Philippines: Orthopaedic Appliances Market 2024

Orthopaedic Appliances Market Size in the Philippines

The Philippine orthopaedic appliances market expanded notably to $X in 2022, surging by 5.1% against the previous year. The market value increased at an average annual rate of +4.7% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Orthopaedic appliances consumption peaked at $X in 2017; however, from 2018 to 2022, consumption failed to regain momentum.

Orthopaedic Appliances Production in the Philippines

In value terms, orthopaedic appliances production totaled $X in 2022 estimated in export price. The total output value increased at an average annual rate of +2.1% over the period from 2012 to 2022; however, the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2013 with an increase of 29% against the previous year. Orthopaedic appliances production peaked at $X in 2017; however, from 2018 to 2022, production failed to regain momentum.

Orthopaedic Appliances Exports

Exports from the Philippines

Orthopaedic appliances exports from the Philippines stood at X tons in 2022, surging by 8.8% on 2021. Overall, exports continue to indicate resilient growth. The growth pace was the most rapid in 2015 when exports increased by 147%. As a result, the exports reached the peak of X tons. From 2016 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, orthopaedic appliances exports skyrocketed to $X in 2022. Over the period under review, exports enjoyed significant growth. The most prominent rate of growth was recorded in 2017 with an increase of 212% against the previous year. The exports peaked in 2022 and are likely to see steady growth in the near future.

Exports by Country

The United States (X tons) was the main destination for orthopaedic appliances exports from the Philippines, with a 70% share of total exports. Moreover, orthopaedic appliances exports to the United States exceeded the volume sent to the second major destination, Switzerland (X tons), twofold.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United States stood at +216.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Switzerland (+1.2% per year) and Japan (-22.0% per year).

In value terms, the United States ($X) remains the key foreign market for orthopaedic appliances and splints exports from the Philippines, comprising 73% of total exports. The second position in the ranking was held by Switzerland ($X), with a 26% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States stood at +231.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Switzerland (+13.3% per year) and Japan (-9.7% per year).

Export Prices by Country

In 2022, the average orthopaedic appliances export price amounted to $X per ton, increasing by 8.4% against the previous year. Over the period under review, the export price posted a buoyant expansion. The growth pace was the most rapid in 2017 when the average export price increased by 126% against the previous year. Over the period under review, the average export prices reached the peak figure in 2022 and is expected to retain growth in the near future.

Average prices varied noticeably for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Switzerland ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Belgium (+51.8%), while the prices for the other major destinations experienced more modest paces of growth.

Orthopaedic Appliances Imports

Imports into the Philippines

In 2022, overseas purchases of orthopaedic appliances and splints increased by 64% to X tons, rising for the second year in a row after two years of decline. Overall, imports continue to indicate a resilient expansion. The growth pace was the most rapid in 2014 when imports increased by 71% against the previous year. Imports peaked in 2022 and are likely to continue growth in the immediate term.

In value terms, orthopaedic appliances imports soared to $X in 2022. Over the period under review, imports enjoyed a significant expansion. The most prominent rate of growth was recorded in 2013 when imports increased by 120% against the previous year. Over the period under review, imports attained the peak figure in 2022 and are likely to continue growth in years to come.

Imports by Country

In 2022, China (X tons) constituted the largest orthopaedic appliances supplier to the Philippines, with a 76% share of total imports. Moreover, orthopaedic appliances imports from China exceeded the figures recorded by the second-largest supplier, Mexico (X tons), fivefold. Taiwan (Chinese) (X tons) ranked third in terms of total imports with a 2.4% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China amounted to +16.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Mexico (+775.2% per year) and Taiwan (Chinese) (-7.1% per year).

In value terms, Mexico ($X), China ($X) and the United States ($X) constituted the largest orthopaedic appliances suppliers to the Philippines, with a combined 80% share of total imports.

In terms of the main suppliers, Mexico, with a CAGR of +714.2%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average orthopaedic appliances import price amounted to $X per ton, with an increase of 3% against the previous year. In general, the import price showed a prominent increase. The most prominent rate of growth was recorded in 2016 when the average import price increased by 79% against the previous year. The import price peaked at $X per ton in 2017; however, from 2018 to 2022, import prices remained at a lower figure.

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 the United States ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+46.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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