Global Orthopedic Prosthetics Market 2024

Orthopedic Prosthetics Market Size

In 2022, the global orthopedic prosthetics market increased by 7.8% to $X, rising for the sixth consecutive year after two years of decline. Over the period under review, the total consumption indicated a buoyant increase from 2012 to 2022: its value increased at an average annual rate of +5.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +85.9% against 2016 indices. Global consumption peaked in 2022 and is expected to retain growth in years to come.

Orthopedic Prosthetics Production

In value terms, orthopedic prosthetics production skyrocketed to $X in 2022 estimated in export price. Overall, production, however, recorded a noticeable slump. The pace of growth was the most pronounced in 2017 when the production volume increased by 170%. Global production peaked at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Orthopedic Prosthetics Exports

Exports

In 2022, the amount of artificial parts of the body (excl. artificial teeth and dental fittings and artificial joints) exported worldwide rose modestly to X units, picking up by 2.8% compared with the previous year's figure. The total export volume increased at an average annual rate of +1.4% over the period from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations throughout the analyzed period. The growth pace was the most rapid in 2017 with an increase of 15%. As a result, the exports reached the peak of X units; afterwards, it flattened through to 2022.

In value terms, orthopedic prosthetics exports fell to $X in 2022. The total export value increased at an average annual rate of +4.2% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2021 when exports increased by 21% against the previous year. As a result, the exports attained the peak of $X, and then declined in the following year.

Exports by Country

In 2022, the Netherlands (X units), distantly followed by the United States (X units), Germany (X units), Belgium (X units), Costa Rica (X units), Singapore (X units) and Ireland (X units) represented the main exporters of artificial parts of the body (excl. artificial teeth and dental fittings and artificial joints), together making up 69% of total exports. France (X units), the UK (X units), Austria (X units), China (X units), Mexico (X units) and Spain (X units) followed a long way behind the leaders.

Exports from the Netherlands increased at an average annual rate of +7.8% from 2012 to 2022. At the same time, Mexico (+15.5%), Singapore (+15.1%), China (+14.5%), Spain (+9.3%), the UK (+6.2%), Costa Rica (+5.4%), Belgium (+4.1%) and Ireland (+3.3%) displayed positive paces of growth. Moreover, Mexico emerged as the fastest-growing exporter exported in the world, with a CAGR of +15.5% from 2012-2022. Austria experienced a relatively flat trend pattern. By contrast, Germany (-2.3%), France (-3.9%) and the United States (-9.8%) illustrated a downward trend over the same period. The Netherlands (+10 p.p.), Singapore (+4.7 p.p.), Costa Rica (+2.3 p.p.), China (+2 p.p.) and Belgium (+1.9 p.p.) significantly strengthened its position in terms of the global exports, while France, Germany and the United States saw its share reduced by -3.1%, -4% and -23.4% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest orthopedic prosthetics supplying countries worldwide were the United States ($X), the Netherlands ($X) and Belgium ($X), together comprising 56% of global exports. Singapore, Germany, Costa Rica, Ireland, the UK, France, Mexico, Austria, Spain and China lagged somewhat behind, together accounting for a further 31%.

Among the main exporting countries, Singapore, with a CAGR of +19.2%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average orthopedic prosthetics export price amounted to $X per unit, dropping by -10.3% against the previous year. Over the last decade, it increased at an average annual rate of +2.7%. The most prominent rate of growth was recorded in 2020 when the average export price increased by 15%. The global export price peaked at $X per unit in 2021, and then declined in the following year.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per unit), while China ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+12.5%), while the other global leaders experienced more modest paces of growth.

Orthopedic Prosthetics Imports

Imports

Global orthopedic prosthetics imports stood at X units in 2022, growing by 9.6% compared with the previous year. The total import volume increased at an average annual rate of +4.3% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2021 with an increase of 20% against the previous year. Over the period under review, global imports hit record highs in 2022 and are likely to see steady growth in the near future.

In value terms, orthopedic prosthetics imports totaled $X in 2022. The total import value increased at an average annual rate of +3.2% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2021 when imports increased by 20%. Global imports peaked in 2022 and are likely to continue growth in the immediate term.

Imports by Country

In 2022, the United States (X units), followed by the Netherlands (X units), the UK (X units), Spain (X units), Belgium (X units) and France (X units) represented the key importers of artificial parts of the body (excl. artificial teeth and dental fittings and artificial joints), together constituting 53% of total imports. The following importers - Germany (X units), Japan (X units), Ireland (X units), China (X units), Turkey (X units), Italy (X units) and Slovakia (X units) - together made up 17% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Slovakia (with a CAGR of +33.8%), while imports for the other global leaders experienced more modest paces of growth.

In value terms, the United States ($X) constitutes the largest market for imported artificial parts of the body (excl. artificial teeth and dental fittings and artificial joints) worldwide, comprising 28% of global imports. The second position in the ranking was held by the Netherlands ($X), with a 12% share of global imports. It was followed by Germany, with a 5.6% share.

In the United States, orthopedic prosthetics imports increased at an average annual rate of +4.1% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: the Netherlands (+1.2% per year) and Germany (+2.8% per year).

Import Prices by Country

The average orthopedic prosthetics import price stood at $X per unit in 2022, waning by -8.2% against the previous year. In general, the import price recorded a mild shrinkage. The growth pace was the most rapid in 2020 when the average import price increased by 17% against the previous year. Global import price peaked at $X per unit in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was China ($X per unit), while Slovakia ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by France (+4.1%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Platform

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