Vietnam: Medical Reconstruction Cements Market 2024

Medical Reconstruction Cements Market Size in Vietnam

In 2021, after three years of growth, there was decline in the Vietnamese medical reconstruction cements market, when its value decreased by -1.4% to $X. Overall, consumption, however, showed a resilient expansion. Medical reconstruction cements consumption peaked at $X in 2020, and then declined slightly in the following year.

Medical Reconstruction Cements Production in Vietnam

In value terms, medical reconstruction cements production shrank modestly to $X in 2021 estimated in export price. Overall, production, however, enjoyed prominent growth. The pace of growth was the most pronounced in 2018 when the production volume increased by 105% against the previous year. Medical reconstruction cements production peaked at $X in 2020, and then dropped in the following year.

Medical Reconstruction Cements Exports

Exports from Vietnam

In 2021, the amount of dental cements and bone reconstruction cements exported from Vietnam surged to X tons, rising by 58% against the year before. Over the period under review, exports enjoyed prominent growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, medical reconstruction cements exports surged to $X in 2021. In general, exports enjoyed a resilient increase. The most prominent rate of growth was recorded in 2019 with an increase of 65% against the previous year. Over the period under review, the exports reached the peak figure in 2021 and are expected to retain growth in the near future.

Exports by Country

South Korea (X tons) was the main destination for medical reconstruction cements exports from Vietnam, with a 49% share of total exports. Moreover, medical reconstruction cements exports to South Korea exceeded the volume sent to the second major destination, the United States (X tons), threefold. The third position in this ranking was taken by Russia (X tons), with a 9% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to South Korea amounted to +54.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+7.9% per year) and Russia (+5.9% per year).

In value terms, South Korea ($X) remains the key foreign market for dental cements and bone reconstruction cements exports from Vietnam, comprising 48% of total exports. The second position in the ranking was held by the United States ($X), with a 15% share of total exports. It was followed by Russia, with a 9% share.

From 2012 to 2021, the average annual rate of growth in terms of value to South Korea stood at +67.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+16.6% per year) and Russia (+14.5% per year).

Export Prices by Country

The average medical reconstruction cements export price stood at $X per ton in 2021, with a decrease of -3.3% against the previous year. Overall, export price indicated a buoyant expansion from 2012 to 2021: its price increased at an average annual rate of +7.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, medical reconstruction cements export price decreased by -10.3% against 2019 indices. The most prominent rate of growth was recorded in 2018 when the average export price increased by 45% against the previous year. The export price peaked at $X per ton in 2019; however, from 2020 to 2021, the export prices failed to regain momentum.

Average prices varied noticeably for the major external markets. In 2021, amid the top suppliers, the countries with the highest prices were Poland ($X per ton) and Finland ($X per ton), while the average price for exports to China ($X per ton) and South Korea ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Estonia (+18.6%), while the prices for the other major destinations experienced more modest paces of growth.

Medical Reconstruction Cements Imports

Imports into Vietnam

For the third year in a row, Vietnam recorded growth in supplies from abroad of dental cements and bone reconstruction cements, which increased by 25% to X tons in 2021. Overall, imports showed a resilient expansion. The most prominent rate of growth was recorded in 2019 with an increase of 96%. Over the period under review, imports attained the maximum in 2021 and are likely to see gradual growth in years to come.

In value terms, medical reconstruction cements imports reached $X in 2021. Over the period under review, imports posted a resilient expansion. The pace of growth appeared the most rapid in 2017 when imports increased by 40% against the previous year. Imports peaked in 2021 and are expected to retain growth in the immediate term.

Imports by Country

In 2021, Japan (X tons) constituted the largest supplier of medical reconstruction cements to Vietnam, with a 38% share of total imports. Moreover, medical reconstruction cements imports from Japan exceeded the figures recorded by the second-largest supplier, the United States (X tons), twofold. The third position in this ranking was held by Germany (X tons), with a 13% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Japan amounted to +13.9%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+17.0% per year) and Germany (+17.4% per year).

In value terms, Japan ($X) constituted the largest supplier of dental cements and bone reconstruction cements to Vietnam, comprising 38% of total imports. The second position in the ranking was held by the United States ($X), with an 18% share of total imports. It was followed by Germany, with a 13% share.

From 2012 to 2021, the average annual growth rate of value from Japan amounted to +11.6%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+14.7% per year) and Germany (+15.1% per year).

Import Prices by Country

The average medical reconstruction cements import price stood at $X per ton in 2021, shrinking by -11.9% against the previous year. In general, the import price recorded a pronounced slump. The most prominent rate of growth was recorded in 2014 when the average import price increased by 19%. The import price peaked at $X per ton in 2018; however, from 2019 to 2021, import prices remained at a lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2021, amid the top importers, the highest price was recorded for prices from Japan ($X per ton) and the United States ($X per ton), while the price for France ($X per ton) and Italy ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Switzerland (-2.0%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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