Thailand: Orthopedic Prosthetics Market 2024

Orthopedic Prosthetics Market Size in Thailand

The Thai orthopedic prosthetics market reduced to $X in 2022, waning by -7.6% against the previous year. Overall, the total consumption indicated pronounced growth from 2012 to 2022: its value increased at an average annual rate of +2.9% 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 -28.6% against 2019 indices. Orthopedic prosthetics consumption peaked at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Orthopedic Prosthetics Production in Thailand

In value terms, orthopedic prosthetics production dropped to $X in 2022 estimated in export price. In general, the total production indicated a moderate increase from 2012 to 2022: its value increased at an average annual rate of +4.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +10.2% against 2020 indices. The growth pace was the most rapid in 2018 with an increase of 24% against the previous year. Orthopedic prosthetics production peaked at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Orthopedic Prosthetics Exports

Exports from Thailand

For the fourth year in a row, Thailand recorded growth in overseas shipments of artificial parts of the body (excl. artificial teeth and dental fittings and artificial joints), which increased by 37% to X units in 2022. In general, exports enjoyed a significant expansion. The growth pace was the most rapid in 2021 with an increase of 401% against the previous year. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in the near future.

In value terms, orthopedic prosthetics exports soared to $X in 2022. Over the period under review, exports enjoyed significant growth. The pace of growth appeared the most rapid in 2021 with an increase of 409% against the previous year. Over the period under review, the exports reached the maximum in 2022 and are expected to retain growth in years to come.

Exports by Country

Germany (X units), Japan (X units) and India (X units) were the main destinations of orthopedic prosthetics exports from Thailand, together accounting for 75% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by India (with a CAGR of +310.6%), while the other leaders experienced more modest paces of growth.

In value terms, Japan ($X), Germany ($X) and China ($X) were the largest markets for orthopedic prosthetics exported from Thailand worldwide, together comprising 77% of total exports. India, Malaysia, Singapore, Bangladesh and Brazil lagged somewhat behind, together comprising a further 11%.

In terms of the main countries of destination, India, with a CAGR of +362.1%, saw the highest rates of growth with regard to 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 average orthopedic prosthetics export price stood at $X per unit in 2022, reducing by -9.7% against the previous year. Overall, the export price, however, enjoyed pronounced growth. The most prominent rate of growth was recorded in 2016 an increase of 167%. The export price peaked at $X per unit in 2018; however, from 2019 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Bangladesh ($X per unit), while the average price for exports to Brazil ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Bangladesh (+272.2%), while the prices for the other major destinations experienced more modest paces of growth.

Orthopedic Prosthetics Imports

Imports into Thailand

Orthopedic prosthetics imports into Thailand surged to X units in 2022, picking up by 32% compared with the previous year. Overall, total imports indicated a prominent increase from 2012 to 2022: its volume increased at an average annual rate of +6.9% 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 +102.9% against 2014 indices. The pace of growth appeared the most rapid in 2020 when imports increased by 34% against the previous year. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in the immediate term.

In value terms, orthopedic prosthetics imports soared to $X in 2022. Over the period under review, total imports indicated buoyant growth from 2012 to 2022: its value increased at an average annual rate of +7.5% 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 +106.4% against 2015 indices. The most prominent rate of growth was recorded in 2013 when imports increased by 56% against the previous year. Over the period under review, imports attained the maximum in 2022 and are likely to see gradual growth in the immediate term.

Imports by Country

The Netherlands (X units), the United States (X units) and Costa Rica (X units) were the main suppliers of orthopedic prosthetics imports to Thailand, together accounting for 57% of total imports. Singapore, Ireland, France, China, Germany, Hungary and Brazil lagged somewhat behind, together accounting for a further 35%.

From 2012 to 2022, the biggest increases were recorded for Singapore (with a CAGR of +40.6%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest orthopedic prosthetics suppliers to Thailand were the United States ($X), Ireland ($X) and Singapore ($X), with a combined 59% share of total imports.

In terms of the main suppliers, Singapore, with a CAGR of +43.9%, recorded the highest rates of growth with regard to 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 orthopedic prosthetics import price stood at $X per unit in 2022, picking up by 2.5% against the previous year. Over the period under review, the import price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 when the average import price increased by 22% against the previous year. The import price peaked at $X per unit in 2013; however, from 2014 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 Germany ($X per unit), while the price for the Netherlands ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+12.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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