U.S.: Orthopedic Artificial Joints Market 2024

Orthopedic Artificial Joints Market Size in the U.S.

In 2022, after ten years of growth, there was significant decline in the U.S. orthopedic artificial joints market, when its value decreased by -87.6% to $X. Over the period under review, consumption continues to indicate a sharp decrease. As a result, consumption attained the peak level of $X, and then declined remarkably in the following year.

Orthopedic Artificial Joints Production in the U.S.

In value terms, orthopedic artificial joints production surged to $X in 2022. Overall, production, however, faced a deep setback. Orthopedic artificial joints production peaked at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Orthopedic Artificial Joints Exports

Exports from the U.S.

In 2022, approx. X units of artificial joints for orthopedic purposes were exported from the United States; increasing by 29% compared with 2021. Overall, exports, however, saw a abrupt contraction. The exports peaked at X units in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

In value terms, orthopedic artificial joints exports stood at $X in 2022. Over the period under review, exports, however, continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 with an increase of 8.2%. The exports peaked at $X in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

Exports by Country

The Netherlands (X units), China (X units) and Ireland (X units) were the main destinations of orthopedic artificial joints exports from the United States, together comprising 57% of total exports. Belgium, Japan, the UK, India, Singapore, Australia, South Korea, Switzerland and Germany lagged somewhat behind, together comprising a further 30%.

From 2020 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 +68.0%), while the other leaders experienced more modest paces of growth.

In value terms, the Netherlands ($X) remains the key foreign market for artificial joints for orthopedic purposes exports from the United States, comprising 28% of total exports. The second position in the ranking was taken by Japan ($X), with an 11% share of total exports. It was followed by Belgium, with an 8.3% share.

From 2020 to 2022, the average annual rate of growth in terms of value to the Netherlands stood at +18.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (-2.5% per year) and Belgium (+11.2% per year).

Export Prices by Country

In 2022, the average orthopedic artificial joints export price amounted to $X per unit, waning by -19.4% against the previous year. In general, export price indicated strong growth from 2020 to 2022: its price increased at an average annual rate of +12.1% over the last two years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, orthopedic artificial joints export price increased by +25.7% against 2020 indices. The pace of growth appeared the most rapid in 2021 when the average export price increased by 56%. As a result, the export price reached the peak level of $X per unit, and then declined remarkably in the following year.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Australia ($X per unit), while the average price for exports to Ireland ($X per unit) was amongst the lowest.

From 2020 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to South Korea (+19.2%), while the prices for the other major destinations experienced more modest paces of growth.

Orthopedic Artificial Joints Imports

Imports into the U.S.

In 2022, the amount of artificial joints for orthopedic purposes imported into the United States reduced to X units, which is down by -6.3% against the previous year. Over the period under review, imports showed a dramatic descent. Over the period under review, imports attained the peak figure at X units in 2020; however, from 2021 to 2022, imports failed to regain momentum.

In value terms, orthopedic artificial joints imports rose notably to $X in 2022. In general, total imports indicated resilient growth from 2012 to 2022: its value increased at an average annual rate of +6.4% 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 +14.3% against 2020 indices. The pace of growth was the most pronounced in 2018 with an increase of 17%. Imports peaked at $X in 2019; however, from 2020 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Ireland (X units) constituted the largest orthopedic artificial joints supplier to the United States, with a 40% share of total imports. Moreover, orthopedic artificial joints imports from Ireland exceeded the figures recorded by the second-largest supplier, Switzerland (X units), threefold. Germany (X units) ranked third in terms of total imports with an 11% share.

From 2020 to 2022, the average annual growth rate of volume from Ireland stood at -66.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Switzerland (-58.8% per year) and Germany (-59.8% per year).

In value terms, Ireland ($X) constituted the largest supplier of artificial joints for orthopedic purposes to the United States, comprising 50% of total imports. The second position in the ranking was taken by Germany ($X), with a 13% share of total imports. It was followed by France, with a 12% share.

From 2020 to 2022, the average annual growth rate of value from Ireland was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+16.0% per year) and France (+45.5% per year).

Import Prices by Country

In 2022, the average orthopedic artificial joints import price amounted to $X per unit, picking up by 12% against the previous year. In general, the import price enjoyed a significant increase. The most prominent rate of growth was recorded in 2021 an increase of 538% against the previous year. Over the period under review, average import prices reached the peak figure in 2022 and is likely to see steady growth in years to come.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Ireland ($X per unit), while the price for India ($X per unit) was amongst the lowest.

From 2020 to 2022, the most notable rate of growth in terms of prices was attained by Ireland (+198.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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