Southern Asia: Orthopedic Prosthetics Market 2024

Orthopedic Prosthetics Market Size in Southern Asia

For the eleventh year in a row, the South Asian orthopedic prosthetics market recorded growth in sales value, which increased by X% to $X in 2022. In general, consumption, however, enjoyed a strong expansion. The level of consumption peaked in 2022 and is likely to see gradual growth in the immediate term.

Orthopedic Prosthetics Production in Southern Asia

In value terms, orthopedic prosthetics production totaled $X in 2022 estimated in export price. Overall, production, however, enjoyed a buoyant increase. The most prominent rate of growth was recorded in 2018 when the production volume increased by X% against the previous year. The level of production peaked at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

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Orthopedic Prosthetics Exports

Exports in Southern Asia

For the third consecutive year, Southern Asia recorded growth in overseas shipments of artificial parts of the body (excl. artificial teeth and dental fittings and artificial joints), which increased by X% to X units in 2022. Over the period under review, exports saw a significant increase. The most prominent rate of growth was recorded in 2013 when exports increased by X% against the previous year. The volume of export peaked in 2022 and is expected to retain growth in the immediate term.

In value terms, orthopedic prosthetics exports skyrocketed to $X in 2022. Overall, exports posted a significant increase. The most prominent rate of growth was recorded in 2013 when exports increased by X% against the previous year. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in the near future.

Exports by Country

The shipments of the one major exporters of artificial parts of the body (excl. artificial teeth and dental fittings and artificial joints), namely India, represented more than two-thirds of total export.

India was also the fastest-growing in terms of the artificial parts of the body (excl. artificial teeth and dental fittings and artificial joints) exports, with a CAGR of X% from 2012 to 2022. India (X p.p.) significantly strengthened its position in terms of the total exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, India ($X) also remains the largest orthopedic prosthetics supplier in Southern Asia.

In India, orthopedic prosthetics exports increased at an average annual rate of X% over the period from 2012-2022.

Export Prices by Country

The export price in Southern Asia stood at $X per unit in 2022, declining by X% against the previous year. Export price indicated a temperate 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, orthopedic prosthetics export price decreased by X% against 2019 indices. The pace of growth appeared the most rapid in 2019 when the export price increased by X% against the previous year. As a result, the export price attained the peak level of $X per unit. From 2020 to 2022, the export prices remained at a lower figure.

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

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

Orthopedic Prosthetics Imports

Imports in Southern Asia

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 consecutive year after two years of decline. In general, imports showed a resilient expansion. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. The volume of import peaked in 2022 and is expected to retain growth in the immediate term.

In value terms, orthopedic prosthetics imports skyrocketed to $X in 2022. Total imports indicated a pronounced 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, imports increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of X%. The level of import peaked in 2022 and is expected to retain growth in the near future.

Imports by Country

India was the largest importing country with an import of about X units, which reached X% of total imports. Bangladesh (X units) ranks second in terms of the total imports with a X% share, followed by Pakistan (X%). Sri Lanka (X units) followed a long way behind the leaders.

Imports into India increased at an average annual rate of X% from 2012 to 2022. At the same time, Bangladesh (X%) and Pakistan (X%) displayed positive paces of growth. Moreover, Bangladesh emerged as the fastest-growing importer imported in Southern Asia, with a CAGR of X% from 2012-2022. By contrast, Sri Lanka (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Bangladesh increased by X percentage points.

In value terms, India ($X) constitutes the largest market for imported artificial parts of the body (excl. artificial teeth and dental fittings and artificial joints) in Southern Asia, comprising X% of total imports. The second position in the ranking was held by Pakistan ($X), with an X% share of total imports. It was followed by Bangladesh, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value in India amounted to X%. The remaining importing countries recorded the following average annual rates of imports growth: Pakistan (X% per year) and Bangladesh (X% per year).

Import Prices by Country

The import price in Southern Asia stood at $X per unit in 2022, picking up by X% against the previous year. In general, the import price, however, saw a pronounced contraction. Over the period under review, import prices hit record highs at $X per unit in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

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 India ($X per unit), while Bangladesh ($X per unit) was amongst the lowest.

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

Source: IndexBox Platform

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