Hong Kong SAR, China: Orthopedic Prosthetics Market 2024

Orthopedic Prosthetics Market Size in Hong Kong SAR, China

For the third consecutive year, the Hong Kong orthopedic prosthetics market recorded growth in sales value, which increased by X% to $X in 2022. Overall, consumption recorded a buoyant increase. Over the period under review, the market attained the maximum level in 2022 and is expected to retain growth in years to come.

Orthopedic Prosthetics Production in Hong Kong SAR, China

In value terms, orthopedic prosthetics production skyrocketed to $X in 2022 estimated in export price. In general, production, however, continues to indicate a noticeable setback. The growth pace was the most rapid in 2020 with an increase of X%. Orthopedic prosthetics production peaked at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

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Orthopedic Prosthetics Exports

Exports from Hong Kong SAR, China

In 2022, shipments abroad of artificial parts of the body (excl. artificial teeth and dental fittings and artificial joints) increased by X% to X units, rising for the third year in a row after three years of decline. The total export volume 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. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, orthopedic prosthetics exports surged to $X in 2022. Overall, exports recorded a strong increase. The most prominent rate of growth was recorded in 2020 with an increase of X%. Over the period under review, the exports reached the maximum in 2022 and are likely to see steady growth in years to come.

Exports by Country

China (X units) was the main destination for orthopedic prosthetics exports from Hong Kong SAR, with a X% share of total exports. Moreover, orthopedic prosthetics exports to China exceeded the volume sent to the second major destination, India (X units), threefold. The third position in this ranking was taken by South Korea (X units), with a X% share.

From 2012 to 2022, the average annual growth rate of volume to China stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: India (X% per year) and South Korea (X% per year).

In value terms, China ($X) remains the key foreign market for artificial parts of the body (excl. artificial teeth and dental fittings and artificial joints) exports from Hong Kong SAR, comprising X% of total exports. The second position in the ranking was taken by South Korea ($X), with a X% share of total exports. It was followed by India, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to China totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: South Korea (X% per year) and India (X% per year).

Export Prices by Country

In 2022, the average orthopedic prosthetics export price amounted to $X per unit, standing approx. at the previous year. Over the period under review, the export price continues to indicate a buoyant expansion. The pace of growth was the most pronounced in 2017 when the average export price increased by X%. Over the period under review, the average export prices reached the peak figure in 2022 and is expected to retain growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was South Korea ($X per unit), while the average price for exports to India ($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 Australia (X%), while the prices for the other major destinations experienced more modest paces of growth.

Orthopedic Prosthetics Imports

Imports into Hong Kong SAR, China

In 2022, supplies from abroad of artificial parts of the body (excl. artificial teeth and dental fittings and artificial joints) increased by X% to X units, rising for the second year in a row after two years of decline. Overall, total imports indicated a buoyant expansion from 2012 to 2022: its volume 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, imports increased by X% against 2020 indices. The pace of growth appeared the most rapid in 2017 when imports increased by X% against the previous year. Over the period under review, imports reached the peak figure in 2022 and are expected to retain growth in the near future.

In value terms, orthopedic prosthetics imports soared to $X in 2022. Over the period under review, imports recorded a strong increase. The pace of growth appeared the most rapid in 2021 with an increase of X%. Imports peaked in 2022 and are expected to retain growth in years to come.

Imports by Country

In 2022, the United States (X units) constituted the largest orthopedic prosthetics supplier to Hong Kong SAR, accounting for a X% share of total imports. Moreover, orthopedic prosthetics imports from the United States exceeded the figures recorded by the second-largest supplier, the Netherlands (X units), fivefold. Switzerland (X units) ranked third in terms of total imports with a X% share.

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

In value terms, the largest orthopedic prosthetics suppliers to Hong Kong SAR were the United States ($X), Switzerland ($X) and the Netherlands ($X), together comprising X% of total imports.

In terms of the main suppliers, Switzerland, 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

The average orthopedic prosthetics import price stood at $X per unit in 2022, with an increase of X% against the previous year. In general, import price indicated strong growth 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, orthopedic prosthetics import price increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2021 an increase of X% against the previous year. The import price peaked at $X per unit in 2018; however, from 2019 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Switzerland ($X per unit), while the price for India ($X per unit) was amongst the lowest.

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

Source: IndexBox Platform

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