United Kingdom: Orthopedic Prosthetics Market 2024

Orthopedic Prosthetics Market Size in the UK

In 2022, the UK orthopedic prosthetics market increased by 47% to $X, rising for the third year in a row after two years of decline. Over the period under review, consumption continues to indicate a prominent increase. Over the period under review, the market hit record highs in 2022 and is likely to continue growth in the near future.

Orthopedic Prosthetics Production in the UK

In value terms, orthopedic prosthetics production amounted to $X in 2022 estimated in export price. In general, production, however, saw a mild expansion. The most prominent rate of growth was recorded in 2014 when the production volume increased by 21% against the previous year. Orthopedic prosthetics production peaked at $X in 2018; however, from 2019 to 2022, production failed to regain momentum.

Orthopedic Prosthetics Exports

Exports from the UK

Orthopedic prosthetics exports from the UK expanded notably to X units in 2022, increasing by 9.2% on the previous year. Over the period under review, total exports indicated buoyant growth from 2012 to 2022: its volume increased at an average annual rate of +6.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +66.0% against 2020 indices. The pace of growth was the most pronounced in 2021 when exports increased by 52% against the previous year. The exports peaked at X units in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

In value terms, orthopedic prosthetics exports totaled $X in 2022. Overall, exports continue to indicate a strong expansion. The most prominent rate of growth was recorded in 2021 with an increase of 41% against the previous year. Over the period under review, the exports reached the maximum in 2022 and are likely to see gradual growth in the near future.

Exports by Country

The United States (X units), Ireland (X units) and the Netherlands (X units) were the main destinations of orthopedic prosthetics exports from the UK, with a combined 38% share of total exports. Germany, Italy, Brazil, India, China, France, Russia, Mexico, Pakistan and Spain lagged somewhat behind, together accounting for a further 38%.

From 2012 to 2022, the biggest increases were recorded for Mexico (with a CAGR of +37.5%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), Ireland ($X) and the Netherlands ($X) were the largest markets for orthopedic prosthetics exported from the UK worldwide, together accounting for 52% of total exports.

The Netherlands, with a CAGR of +29.9%, saw the highest rates of growth with regard to the value of exports, among the main countries of destination 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, falling by -6.3% against the previous year. Overall, export price indicated mild growth from 2012 to 2022: its price increased at an average annual rate of +1.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, orthopedic prosthetics export price decreased by -13.0% against 2020 indices. The pace of growth appeared the most rapid in 2020 an increase of 46% against the previous year. As a result, the export price attained the peak level of $X per unit. From 2021 to 2022, the average export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per unit), while the average price for exports to Mexico ($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 the Netherlands (+10.9%), while the prices for the other major destinations experienced more modest paces of growth.

Orthopedic Prosthetics Imports

Imports into the UK

In 2022, overseas purchases of artificial parts of the body (excl. artificial teeth and dental fittings and artificial joints) increased by 54% to X units, rising for the second year in a row after two years of decline. Overall, imports showed a resilient expansion. The pace of growth appeared the most rapid in 2021 when imports increased by 134%. Imports peaked in 2022 and are likely to see steady growth in years to come.

In value terms, orthopedic prosthetics imports soared to $X in 2022. Over the period under review, imports showed resilient growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, Mexico (X units) constituted the largest orthopedic prosthetics supplier to the UK, accounting for a 48% share of total imports. Moreover, orthopedic prosthetics imports from Mexico exceeded the figures recorded by the second-largest supplier, the United States (X units), threefold. The third position in this ranking was held by Ireland (X units), with a 13% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Mexico totaled +90.7%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+22.8% per year) and Ireland (+44.3% per year).

In value terms, the United States ($X), Singapore ($X) and Costa Rica ($X) were the largest orthopedic prosthetics suppliers to the UK, with a combined 61% share of total imports.

Costa Rica, with a CAGR of +253.9%, saw the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average orthopedic prosthetics import price amounted to $X per unit, shrinking by -11.5% against the previous year. Over the period under review, the import price saw a deep setback. The most prominent rate of growth was recorded in 2019 an increase of 26% against the previous year. The import price peaked at $X per unit in 2020; however, from 2021 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Costa Rica ($X per unit), while the price for Mexico ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Costa Rica (+17.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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