Which Country Imports the Most Orthopedic Artificial Joints in the World?

IndexBox has just published a new report "World: Artificial Joints For Orthopedic Purposes - Market Report. Analysis and Forecast to 2025". Here is a summary of the report's key findings.

In 2016, approx. 295K tonnes of orthopedic prosthetics were imported worldwide- picking up by 85% against the previous year level. In general, orthopedic prosthetics imports continue to indicate a remarkable expansion. The pace of growth appeared the most rapid in 2016, an increase of 85% y-o-y. In that year, global orthopedic prosthetics imports attained its maximum volume, and are likely to continue its growth in the immediate term.

In value terms, orthopedic prosthetics imports stood at $54B in 2016. Overall, it indicated a prominent increase from 2007 to 2016: the total imports value increased at an average annual rate of +11.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations throughout the analyzed period. Based on the result of 2016, orthopedic prosthetics imports decreased by -1.2% against its level of 2014. Global orthopedic prosthetics import peaked of $55B in 2014- however, from 2015 to 2016, it failed to regain its strength.

Top Orthopedic Prosthetics Importing Countries in the World

1. Germany (5.4 billion USD)

2. Netherlands (5.0 billion USD)

3. France (3.6 billion USD)

4. Belgium (3.0 billion USD)

5. Japan (2.9 billion USD)

6. United Kingdom (2.1 billion USD)

7. Spain (1.2 billion USD)

8. Ireland (0.7 billion USD)

9. Mexico (0.4 billion USD)

10. Malaysia (0.3 billion USD)

Orthopedic Prosthetics Imports By Country

Malaysia (129K tonnes) was the largest importing country with an import of around 129K tonnes, which recorded 44% of total imports. It was distantly followed by Mexico (23K tonnes), the Netherlands (16K tonnes), the UK (16K tonnes), Germany (15K tonnes), and Belgium (14K tonnes), together mixed up 28% share of total orthopedic prosthetics imports. France (13K tonnes), Spain (6.4K tonnes), Ireland (4.9K tonnes), and Japan (4.6K tonnes) followed a long way behind this figure.

Imports into Malaysia decreased at an average annual rate of nan% from 2007 to 2016. At the same time, Japan (+15.3%), Germany (+13.2%), France (+9.5%), the UK (+7.1%), the Netherlands (+4.2%), Ireland (+3.6%), Spain (+2.6%), and Mexico (+2.6%) displayed positive paces of growth. Moreover, Japan emerged as the fastest growing importer/exporter in the world, with a CAGR of +15.3% from 2007-2016. By contrast, Belgium (-2.8%) illustrated a downward trend over the same period. Mexico (-1.6%), the Netherlands (-1.7%), the UK (-2.5%), France (-2.5%), and Germany (-3.3%) significantly weakened its position in terms of the global imports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Germany ($5.4B), the Netherlands ($5B) and France ($3.6B) appeared as the countries with the highest levels of imports in 2016, together accounting for 26% of global imports.Belgium, Japan, the UK, Spain, Ireland, Mexico and Malaysia lagged somewhat behind, together comprising a further 20%.

Malaysia (+22.5% per year) experienced the highest growth rate of orthopedic prosthetics imports, in terms of the main importing countries, over the last 9 year period, while the other global leaders experienced more modest paces of growth.

Orthopedic Prosthetics Import Prices By Country

The average orthopedic prosthetics import price stood at $183 per kg in 2016, coming down by -44.0% against the previous year. Overall, orthopedic prosthetics import price continues to indicate a drastic decline. The most prominent rate of growth was recorded in 2010, when import increased by 13% from the previous year level. In that year, average orthopedic prosthetics import price attained its maximum level of $362 per kg. From 2011 to 2016, growth of average orthopedic prosthetics import price stood at a somewhat lower level.

There were significant differences in the average import prices amongst major importing countries. In 2016, the country with the highest import prices was Japan ($628 per kg), while Malaysia ($2,361 per tonne) was among the lowest.

From 2007 to 2016, the most notable growth rate of orthopedic prosthetics import prices was attained by Malaysia (nan% per year), while the other global leaders experienced more modest paces of growth.

Do you want to know more about global orthopedic prosthetics market? Get the latest trends and insight from our report. It includes a wide range of statistics on

• orthopedic prosthetics market share
• orthopedic prosthetics prices
• orthopedic prosthetics industry
• orthopedic prosthetics sales
• orthopedic prosthetics import
• orthopedic prosthetics export
• orthopedic prosthetics market forecast
• orthopedic prosthetics price forecast
• key orthopedic prosthetics producers

All data provided in this article covers the following product: HS Code 9021 - Orthopaedic appliances- including crutches, surgical belts and trusses- splints and other fracture appliances- artificial parts of the body- hearing aids and other which are worn, carried or implanted in the body to compensate for a defect or disability.

Source: World: Artificial Joints For Orthopedic Purposes - Market Report. Analysis and Forecast to 2025