Orthopaedic Appliances Market

The article provides an in-depth analysis of the global orthopaedic appliances and splints market, highlighting key trends and forecasts. Driven by increasing demand worldwide, the market is expected to continue its upward consumption trend, with a projected CAGR of +5.4% in volume and +6.0% in value from 2022 to 2030. China emerges as the largest consumer and producer of orthopaedic appliances, while the United States and China lead exports. Key insights into consumption, production, imports, and exports are detailed, offering valuable information for stakeholders in the orthopaedic industry.

Market Forecast

Driven by increasing demand for orthopaedic appliances and splints worldwide, the market is expected to continue an upward consumption trend over the next eight years. Market performance is forecast to decelerate, expanding with an anticipated CAGR of +5.4% for the period from 2022 to 2030, which is projected to bring the market volume to 2.3B units by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +6.0% for the period from 2022 to 2030, which is projected to bring the market value to $61.9B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Orthopaedic Appliances And Splints

Global orthopaedic appliances consumption fell modestly to 1.5B units in 2022, flattening at 2021 figures. In general, the total consumption indicated a resilient expansion from 2012 to 2022: its volume increased at an average annual rate of +7.5% 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 +1.6% against 2020 indices. Over the period under review, global consumption hit record highs at 1.6B units in 2021, and then dropped slightly in the following year.

The global orthopaedic appliances market revenue reduced to $38.8B in 2022, which is down by -6.7% 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). Over the period under review, the total consumption indicated a temperate expansion from 2012 to 2022: its value increased at an average annual rate of +4.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the global market reached the maximum level at $41.6B in 2021, and then shrank in the following year.

Consumption By Country

China (341M units) constituted the country with the largest volume of orthopaedic appliances consumption, accounting for 22% of total volume. Moreover, orthopaedic appliances consumption in China exceeded the figures recorded by the second-largest consumer, India (158M units), twofold. Turkey (90M units) ranked third in terms of total consumption with a 5.8% share.

In China, orthopaedic appliances consumption increased at an average annual rate of +9.2% over the period from 2012-2022. In the other countries, the average annual rates were as follows: India (+8.6% per year) and Turkey (+22.3% per year).

In value terms, Japan ($12.4B) led the market, alone. The second position in the ranking was taken by India ($5.1B). It was followed by Bangladesh.

In Japan, the orthopaedic appliances market remained relatively stable over the period from 2012-2022. In the other countries, the average annual rates were as follows: India (+9.5% per year) and Bangladesh (+5.2% per year).

The countries with the highest levels of orthopaedic appliances per capita consumption in 2022 were Turkey (1,047 units per 1000 persons), Canada (942 units per 1000 persons) and Germany (763 units per 1000 persons).

From 2012 to 2022, the most notable rate of growth in terms of consumption, amongst the main consuming countries, was attained by Turkey (with a CAGR of +20.7%), while consumption for the other global leaders experienced more modest paces of growth.

Production

World Production of Orthopaedic Appliances And Splints

In 2022, after ten years of growth, there was significant decline in production of orthopaedic appliances and splints, when its volume decreased by -5.7% to 1.7B units. Overall, production, however, saw prominent growth. The growth pace was the most rapid in 2014 when the production volume increased by 22%. Global production peaked at 1.8B units in 2021, and then fell in the following year.

In value terms, orthopaedic appliances production amounted to $37.5B in 2022 estimated in export price. In general, the total production indicated a pronounced increase from 2012 to 2022: its value increased at an average annual rate of +4.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -3.2% against 2020 indices. The growth pace was the most rapid in 2015 when the production volume increased by 35%. Over the period under review, global production reached the peak level at $38.7B in 2020; however, from 2021 to 2022, production failed to regain momentum.

Production By Country

China (592M units) constituted the country with the largest volume of orthopaedic appliances production, accounting for 36% of total volume. Moreover, orthopaedic appliances production in China exceeded the figures recorded by the second-largest producer, the United States (185M units), threefold. India (157M units) ranked third in terms of total production with a 9.5% share.

In China, orthopaedic appliances production expanded at an average annual rate of +11.0% over the period from 2012-2022. In the other countries, the average annual rates were as follows: the United States (+22.4% per year) and India (+8.8% per year).

Imports

World Imports of Orthopaedic Appliances And Splints

In 2022, the amount of orthopaedic appliances and splints imported worldwide skyrocketed to 696M units, rising by 19% against the year before. Over the period under review, imports enjoyed a resilient expansion. The pace of growth was the most pronounced in 2021 when imports increased by 27%. Global imports peaked in 2022 and are likely to see gradual growth in years to come.

In value terms, orthopaedic appliances imports stood at $13.1B in 2022. In general, total imports indicated buoyant growth from 2012 to 2022: its value increased at an average annual rate of +6.1% 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 +20.5% against 2020 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 18% against the previous year. Global imports peaked in 2022 and are expected to retain growth in the immediate term.

Imports By Country

In 2022, the United States (162M units), distantly followed by Germany (65M units), Canada (38M units), France (37M units) and the UK (32M units) represented the largest importers of orthopaedic appliances and splints, together committing 48% of total imports. The following importers - Belgium (29M units), Vietnam (23M units), the Netherlands (22M units), Mexico (22M units), Spain (22M units), Italy (20M units), Australia (20M units) and Nigeria (15M units) - together made up 25% of total imports.

Imports into the United States increased at an average annual rate of +40.5% from 2012 to 2022. At the same time, Nigeria (+45.8%), Vietnam (+35.6%), Spain (+12.1%), the Netherlands (+11.3%), Italy (+10.5%), France (+9.8%), Canada (+8.3%), Belgium (+7.4%), Australia (+6.3%), the UK (+5.2%) and Germany (+4.8%) displayed positive paces of growth. Moreover, Nigeria emerged as the fastest-growing importer imported in the world, with a CAGR of +45.8% from 2012-2022. By contrast, Mexico (-7.3%) illustrated a downward trend over the same period. While the share of the United States (+23 p.p.), Vietnam (+2.9 p.p.) and Nigeria (+2 p.p.) increased significantly in terms of the global imports from 2012-2022, the share of the UK (-2 p.p.), Germany (-4.6 p.p.) and Mexico (-13 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United States ($3B) constitutes the largest market for imported orthopaedic appliances and splints worldwide, comprising 23% of global imports. The second position in the ranking was held by Germany ($1.3B), with a 10% share of global imports. It was followed by the Netherlands, with a 9.7% share.

From 2012 to 2022, the average annual growth rate of value in the United States amounted to +6.6%. The remaining importing countries recorded the following average annual rates of imports growth: Germany (+8.6% per year) and the Netherlands (+13.6% per year).

Import Prices By Country

In 2022, the average orthopaedic appliances import price amounted to $19 per unit, with a decrease of -14% against the previous year. In general, the import price showed a pronounced setback. The most prominent rate of growth was recorded in 2013 when the average import price increased by 11% against the previous year. Over the period under review, average import prices attained the peak figure at $28 per unit in 2019; however, from 2020 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 the Netherlands ($57 per unit), while Nigeria ($0.8 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mexico (+7.8%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Orthopaedic Appliances And Splints

In 2022, global exports of orthopaedic appliances and splints expanded modestly to 812M units, increasing by 3.3% against the previous year's figure. Overall, exports posted a resilient increase. The most prominent rate of growth was recorded in 2020 when exports increased by 41% against the previous year. Over the period under review, the global exports reached the maximum in 2022 and are expected to retain growth in years to come.

In value terms, orthopaedic appliances exports expanded modestly to $11.2B in 2022. The total export value 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 appeared the most rapid in 2021 with an increase of 16% against the previous year. The global exports peaked in 2022 and are likely to see steady growth in years to come.

Exports By Country

In 2022, the United States (297M units) and China (254M units) were the main exporters of orthopaedic appliances and splintsaround the world, together finishing at approx. 68% of total exports. It was distantly followed by Mexico (94M units), generating a 12% share of total exports. The following exporters - Germany (22M units), Taiwan (Chinese) (15M units) and the Netherlands (15M units) - together made up 6.5% of total exports.

From 2012 to 2022, the biggest increases were recorded for China (with a CAGR of +14.1%), while shipments for the other global leaders experienced more modest paces of growth.

In value terms, the United States ($2.7B) remains the largest orthopaedic appliances supplier worldwide, comprising 24% of global exports. The second position in the ranking was taken by the Netherlands ($1.2B), with an 11% share of global exports. It was followed by Germany, with an 8.9% share.

In the United States, orthopaedic appliances exports expanded at an average annual rate of +4.7% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: the Netherlands (+7.7% per year) and Germany (+3.8% per year).

Export Prices By Country

The average orthopaedic appliances export price stood at $14 per unit in 2022, approximately mirroring the previous year. Overall, the export price saw a abrupt shrinkage. The pace of growth was the most pronounced in 2013 an increase of 25% against the previous year. As a result, the export price attained the peak level of $37 per unit. From 2014 to 2022, the average export prices remained at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was the Netherlands ($78 per unit), while China ($3 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mexico (+12.4%), while the other global leaders experienced mixed trends in the export price figures.

Source: IndexBox Market Intelligence Platform