Serbia: Orthopaedic Appliances Market 2024

Orthopaedic Appliances Market Size in Serbia

The Serbian orthopaedic appliances market shrank to $X in 2022, which is down by -13.4% against the previous year. Overall, the total consumption indicated a prominent increase from 2012 to 2022: its value increased at an average annual rate of +5.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +15.2% against 2020 indices. Orthopaedic appliances consumption peaked at $X in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

Orthopaedic Appliances Production in Serbia

In value terms, orthopaedic appliances production fell to $X in 2022 estimated in export price. Over the period under review, production, however, continues to indicate prominent growth. The pace of growth appeared the most rapid in 2014 when the production volume increased by 42% against the previous year. Over the period under review, production reached the peak level at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Orthopaedic Appliances Exports

Exports from Serbia

In 2022, after two years of decline, there was significant growth in shipments abroad of orthopaedic appliances and splints, when their volume increased by 175% to X tons. Overall, exports enjoyed significant growth. The pace of growth was the most pronounced in 2013 with an increase of 327%. The exports peaked at X tons in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

In value terms, orthopaedic appliances exports expanded modestly to $X in 2022. In general, exports enjoyed a strong increase. The most prominent rate of growth was recorded in 2017 with an increase of 223% against the previous year. Over the period under review, the exports reached the maximum at $X in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

Exports by Country

Sweden (X tons) was the main destination for orthopaedic appliances exports from Serbia, accounting for a 87% share of total exports. Moreover, orthopaedic appliances exports to Sweden exceeded the volume sent to the second major destination, Montenegro (X tons), tenfold. The third position in this ranking was held by Germany (X tons), with a 3.5% share.

From 2012 to 2022, the average annual growth rate of volume to Sweden totaled +239.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Montenegro (+17.9% per year) and Germany (+134.4% per year).

In value terms, the largest markets for orthopaedic appliances exported from Serbia were Sweden ($X), Germany ($X) and Montenegro ($X), with a combined 70% share of total exports.

Sweden, with a CAGR of +184.9%, recorded the highest rates of growth with regard to 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 orthopaedic appliances export price stood at $X per ton in 2022, reducing by -62% against the previous year. In general, the export price continues to indicate a deep setback. The pace of growth appeared the most rapid in 2021 when the average export price increased by 197% against the previous year. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Germany ($X per ton), while the average price for exports to Sweden ($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 Germany (+1.4%), while the prices for the other major destinations experienced a decline.

Orthopaedic Appliances Imports

Imports into Serbia

In 2022, supplies from abroad of orthopaedic appliances and splints decreased by -2.1% to X tons, falling for the second consecutive year after three years of growth. In general, imports, however, saw a resilient expansion. The most prominent rate of growth was recorded in 2013 with an increase of 42%. Imports peaked at X tons in 2020; however, from 2021 to 2022, imports failed to regain momentum.

In value terms, orthopaedic appliances imports rose remarkably to $X in 2022. Overall, imports, however, enjoyed a resilient increase. The growth pace was the most rapid in 2018 when imports increased by 35%. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in the near future.

Imports by Country

China (X tons), Greece (X tons) and Turkey (X tons) were the main suppliers of orthopaedic appliances imports to Serbia, together accounting for 66% of total imports. Germany, Taiwan (Chinese), Italy and the Czech Republic lagged somewhat behind, together accounting for a further 21%.

From 2012 to 2022, the biggest increases were recorded for the Czech Republic (with a CAGR of +65.7%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest orthopaedic appliances suppliers to Serbia were China ($X), Germany ($X) and Turkey ($X), with a combined 47% share of total imports. Taiwan (Chinese), the Czech Republic, Greece and Italy lagged somewhat behind, together comprising a further 14%.

Among the main suppliers, the Czech Republic, with a CAGR of +80.9%, saw the highest growth rate of 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, growing by 7.5% against the previous year. In general, the import price, however, saw a perceptible curtailment. The most prominent rate of growth was recorded in 2021 an increase of 46%. Over the period under review, average import prices attained the peak figure at $X per ton in 2014; however, from 2015 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 Germany ($X per ton), while the price for Greece ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+20.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform