South-Eastern Asia: Orthopaedic Appliances Market 2024

Orthopaedic Appliances Market Size in South-Eastern Asia

The Southeast Asian orthopaedic appliances market expanded remarkably to $X in 2022, increasing by 13% against the previous year. Over the period under review, consumption recorded prominent growth. As a result, consumption attained the peak level of $X. From 2021 to 2022, the growth of the market remained at a somewhat lower figure.

Orthopaedic Appliances Production in South-Eastern Asia

In value terms, orthopaedic appliances production reached $X in 2022 estimated in export price. In general, production continues to indicate buoyant growth. The most prominent rate of growth was recorded in 2020 with an increase of 80% against the previous year. As a result, production reached the peak level of $X. From 2021 to 2022, production growth remained at a somewhat lower figure.

Orthopaedic Appliances Exports

Exports in South-Eastern Asia

In 2022, orthopaedic appliances exports in South-Eastern Asia declined remarkably to X tons, which is down by -18.3% compared with 2021. Over the period under review, exports, however, enjoyed a significant expansion. The pace of growth was the most pronounced in 2017 with an increase of 71%. The volume of export peaked at X tons in 2021, and then declined significantly in the following year.

In value terms, orthopaedic appliances exports fell to $X in 2022. Overall, exports, however, enjoyed strong growth. The most prominent rate of growth was recorded in 2016 with an increase of 75% against the previous year. The level of export peaked at $X in 2020; however, from 2021 to 2022, the exports failed to regain momentum.

Exports by Country

Vietnam represented the major exporter of orthopaedic appliances and splints in South-Eastern Asia, with the volume of exports accounting for X tons, which was near 81% of total exports in 2022. Singapore (X tons) held the second position in the ranking, followed by Malaysia (X tons). All these countries together took approx. 18% share of total exports.

Vietnam was also the fastest-growing in terms of the orthopaedic appliances and splints exports, with a CAGR of +26.9% from 2012 to 2022. At the same time, Singapore (+10.1%) and Malaysia (+7.4%) displayed positive paces of growth. Vietnam (+31 p.p.) significantly strengthened its position in terms of the total exports, while Malaysia and Singapore saw its share reduced by -12.2% and -18.8% from 2012 to 2022, respectively.

In value terms, Vietnam ($X), Singapore ($X) and Malaysia ($X) constituted the countries with the highest levels of exports in 2022, together accounting for 97% of total exports.

In terms of the main exporting countries, Vietnam, with a CAGR of +27.9%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in South-Eastern Asia stood at $X per ton in 2022, rising by 8.3% against the previous year. In general, the export price, however, saw a noticeable decline. The most prominent rate of growth was recorded in 2020 an increase of 53%. Over the period under review, the export prices attained the peak figure at $X per ton in 2016; however, from 2017 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Malaysia ($X per ton), while Vietnam ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Malaysia (+4.1%), while the other leaders experienced more modest paces of growth.

Orthopaedic Appliances Imports

Imports in South-Eastern Asia

In 2022, the amount of orthopaedic appliances and splints imported in South-Eastern Asia skyrocketed to X tons, growing by 20% against the year before. In general, imports continue to indicate a remarkable increase. The pace of growth was the most pronounced in 2016 with an increase of 38%. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in years to come.

In value terms, orthopaedic appliances imports surged to $X in 2022. Over the period under review, imports recorded buoyant growth. The most prominent rate of growth was recorded in 2018 with an increase of 30%. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in the immediate term.

Imports by Country

Singapore represented the main importing country with an import of about X tons, which recorded 44% of total imports. Indonesia (X tons) held the second position in the ranking, distantly followed by Malaysia (X tons), the Philippines (X tons), Vietnam (X tons) and Thailand (X tons). All these countries together took near 53% share of total imports. Myanmar (X tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to orthopaedic appliances imports into Singapore stood at +11.0%. At the same time, Indonesia (+33.7%), Vietnam (+21.3%), Thailand (+15.3%), the Philippines (+14.4%), Myanmar (+10.9%) and Malaysia (+9.1%) displayed positive paces of growth. Moreover, Indonesia emerged as the fastest-growing importer imported in South-Eastern Asia, with a CAGR of +33.7% from 2012-2022. From 2012 to 2022, the share of Indonesia and Vietnam increased by +17 and +3.4 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Singapore ($X) constitutes the largest market for imported orthopaedic appliances and splints in South-Eastern Asia, comprising 41% of total imports. The second position in the ranking was taken by Thailand ($X), with a 19% share of total imports. It was followed by Vietnam, with an 18% share.

In Singapore, orthopaedic appliances imports increased at an average annual rate of +11.3% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Thailand (+9.9% per year) and Vietnam (+21.6% per year).

Import Prices by Country

In 2022, the import price in South-Eastern Asia amounted to $X per ton, with a decrease of -3.8% against the previous year. Over the period under review, the import price continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 an increase of 14%. Over the period under review, import prices attained the peak figure at $X per ton in 2015; however, from 2016 to 2022, import prices remained at a lower figure.

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 Thailand ($X per ton), while Myanmar ($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 Philippines (+9.2%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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