Colombia: Orthopaedic Appliances Market 2024

Orthopaedic Appliances Market Size in Colombia

The Colombian orthopaedic appliances market soared to $X in 2022, picking up by X% 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). Overall, consumption, however, continues to indicate a perceptible setback. Over the period under review, the market attained the maximum level at $X in 2013; however, from 2014 to 2022, consumption remained at a lower figure.

Orthopaedic Appliances Exports

Exports from Colombia

Orthopaedic appliances exports from Colombia contracted markedly to X units in 2022, with a decrease of X% on the year before. Over the period under review, exports continue to indicate a deep reduction. The most prominent rate of growth was recorded in 2018 with an increase of X%. The exports peaked at X units in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, orthopaedic appliances exports dropped significantly to $X in 2022. In general, exports saw a abrupt contraction. The growth pace was the most rapid in 2016 with an increase of X%. Over the period under review, the exports reached the peak figure at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

The Dominican Republic (X units), Venezuela (X units) and Ecuador (X units) were the main destinations of orthopaedic appliances exports from Colombia, together accounting for X% of total exports. El Salvador, Panama, Mexico, Guatemala, the United States, Honduras, Costa Rica and Switzerland lagged somewhat behind, together comprising a further X%.

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

In value terms, Mexico ($X), the Dominican Republic ($X) and Ecuador ($X) were the largest markets for orthopaedic appliances exported from Colombia worldwide, with a combined X% share of total exports. Switzerland, El Salvador, the United States, Venezuela, Guatemala, Costa Rica, Panama and Honduras lagged somewhat behind, together comprising a further X%.

El Salvador, with a CAGR of X%, saw the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average orthopaedic appliances export price stood at $X per unit in 2022, increasing by X% against the previous year. In general, export price indicated a pronounced increase from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, orthopaedic appliances export price decreased by X% against 2020 indices. The pace of growth was the most pronounced in 2020 when the average export price increased by X% against the previous year. As a result, the export price attained the peak level of $X per unit. From 2021 to 2022, the average export prices remained at a lower figure.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Mexico ($X per unit), while the average price for exports to Venezuela ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Mexico (X%), while the prices for the other major destinations experienced more modest paces of growth.

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Orthopaedic Appliances Imports

Imports into Colombia

Orthopaedic appliances imports into Colombia expanded remarkably to X units in 2022, surging by X% compared with the previous year. Over the period under review, imports, however, continue to indicate a abrupt shrinkage. The pace of growth appeared the most rapid in 2021 with an increase of X%. Imports peaked at X units in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, orthopaedic appliances imports surged to $X in 2022. The total import value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 when imports increased by X% against the previous year. Imports peaked in 2022 and are likely to see steady growth in the near future.

Imports by Country

In 2022, China (X units) constituted the largest supplier of orthopaedic appliances to Colombia, accounting for a X% share of total imports. Moreover, orthopaedic appliances imports from China exceeded the figures recorded by the second-largest supplier, the United States (X units), tenfold. The third position in this ranking was taken by Taiwan (Chinese) (X units), with a X% share.

From 2012 to 2022, the average annual growth rate of volume from China stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (X% per year) and Taiwan (Chinese) (X% per year).

In value terms, the United States ($X), China ($X) and Switzerland ($X) constituted the largest orthopaedic appliances suppliers to Colombia, with a combined X% share of total imports. Mexico, Germany, Italy, India, Taiwan (Chinese) and Brazil lagged somewhat behind, together accounting for a further X%.

In terms of the main suppliers, Mexico, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average orthopaedic appliances import price amounted to $X per unit, growing by X% against the previous year. In general, the import price enjoyed a resilient increase. The most prominent rate of growth was recorded in 2016 when the average import price increased by X% against the previous year. The import price peaked at $X per unit in 2018; however, from 2019 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Switzerland ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mexico (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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