Sri Lanka: Orthopaedic Appliances Market 2024

Orthopaedic Appliances Market Size in Sri Lanka

The Sri Lankan orthopaedic appliances market contracted slightly to $X in 2022, declining by -1.7% against the previous year. In general, the total consumption indicated a strong expansion from 2012 to 2022: its value increased at an average annual rate of +5.6% 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 -8.6% against 2018 indices. Orthopaedic appliances consumption peaked at $X in 2018; however, from 2019 to 2022, consumption stood at a somewhat lower figure.

Orthopaedic Appliances Production in Sri Lanka

In value terms, orthopaedic appliances production declined to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +4.2% 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 2014 with an increase of 20% against the previous year. Orthopaedic appliances production peaked at $X in 2016; however, from 2017 to 2022, production failed to regain momentum.

Orthopaedic Appliances Exports

Exports from Sri Lanka

In 2022, orthopaedic appliances exports from Sri Lanka dropped to X tons, shrinking by -11.5% on 2021. Over the period under review, exports, however, posted a resilient expansion. The growth pace was the most rapid in 2018 with an increase of 205% against the previous year. Over the period under review, the exports hit record highs at X tons in 2021, and then dropped in the following year.

In value terms, orthopaedic appliances exports reduced dramatically to $X in 2022. Overall, exports, however, showed a temperate expansion. The most prominent rate of growth was recorded in 2018 when exports increased by 353% against the previous year. The exports peaked at $X in 2021, and then shrank rapidly in the following year.

Exports by Country

The United States (X tons) was the main destination for orthopaedic appliances exports from Sri Lanka, with a 79% share of total exports. Moreover, orthopaedic appliances exports to the United States exceeded the volume sent to the second major destination, the UK (X tons), fourfold.

From 2012 to 2022, the average annual growth rate of volume to the United States amounted to +23.9%.

In value terms, the United States ($X) remains the key foreign market for orthopaedic appliances and splints exports from Sri Lanka, comprising 80% of total exports. The second position in the ranking was held by the UK ($X), with a 19% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States totaled +12.1%.

Export Prices by Country

In 2022, the average orthopaedic appliances export price amounted to $X per ton, declining by -9.7% against the previous year. Overall, the export price faced a deep slump. The most prominent rate of growth was recorded in 2018 when the average export price increased by 49%. Over the period under review, the average export prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

Average prices varied noticeably for the major external 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 the UK amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United States (-9.5%), while the prices for the other major destinations experienced a decline.

Orthopaedic Appliances Imports

Imports into Sri Lanka

In 2022, overseas purchases of orthopaedic appliances and splints decreased by -13.9% to X tons, falling for the second year in a row after two years of growth. Over the period under review, total imports indicated a measured expansion from 2012 to 2022: its volume increased at an average annual rate of +3.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -25.4% against 2020 indices. The growth pace was the most rapid in 2016 when imports increased by 29%. Imports peaked at X tons in 2020; however, from 2021 to 2022, imports remained at a lower figure.

In value terms, orthopaedic appliances imports declined remarkably to $X in 2022. In general, total imports indicated a noticeable expansion from 2012 to 2022: its value increased at an average annual rate of +4.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2013 when imports increased by 68% against the previous year. Over the period under review, imports hit record highs at $X in 2021, and then fell significantly in the following year.

Imports by Country

China (X tons), India (X tons) and Taiwan (Chinese) (X tons) were the main suppliers of orthopaedic appliances imports to Sri Lanka, together comprising 82% of total imports. The United States, Switzerland, the UK, Mexico and Singapore lagged somewhat behind, together comprising a further 17%.

From 2012 to 2022, the biggest increases were recorded for Mexico (with a CAGR of +773.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest orthopaedic appliances suppliers to Sri Lanka were the United States ($X), India ($X) and China ($X), together comprising 89% of total imports. Switzerland, Taiwan (Chinese), the UK, Mexico and Singapore lagged somewhat behind, together comprising a further 11%.

Among the main suppliers, Mexico, with a CAGR of +456.0%, recorded 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

The average orthopaedic appliances import price stood at $X per ton in 2022, falling by -23.1% against the previous year. Overall, import price indicated a mild expansion from 2012 to 2022: its price increased at an average annual rate of +1.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2013 an increase of 48%. Over the period under review, average import prices reached the maximum at $X per ton in 2015; however, from 2016 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of origin: 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 China (+10.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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