Artificial Joints Production in the Philippines

In value terms, orthopedic artificial joints production surged to $X in 2022 estimated in export price. In general, production, however, recorded a deep setback. Orthopedic artificial joints production peaked at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Orthopedic Artificial Joints Exports

Exports from the Philippines

In value terms, orthopedic artificial joints exports dropped notably to $X in 2022. Over the period under review, exports enjoyed significant growth. The pace of growth appeared the most rapid in 2021 with an increase of 10,031,339% against the previous year. As a result, the exports reached the peak of $X, and then dropped significantly in the following year.

Exports by Country

In value terms, the United States ($X) also remains the key foreign market for artificial joints for orthopedic purposes exports from the Philippines.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States totaled +99.9%.

Orthopedic Artificial Joints Imports

Imports into the Philippines

In 2022, after ten years of growth, there was significant decline in overseas purchases of artificial joints for orthopedic purposes, when their volume decreased by -60% to X units. Overall, imports, however, recorded a mild increase. The pace of growth was the most pronounced in 2021 when imports increased by 157%. As a result, imports attained the peak of X units, and then shrank markedly in the following year.

In value terms, orthopedic artificial joints imports surged to $X in 2022. In general, imports, however, continue to indicate significant growth. The most prominent rate of growth was recorded in 2017 with an increase of 1,594%. As a result, imports attained the peak of $X. From 2018 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2022, the United States (X units) constituted the largest supplier of orthopedic artificial joints to the Philippines, accounting for a 83% share of total imports. Moreover, orthopedic artificial joints imports from the United States exceeded the figures recorded by the second-largest supplier, Taiwan (Chinese) (X units), more than tenfold. The Netherlands (X units) ranked third in terms of total imports with a 2.8% share.

From 2020 to 2022, the average annual rate of growth in terms of volume from the United States stood at +51.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (0.0% per year) and the Netherlands (0.0% per year).

In value terms, the United States ($X) constituted the largest supplier of artificial joints for orthopedic purposes to the Philippines, comprising 81% of total imports. The second position in the ranking was taken by China ($X), with a 9.5% share of total imports. It was followed by Singapore, with a 5.5% share.

From 2020 to 2022, the average annual growth rate of value from the United States amounted to +155.5%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+25.2% per year) and Singapore (-31.0% per year).

Import Prices by Country

The average orthopedic artificial joints import price stood at $X per unit in 2022, picking up by 323% against the previous year. Over the period under review, the import price recorded a significant increase. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was China ($X per unit), while the price for the Netherlands ($X per unit) was amongst the lowest.

From 2020 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+68.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for artificial joints for orthopedic purposes in the world?

The countries with the highest volumes of orthopedic artificial joints consumption in 2020 were the U.S., China and Japan, with a combined 57% share of global consumption. These countries were followed by Brazil, Switzerland, Belgium, Germany, Ethiopia, Italy, France, the UK and South Korea, which together accounted for a further 24%.

What are the largest producers of artificial joints for orthopedic purposes in the world?

The country with the largest volume of orthopedic artificial joints production was the U.S., accounting for 47% of total volume. Moreover, orthopedic artificial joints production in the U.S. exceeded the figures recorded by the second-largest producer, China, threefold. The third position in this ranking was occupied by Ireland, with a 5.2% share.

What are the leading suppliers of artificial joints for orthopedic purposes to the Philippines?

In value terms, the largest orthopedic artificial joints suppliers to the Philippines were the U.S., Singapore and China, with a combined 88% share of total imports.

What is the average export price for artificial joints for orthopedic purposes in the Philippines?

The average orthopedic artificial joints export price stood at $85,902 per ton in 2020, waning by -74.1% against the previous year.

What is the average import price for artificial joints for orthopedic purposes in the Philippines?

In 2020, the average orthopedic artificial joints import price amounted to $357,585 per ton, with an increase of 33% against the previous year.

This report provides an in-depth analysis of the orthopedic artificial joints market in the Philippines. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Prodcom 32502235 - Artificial joints

Country coverage:

Philippines

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in the Philippines
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023