Southern Asia: Orthopaedic Appliances Market 2024

Orthopaedic Appliances Market Size in Southern Asia

The South Asian orthopaedic appliances market totaled $X in 2022, with an increase of 6.3% against the previous year. The total consumption indicated buoyant growth from 2012 to 2022: its value increased at an average annual rate of +7.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -5.3% against 2020 indices. As a result, consumption attained the peak level of $X. From 2021 to 2022, the growth of the market remained at a lower figure.

Orthopaedic Appliances Production in Southern Asia

In value terms, orthopaedic appliances production rose sharply to $X in 2022 estimated in export price. The total production indicated a buoyant expansion from 2012 to 2022: its value increased at an average annual rate of +7.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -5.7% against 2020 indices. The most prominent rate of growth was recorded in 2020 with an increase of 29% against the previous year. As a result, production attained the peak level of $X. From 2021 to 2022, production growth remained at a somewhat lower figure.

Orthopaedic Appliances Exports

Exports in Southern Asia

In 2022, approx. X tons of orthopaedic appliances and splints were exported in Southern Asia; increasing by 4% on the previous year's figure. Over the period under review, exports recorded a resilient increase. The pace of growth was the most pronounced in 2019 when exports increased by 47% against the previous year. The volume of export peaked in 2022 and is expected to retain growth in years to come.

In value terms, orthopaedic appliances exports expanded sharply to $X in 2022. Overall, exports posted prominent growth. The most prominent rate of growth was recorded in 2019 with an increase of 50%. The level of export peaked in 2022 and is likely to continue growth in the immediate term.

Exports by Country

India dominates exports structure, reaching X tons, which was near 85% of total exports in 2022. It was distantly followed by Sri Lanka (X tons) and Bangladesh (X tons), together creating a 15% share of total exports.

From 2012 to 2022, average annual rates of growth with regard to orthopaedic appliances exports from India stood at +12.7%. At the same time, Sri Lanka (+17.4%) and Bangladesh (+10.4%) displayed positive paces of growth. Moreover, Sri Lanka emerged as the fastest-growing exporter exported in Southern Asia, with a CAGR of +17.4% from 2012-2022. From 2012 to 2022, the share of Sri Lanka increased by +2.7 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, India ($X) remains the largest orthopaedic appliances supplier in Southern Asia, comprising 84% of total exports. The second position in the ranking was held by Bangladesh ($X), with a 13% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value in India amounted to +16.2%. The remaining exporting countries recorded the following average annual rates of exports growth: Bangladesh (+15.1% per year) and Sri Lanka (+2.9% per year).

Export Prices by Country

In 2022, the export price in Southern Asia amounted to $X per ton, growing by 3.5% against the previous year. Over the last decade, it increased at an average annual rate of +2.2%. The pace of growth was the most pronounced in 2013 when the export price increased by 16%. The level of export peaked at $X per ton in 2020; however, from 2021 to 2022, the export prices stood at a somewhat lower figure.

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 Bangladesh ($X per ton), while Sri Lanka ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Bangladesh (+4.2%), while the other leaders experienced mixed trends in the export price figures.

Orthopaedic Appliances Imports

Imports in Southern Asia

In 2022, overseas purchases of orthopaedic appliances and splints increased by 19% to X tons, rising for the second consecutive year after three years of decline. The total import volume increased at an average annual rate of +2.0% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2017 when imports increased by 43%. As a result, imports attained the peak of X tons. From 2018 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, orthopaedic appliances imports rose rapidly to $X in 2022. Total imports indicated a notable increase from 2012 to 2022: its value increased at an average annual rate of +3.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +54.8% against 2020 indices. The growth pace was the most rapid in 2021 when imports increased by 37%. Over the period under review, imports hit record highs in 2022 and are likely to see steady growth in the near future.

Imports by Country

India prevails in imports structure, reaching X tons, which was near 73% of total imports in 2022. Bangladesh (X tons) took the second position in the ranking, followed by Sri Lanka (X tons) and Nepal (X tons). All these countries together took near 24% share of total imports. Pakistan (X tons) followed a long way behind the leaders.

Imports into India increased at an average annual rate of +2.5% from 2012 to 2022. At the same time, Sri Lanka (+3.4%) and Nepal (+1.5%) displayed positive paces of growth. Moreover, Sri Lanka emerged as the fastest-growing importer imported in Southern Asia, with a CAGR of +3.4% from 2012-2022. Bangladesh experienced a relatively flat trend pattern. By contrast, Pakistan (-2.8%) illustrated a downward trend over the same period. From 2012 to 2022, the share of India increased by +3.6 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, India ($X) constitutes the largest market for imported orthopaedic appliances and splints in Southern Asia, comprising 78% of total imports. The second position in the ranking was held by Sri Lanka ($X), with an 11% share of total imports. It was followed by Nepal, with a 4.8% share.

From 2012 to 2022, the average annual rate of growth in terms of value in India stood at +2.9%. In the other countries, the average annual rates were as follows: Sri Lanka (+4.7% per year) and Nepal (+11.1% per year).

Import Prices by Country

The import price in Southern Asia stood at $X per ton in 2022, shrinking by -5.3% against the previous year. Import price indicated mild growth from 2012 to 2022: its price increased at an average annual rate of +1.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, orthopaedic appliances import price increased by +68.6% against 2017 indices. The pace of growth was the most pronounced in 2018 when the import price increased by 20%. The level of import peaked at $X per ton in 2021, and then contracted in the following year.

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 Sri Lanka ($X per ton), while Bangladesh ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Nepal (+9.5%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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