South-Eastern Asia: Orthopedic Prosthetics Market 2024

Orthopedic Prosthetics Market Size in South-Eastern Asia

In 2022, the Southeast Asian orthopedic prosthetics market was finally on the rise to reach $X for the first time since 2019, thus ending a two-year declining trend. Over the period under review, consumption showed prominent growth. Over the period under review, the market reached the maximum level in 2022 and is likely to see gradual growth in years to come.

Orthopedic Prosthetics Production in South-Eastern Asia

In value terms, orthopedic prosthetics production shrank slightly to $X in 2022 estimated in export price. Overall, production, however, showed a prominent expansion. The growth pace was the most rapid in 2019 with an increase of 33% against the previous year. As a result, production attained the peak level of $X; afterwards, it flattened through to 2022.

Orthopedic Prosthetics Exports

Exports in South-Eastern Asia

In 2022, shipments abroad of artificial parts of the body (excl. artificial teeth and dental fittings and artificial joints) decreased by -15.1% to X units, falling for the second consecutive year after nine years of growth. Over the period under review, exports, however, recorded a remarkable increase. The most prominent rate of growth was recorded in 2013 with an increase of 58%. The volume of export peaked at X units in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

In value terms, orthopedic prosthetics exports contracted to $X in 2022. In general, exports, however, saw a significant expansion. The pace of growth was the most pronounced in 2013 when exports increased by 64% against the previous year. The level of export peaked at $X in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Singapore represented the major exporter of artificial parts of the body (excl. artificial teeth and dental fittings and artificial joints) in South-Eastern Asia, with the volume of exports amounting to X units, which was approx. 86% of total exports in 2022. It was distantly followed by Thailand (X units), constituting a 12% share of total exports.

Exports from Singapore increased at an average annual rate of +15.1% from 2012 to 2022. At the same time, Thailand (+36.3%) displayed positive paces of growth. Moreover, Thailand emerged as the fastest-growing exporter exported in South-Eastern Asia, with a CAGR of +36.3% from 2012-2022. From 2012 to 2022, the share of Thailand increased by +9.8 percentage points.

In value terms, Singapore ($X) remains the largest orthopedic prosthetics supplier in South-Eastern Asia, comprising 91% of total exports. The second position in the ranking was taken by Thailand ($X), with an 8.3% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value in Singapore amounted to +19.2%.

Export Prices by Country

In 2022, the export price in South-Eastern Asia amounted to $X per unit, remaining stable against the previous year. Over the last decade, it increased at an average annual rate of +3.1%. The most prominent rate of growth was recorded in 2018 when the export price increased by 14%. The level of export peaked at $X per unit in 2020; however, from 2021 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Singapore ($X per unit), while Thailand stood at $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Singapore (+3.6%).

Orthopedic Prosthetics Imports

Imports in South-Eastern Asia

In 2022, the amount of artificial parts of the body (excl. artificial teeth and dental fittings and artificial joints) imported in South-Eastern Asia expanded markedly to X units, picking up by 10% on 2021 figures. The total import volume increased at an average annual rate of +3.2% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2013 with an increase of 39% against the previous year. The volume of import peaked at X units in 2019; however, from 2020 to 2022, imports remained at a lower figure.

In value terms, orthopedic prosthetics imports skyrocketed to $X in 2022. Overall, imports recorded a buoyant expansion. The pace of growth appeared the most rapid in 2013 with an increase of 38%. The level of import peaked in 2022 and is expected to retain growth in the near future.

Imports by Country

The purchases of the three major importers of artificial parts of the body (excl. artificial teeth and dental fittings and artificial joints), namely Thailand, Malaysia and Singapore, represented more than two-thirds of total import. It was distantly followed by Vietnam (X units), creating an 11% share of total imports. The following importers - the Philippines (X units) and Myanmar (X units) - together made up 4.9% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Myanmar (with a CAGR of +190.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest orthopedic prosthetics importing markets in South-Eastern Asia were Singapore ($X), Thailand ($X) and Vietnam ($X), with a combined 86% share of total imports. Malaysia, the Philippines and Myanmar lagged somewhat behind, together accounting for a further 13%.

Myanmar, with a CAGR of +127.0%, saw the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in South-Eastern Asia amounted to $X per unit, increasing by 5.3% against the previous year. Import price indicated a temperate increase from 2012 to 2022: its price increased at an average annual rate of +4.6% 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 +75.2% against 2014 indices. The growth pace was the most rapid in 2019 an increase of 24% against the previous year. The level of import peaked in 2022 and is likely to see steady growth in the immediate term.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Philippines (+18.1%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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