Bulgaria: Orthopedic Prosthetics Market 2023

Orthopedic Prosthetics Market Size in Bulgaria

In 2021, the Bulgarian orthopedic prosthetics market increased by 1,212% to $X, rising for the second consecutive year after two years of decline. Overall, consumption saw significant growth. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Orthopedic Prosthetics Production in Bulgaria

In value terms, orthopedic prosthetics production soared to $X in 2021 estimated in export price. Over the period under review, production, however, saw strong growth. The pace of growth was the most pronounced in 2020 when the production volume increased by 129%. Over the period under review, production hit record highs in 2021 and is expected to retain growth in the near future.

Orthopedic Prosthetics Exports

Exports from Bulgaria

In 2021, approx. X tons of artificial parts of the body (excl. artificial teeth and dental fittings and artificial joints) were exported from Bulgaria; rising by 954% against the year before. In general, exports continue to indicate a significant increase. The pace of growth was the most pronounced in 2016 when exports increased by 7,013%. The exports peaked in 2021 and are likely to continue growth in the immediate term.

In value terms, orthopedic prosthetics exports skyrocketed to $X in 2021. Over the period under review, exports recorded a significant increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Germany (X tons) was the main destination for orthopedic prosthetics exports from Bulgaria, accounting for a 95% share of total exports. It was followed by Austria (X tons), with a 1.9% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of volume to Germany totaled +189.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Austria (0.0% per year) and Greece (-20.8% per year).

In value terms, Germany ($X) emerged as the key foreign market for orthopedic prosthetics exports from Bulgaria, comprising 74% of total exports. The second position in the ranking was taken by Austria ($X), with a 13% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to Germany totaled +148.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Austria (0.0% per year) and Greece (+7.7% per year).

Export Prices by Country

The average orthopedic prosthetics export price stood at $X per kg in 2021, falling by -39.6% against the previous year. In general, the export price saw a deep reduction. The pace of growth was the most pronounced in 2013 when the average export price increased by 602%. As a result, the export price attained the peak level of $X per kg. From 2014 to 2021, the average export prices remained at a lower figure.

There were significant differences in the average prices for the major export markets. In 2021, the country with the highest price was Austria ($X per kg), while the average price for exports to Germany ($X per kg) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Greece (+35.9%).

Orthopedic Prosthetics Imports

Imports into Bulgaria

In 2021, purchases abroad of artificial parts of the body (excl. artificial teeth and dental fittings and artificial joints) increased by 1,303% to X tons, rising for the second consecutive year after two years of decline. Over the period under review, imports saw significant growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, orthopedic prosthetics imports skyrocketed to $X in 2021. Overall, imports enjoyed a buoyant expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Germany (X tons) constituted the largest orthopedic prosthetics supplier to Bulgaria, with a 82% share of total imports. Moreover, orthopedic prosthetics imports from Germany exceeded the figures recorded by the second-largest supplier, Belgium (X tons), more than tenfold. The third position in this ranking was held by the Netherlands (X tons), with a 3.5% share.

From 2012 to 2021, the average annual growth rate of volume from Germany totaled +61.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Belgium (+45.9% per year) and the Netherlands (+29.0% per year).

In value terms, Germany ($X) constituted the largest supplier of orthopedic prosthetics to Bulgaria, comprising 44% of total imports. The second position in the ranking was held by Belgium ($X), with a 19% share of total imports. It was followed by the Netherlands, with a 16% share.

From 2012 to 2021, the average annual growth rate of value from Germany stood at +32.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Belgium (+20.7% per year) and the Netherlands (+12.4% per year).

Import Prices by Country

In 2021, the average orthopedic prosthetics import price amounted to $X per ton, which is down by -83.9% against the previous year. In general, the import price showed a dramatic downturn. The most prominent rate of growth was recorded in 2016 an increase of 43%. Over the period under review, average import prices hit record highs at $X per ton in 2014; however, from 2015 to 2021, import prices failed to regain momentum.

Prices varied noticeably country of origin: the country with the highest price was Belgium ($X per ton), while the price for Germany ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Netherlands (-12.9%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Market Intelligence Platform

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