Philippines: Orthopedic Artificial Joints Market 2024

Orthopedic Artificial Joints Market Size in the Philippines

The Philippine orthopedic artificial joints market expanded modestly to $X in 2022, rising by X% against the previous year. Overall, consumption, however, saw a relatively flat trend pattern. Orthopedic artificial joints consumption peaked at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Orthopedic Artificial Joints Production in the Philippines

In value terms, orthopedic artificial joints production expanded rapidly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2016 with an increase of X%. Over the period under review, production attained the maximum level at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Orthopedic Artificial Joints Exports

Exports from the Philippines

In 2022, approx. X units of artificial joints for orthopedic purposes were exported from the Philippines; growing by X% compared with 2021 figures. Over the period under review, exports continue to indicate a significant expansion. The most prominent rate of growth was recorded in 2016 when exports increased by X% against the previous year. The exports peaked in 2022 and are expected to retain growth in the near future.

In value terms, orthopedic artificial joints exports surged to $X in 2022. In general, exports showed significant growth. The pace of growth was the most pronounced in 2016 with an increase of X% against the previous year. Over the period under review, the exports attained the peak figure in 2022 and are expected to retain growth in the near future.

Exports by Country

The United States (X units) was the main destination for orthopedic artificial joints exports from the Philippines, with a approx. X% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United States amounted to X%.

In value terms, the United States ($X) also remains the key foreign market for artificial joints for orthopedic purposes exports from the Philippines.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States stood at X%.

Export Prices by Country

In 2022, the average orthopedic artificial joints export price amounted to $X per unit, increasing by X% against the previous year. In general, the export price showed resilient growth. The growth pace was the most rapid in 2021 an increase of X% against the previous year. The export price peaked in 2022 and is expected to retain growth in the immediate term.

As there is only one major export destination, the average price level is determined by prices for the United States.

From 2012 to 2022, the rate of growth in terms of prices for the United States amounted to X% per year.

Orthopedic Artificial Joints Imports

Imports into the Philippines

In 2022, the amount of artificial joints for orthopedic purposes imported into the Philippines surged to X units, growing by X% compared with the previous year's figure. In general, imports continue to indicate significant growth. The pace of growth was the most pronounced in 2017 with an increase of X% against the previous year. As a result, imports reached the peak of X units. From 2018 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, orthopedic artificial joints imports surged to $X in 2022. Overall, imports continue to indicate significant growth. The most prominent rate of growth was recorded in 2017 with an increase of X%. As a result, imports reached the peak of $X. From 2018 to 2022, the growth of imports failed to regain momentum.

Imports by Country

In 2022, the United States (X units) constituted the largest orthopedic artificial joints supplier to the Philippines, accounting for a X% share of total imports. Moreover, orthopedic artificial joints imports from the United States exceeded the figures recorded by the second-largest supplier, China (X units), ninefold. Singapore (X units) ranked third in terms of total imports with a X% share.

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

In value terms, the United States ($X) constituted the largest supplier of artificial joints for orthopedic purposes to the Philippines, comprising X% of total imports. The second position in the ranking was held by China ($X), with a X% share of total imports. It was followed by Singapore, with a X% share.

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

Import Prices by Country

The average orthopedic artificial joints import price stood at $X per unit in 2022, dropping by X% against the previous year. In general, the import price, however, saw buoyant growth. The most prominent rate of growth was recorded in 2018 an increase of X%. The import price peaked at $X per unit in 2021, and then plummeted in the following year.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were Germany ($X per unit) and the United States ($X per unit), while the price for Taiwan (Chinese) ($X per unit) and Switzerland ($X per unit) were amongst the lowest.

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

Source: IndexBox Platform

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