Orthopedic Prosthetics Market

The global market for orthopedic prosthetics, excluding teeth and dental fittings, is expected to experience steady growth in both volume and value from 2022 to 2030. Consumption trends show an increase in demand worldwide, with significant fluctuations over the analyzed period. Production, imports, and exports also reflect growth patterns, with key countries like China, the United States, and the Netherlands playing major roles in the market. The average export price has seen fluctuations but is expected to continue growing in the coming years.

Market Forecast

Driven by increasing demand for artificial parts of the body (excl. artificial teeth and dental fittings and artificial joints) worldwide, the market is expected to continue an upward consumption trend over the next eight-year period. Market performance is forecast to decelerate, expanding with an anticipated CAGR of +3.5% for the period from 2022 to 2030, which is projected to bring the market volume to 4.4B units by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +4.7% for the period from 2022 to 2030, which is projected to bring the market value to $36B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Artificial Parts Of The Body (Excl. Artificial Teeth And Dental Fittings And Artificial Joints)

In 2022, approx. 3.3B units of artificial parts of the body (excl. artificial teeth and dental fittings and artificial joints) were consumed worldwide; surging by 2.7% compared with the previous year. Overall, the total consumption indicated a notable increase from 2012 to 2022: its volume increased at an average annual rate of +4.5% 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 -10.5% against 2019 indices. As a result, consumption attained the peak volume of 3.7B units. From 2020 to 2022, the growth of the global consumption failed to regain momentum.

The global orthopedic prosthetics market value amounted to $25B in 2022, growing by 9.7% 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). Over the period under review, the total consumption indicated buoyant growth from 2012 to 2022: its value increased at an average annual rate of +6.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +86.0% against 2012 indices. Global consumption peaked in 2022 and is likely to see steady growth in years to come.

Consumption By Country

China (767M units) constituted the country with the largest volume of orthopedic prosthetics consumption, accounting for 23% of total volume. Moreover, orthopedic prosthetics consumption in China exceeded the figures recorded by the second-largest consumer, India (299M units), threefold. Turkey (279M units) ranked third in terms of total consumption with an 8.4% share.

In China, orthopedic prosthetics consumption increased at an average annual rate of +6.1% over the period from 2012-2022. The remaining consuming countries recorded the following average annual rates of consumption growth: India (+7.2% per year) and Turkey (+21.1% per year).

In value terms, the United States ($5.9B), India ($3.3B) and Germany ($1.6B) appeared to be the countries with the highest levels of market value in 2022, with a combined 43% share of the global market. China, Singapore, Mexico, Japan, Turkey, Ethiopia, Nigeria, Indonesia, France and South Korea lagged somewhat behind, together comprising a further 33%.

Among the main consuming countries, Singapore, with a CAGR of +46.5%, recorded the highest growth rate of market size over the period under review, while market for the other global leaders experienced more modest paces of growth.

In 2022, the highest levels of orthopedic prosthetics per capita consumption was registered in Singapore (14 units per person), followed by Turkey (3.3 units per person), Germany (3.1 units per person) and Japan (1.2 units per person), while the world average per capita consumption of orthopedic prosthetics was estimated at 0.4 units per person.

In Singapore, orthopedic prosthetics per capita consumption expanded at an average annual rate of +40.4% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Turkey (+19.5% per year) and Germany (+1.8% per year).

Production

World Production of Artificial Parts Of The Body (Excl. Artificial Teeth And Dental Fittings And Artificial Joints)

In 2022, production of artificial parts of the body (excl. artificial teeth and dental fittings and artificial joints) increased by 4.1% to 3.1B units for the first time since 2019, thus ending a two-year declining trend. Over the period under review, the total production indicated a measured increase from 2012 to 2022: its volume increased at an average annual rate of +4.0% 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 -2.1% against 2019 indices. The most prominent rate of growth was recorded in 2017 with an increase of 17% against the previous year. Global production peaked at 3.2B units in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

In value terms, orthopedic prosthetics production rose to $23.6B in 2022 estimated in export price. Overall, the total production indicated a perceptible increase from 2012 to 2022: its value increased at an average annual rate of +4.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +59.1% against 2016 indices. The pace of growth was the most pronounced in 2020 when the production volume increased by 20% against the previous year. Over the period under review, global production attained the peak level in 2022 and is likely to continue growth in years to come.

Production By Country

China (752M units) constituted the country with the largest volume of orthopedic prosthetics production, comprising approx. 24% of total volume. Moreover, orthopedic prosthetics production in China exceeded the figures recorded by the second-largest producer, Germany (296M units), threefold. India (289M units) ranked third in terms of total production with a 9.3% share.

In China, orthopedic prosthetics production increased at an average annual rate of +6.1% over the period from 2012-2022. The remaining producing countries recorded the following average annual rates of production growth: Germany (+0.2% per year) and India (+7.6% per year).

Imports

World Imports of Artificial Parts Of The Body (Excl. Artificial Teeth And Dental Fittings And Artificial Joints)

In 2022, global imports of artificial parts of the body (excl. artificial teeth and dental fittings and artificial joints) contracted slightly to 1.6B units, with a decrease of -3.7% against the year before. Over the period under review, total imports indicated a measured expansion from 2012 to 2022: its volume increased at an average annual rate of +2.2% 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 +18.7% against 2020 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 23%. Global imports peaked at 2.1B units in 2019; however, from 2020 to 2022, imports remained at a lower figure.

In value terms, orthopedic prosthetics imports reached $16.3B in 2022. The total import value increased at an average annual rate of +3.7% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2021 with an increase of 20%. Over the period under review, global imports attained the maximum in 2022 and are expected to retain growth in the near future.

Imports By Country

In 2022, the Netherlands (242M units), followed by Belgium (139M units), the United States (91M units), France (85M units) and Germany (73M units) represented the largest importers of artificial parts of the body (excl. artificial teeth and dental fittings and artificial joints), together generating 41% of total imports. The UK (69M units), Ireland (58M units), Italy (46M units), China (42M units), Spain (42M units), Turkey (39M units), Canada (35M units) and Japan (34M units) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Ireland (with a CAGR of +20.3%), while imports for the other global leaders experienced more modest paces of growth.

In value terms, the largest orthopedic prosthetics importing markets worldwide were the United States ($4.3B), the Netherlands ($2.5B) and Germany ($890M), with a combined 47% share of global imports. China, Japan, Belgium, France, the UK, Italy, Spain, Canada, Turkey and Ireland lagged somewhat behind, together accounting for a further 30%.

Ireland, with a CAGR of +19.9%, saw the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices By Country

In 2022, the average orthopedic prosthetics import price amounted to $11 per unit, growing by 11% against the previous year. Over the last decade, it increased at an average annual rate of +1.4%. The pace of growth appeared the most rapid in 2020 an increase of 42%. Global import price peaked in 2022 and is expected to retain growth in years to come.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was the United States ($47 per unit), while Ireland ($2.9 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+16.7%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Artificial Parts Of The Body (Excl. Artificial Teeth And Dental Fittings And Artificial Joints)

In 2022, approx. 1.3B units of artificial parts of the body (excl. artificial teeth and dental fittings and artificial joints) were exported worldwide; reducing by -1.8% compared with the previous year's figure. The total export volume increased at an average annual rate of +1.1% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2017 when exports increased by 24%. Over the period under review, the global exports hit record highs at 1.5B units in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

In value terms, orthopedic prosthetics exports rose modestly to $13.7B in 2022. Overall, total exports indicated a strong expansion from 2012 to 2022: its value increased at an average annual rate of +5.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +50.1% against 2014 indices. The growth pace was the most rapid in 2021 when exports increased by 21% against the previous year. The global exports peaked in 2022 and are expected to retain growth in the immediate term.

Exports By Country

The Netherlands represented the key exporter of artificial parts of the body (excl. artificial teeth and dental fittings and artificial joints) in the world, with the volume of exports recording 351M units, which was approx. 26% of total exports in 2022. Costa Rica (137M units) ranks second in terms of the total exports with a 10% share, followed by the United States (9.7%), Belgium (9.6%) and Germany (8.7%). The following exporters - France (58M units), Ireland (53M units), the UK (50M units), Austria (45M units), Singapore (37M units), China (27M units) and Mexico (20M units) - together made up 22% of total exports.

From 2012 to 2022, average annual rates of growth with regard to orthopedic prosthetics exports from the Netherlands stood at +9.7%. At the same time, China (+13.4%), Costa Rica (+9.3%), Mexico (+7.2%), Ireland (+6.8%), the UK (+6.3%), Singapore (+5.4%) and Belgium (+5.3%) displayed positive paces of growth. Moreover, China emerged as the fastest-growing exporter exported in the world, with a CAGR of +13.4% from 2012-2022. Austria experienced a relatively flat trend pattern. By contrast, Germany (-2.5%), France (-4.1%) and the United States (-11.3%) illustrated a downward trend over the same period. The Netherlands (+15 p.p.), Costa Rica (+5.6 p.p.), Belgium (+3.2 p.p.) and Ireland (+1.7 p.p.) significantly strengthened its position in terms of the global exports, while France, Germany and the United States saw its share reduced by -3.1%, -3.8% and -26.2% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the Netherlands ($3.4B), the United States ($3.2B) and Belgium ($1.2B) were the countries with the highest levels of exports in 2022, with a combined 57% share of global exports. Costa Rica, Singapore, Germany, Ireland, the UK, France, Mexico, Austria and China lagged somewhat behind, together accounting for a further 32%.

Among the main exporting countries, Singapore, with a CAGR of +19.2%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Export Prices By Country

The average orthopedic prosthetics export price stood at $10 per unit in 2022, rising by 5.2% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +4.2%. The most prominent rate of growth was recorded in 2020 when the average export price increased by 22%. Over the period under review, the average export prices hit record highs in 2022 and is likely to see steady growth in the near future.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Singapore ($27 per unit), while China ($1.6 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+14.3%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform