Uruguay: Orthopedic Prosthetics Market 2024

Orthopedic Prosthetics Market Size in Uruguay

The Uruguayan orthopedic prosthetics market surged to $X in 2022, increasing by 39% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption showed strong growth. Over the period under review, the market hit record highs in 2022 and is expected to retain growth in the near future.

Orthopedic Prosthetics Exports

Exports from Uruguay

In 2022, the amount of artificial parts of the body (excl. artificial teeth and dental fittings and artificial joints) exported from Uruguay reduced remarkably to X units, shrinking by -28% compared with 2021. In general, exports recorded a abrupt slump. The growth pace was the most rapid in 2017 with an increase of 1,368%. The exports peaked at X units in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

In value terms, orthopedic prosthetics exports declined markedly to $X in 2022. Over the period under review, exports recorded a abrupt descent. The pace of growth was the most pronounced in 2017 with an increase of 863%. The exports peaked at $X in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

Exports by Country

The UK (X units), Venezuela (X units) and Argentina (X units) were the main destinations of orthopedic prosthetics exports from Uruguay, together comprising 69% 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 the UK (with a CAGR of +24.4%), while the other leaders experienced more modest paces of growth.

In value terms, Venezuela ($X), the Dominican Republic ($X) and Costa Rica ($X) appeared to be the largest markets for orthopedic prosthetics exported from Uruguay worldwide, with a combined 71% share of total exports. The UK, Argentina, Paraguay and France lagged somewhat behind, together accounting for a further 18%.

In terms of the main countries of destination, Paraguay, with a CAGR of +17.2%, recorded 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

In 2022, the average orthopedic prosthetics export price amounted to $X per unit, which is down by -11.2% against the previous year. Over the period under review, the export price, however, enjoyed mild growth. The pace of growth was the most pronounced in 2020 an increase of 77%. Over the period under review, the average export prices reached the maximum at $X per unit in 2021, and then declined in the following year.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was the Dominican Republic ($X per unit), while the average price for exports to the UK ($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 Tunisia (+61.9%), while the prices for the other major destinations experienced more modest paces of growth.

Orthopedic Prosthetics Imports

Imports into Uruguay

In 2022, purchases abroad of artificial parts of the body (excl. artificial teeth and dental fittings and artificial joints) increased by 57% to X units, rising for the second year in a row after three years of decline. Overall, total imports indicated resilient growth from 2012 to 2022: its volume increased at an average annual rate of +6.5% 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 +74.9% against 2020 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, orthopedic prosthetics imports soared to $X in 2022. In general, imports showed a remarkable increase. The most prominent rate of growth was recorded in 2021 when imports increased by 53%. Imports peaked in 2022 and are likely to continue growth in the near future.

Imports by Country

The United States (X units), Germany (X units) and the Netherlands (X units) were the main suppliers of orthopedic prosthetics imports to Uruguay, with a combined 74% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Germany (with a CAGR of +27.5%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) constituted the largest supplier of artificial parts of the body (excl. artificial teeth and dental fittings and artificial joints) to Uruguay, comprising 56% of total imports. The second position in the ranking was held by Mexico ($X), with a 13% share of total imports. It was followed by Germany, with a 6.8% share.

From 2012 to 2022, the average annual rate of growth in terms of value from the United States totaled +10.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Mexico (+20.4% per year) and Germany (+31.9% per year).

Import Prices by Country

The average orthopedic prosthetics import price stood at $X per unit in 2022, shrinking by -14% against the previous year. Over the period under review, the import price, however, recorded noticeable growth. The most prominent rate of growth was recorded in 2019 an increase of 41% against the previous year. The import price peaked at $X per unit in 2021, and then shrank in the following year.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (+18.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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