Eastern Asia: Orthopedic Artificial Joints Market 2024

Orthopedic Artificial Joints Market Size in Eastern Asia

The East Asian orthopedic artificial joints market expanded markedly to $X in 2022, picking up by X% against the previous year. The total consumption indicated noticeable growth from 2012 to 2022: its value 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, consumption decreased by X% against 2020 indices. As a result, consumption attained the peak level of $X. From 2021 to 2022, the growth of the market failed to regain momentum.

Orthopedic Artificial Joints Production in Eastern Asia

In value terms, orthopedic artificial joints production rose sharply to $X in 2022 estimated in export price. The total production indicated a buoyant increase from 2012 to 2022: its value 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, production decreased by X% against 2020 indices. The pace of growth was the most pronounced in 2020 when the production volume increased by X% against the previous year. As a result, production attained the peak level of $X. From 2021 to 2022, production growth failed to regain momentum.

Orthopedic Artificial Joints Exports

Exports in Eastern Asia

In 2022, after two years of decline, there was significant growth in overseas shipments of artificial joints for orthopedic purposes, when their volume increased by X% to X units. In general, exports recorded a slight expansion. The most prominent rate of growth was recorded in 2017 with an increase of X%. Over the period under review, the exports attained the maximum at X units in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

In value terms, orthopedic artificial joints exports soared to $X in 2022. Over the period under review, exports saw a buoyant increase. The pace of growth appeared the most rapid in 2017 with an increase of X% against the previous year. The level of export peaked in 2022 and is expected to retain growth in the immediate term.

Exports by Country

China (X units) and Taiwan (Chinese) (X units) were the key exporters of artificial joints for orthopedic purposes in 2022, amounting to approx. X% and X% of total exports, respectively. It was distantly followed by South Korea (X units), making up a X% share of total exports. The following exporters - Hong Kong SAR (X units) and Japan (X units) - each resulted at a X% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by South Korea (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, China ($X) remains the largest orthopedic artificial joints supplier in Eastern Asia, comprising X% of total exports. The second position in the ranking was taken by Taiwan (Chinese) ($X), with a X% share of total exports. It was followed by South Korea, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value in China amounted to X%. In the other countries, the average annual rates were as follows: Taiwan (Chinese) (X% per year) and South Korea (X% per year).

Export Prices by Country

The export price in Eastern Asia stood at $X per unit in 2022, rising by X% against the previous year. Over the period under review, the export price posted a prominent increase. The pace of growth appeared the most rapid in 2020 an increase of X% against the previous year. The level of export peaked in 2022 and is likely to continue growth in years to come.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was China ($X per unit), while Hong Kong SAR ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (X%), while the other leaders experienced a decline in the export price figures.

Orthopedic Artificial Joints Imports

Imports in Eastern Asia

In 2022, purchases abroad of artificial joints for orthopedic purposes was finally on the rise to reach X units after two years of decline. In general, imports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when imports increased by X%. The volume of import peaked at X units in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

In value terms, orthopedic artificial joints imports contracted to $X in 2022. The total import value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2018 when imports increased by X%. Over the period under review, imports reached the peak figure at $X in 2021, and then fell in the following year.

Imports by Country

Japan represented the major importer of artificial joints for orthopedic purposes in Eastern Asia, with the volume of imports reaching X units, which was near X% of total imports in 2022. It was distantly followed by South Korea (X units), China (X units) and Taiwan (Chinese) (X units), together generating a X% share of total imports. Hong Kong SAR (X units) followed a long way behind the leaders.

Japan was also the fastest-growing in terms of the artificial joints for orthopedic purposes imports, with a CAGR of X% from 2012 to 2022. At the same time, South Korea (X%) displayed positive paces of growth. Taiwan (Chinese) experienced a relatively flat trend pattern. By contrast, Hong Kong SAR (X%) and China (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Japan and South Korea increased by X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X), Japan ($X) and South Korea ($X) constituted the countries with the highest levels of imports in 2022, with a combined X% share of total imports. Taiwan (Chinese) and Hong Kong SAR lagged somewhat behind, together accounting for a further X%.

Hong Kong SAR, with a CAGR of X%, saw the highest growth rate of the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in Eastern Asia amounted to $X per unit, falling by X% against the previous year. In general, the import price, however, continues to indicate a pronounced increase. The most prominent rate of growth was recorded in 2020 when the import price increased by X% against the previous year. Over the period under review, import prices attained the maximum at $X per unit in 2021, and then dropped remarkably in the following year.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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