Top Artificial Joints Exporters by Country

Knee joint xrays

Knee joint xrays

Exported artificial joints by country totaled US$10.6 billion in 2018. That dollar amount reflects an average 7.6% increase for all artificial joints sellers over the five-year period starting in 2014. Year over year, the value of globally exported artificial joints accelerated by 6.8% from 2017 to 2018.

As the massive cohort of baby boomers continues to age, the number of surgeries for artificial knee, hip, ankle and other joint replacement continues to accelerate at a steady pace.

Among continents, Europe sold the highest dollar worth of exported artificial joints during 2018 with shipments valued at $5.9 billion or more than half (56.1%) of overall exports for these highly specialized limb-related replacements. In second place were North American exporters at 25.4% while 10.9% of worldwide artificial joints shipments originated from Asia. Smaller percentages came from Latin America (6.6%) excluding Mexico but including the Caribbean, Oceania (0.9%) led by Australia and New Zealand, then Africa (0.1%).

Artificial joints for orthopedic purposes are classified under 902131, a 6-digit Harmonized Tariff System code prefix.

Top Artificial Joints Exporters by Country

Countries

Below are the 15 countries that exported the highest dollar value worth of artificial joints during 2018.

  1. Netherlands: US$2.9 billion (27.3% of total exported artificial joints)
  2. United States: $2.4 billion (22.7%)
  3. Belgium: $857.4 million (8.1%)
  4. Singapore: $765.6 million (7.3%)
  5. Costa Rica: $606.6 million (5.7%)
  6. Germany: $585.7 million (5.5%)
  7. France: $438.3 million (4.2%)
  8. United Kingdom: $272.2 million (2.6%)
  9. Mexico: $244.9 million (2.3%)
  10. Switzerland: $242.5 million (2.3%)
  11. Hong Kong: $194.3 million (1.8%)
  12. Austria: $167 million (1.6%)
  13. Ireland: $127.2 million (1.2%)
  14. Italy: $101.3 million (1%)
  15. Australia: $92 million (0.9%)

By value, the listed 15 countries shipped 94.5% of all artificial joints exports in 2018.

Among the top exporters, the fastest-growing exporters of artificial joints since 2014 were: Costa Rica (up 133.2%), Singapore (up 120.7%), Hong Kong (up 89.2%) and Mexico (up 85.2%).

Those countries that posted declines in their exported artificial joints sales were led by: Ireland (down -49.4%), Belgium (down -29%), United States (down -16.7%), Italy (down -10.9%) and Austria (down -3.9%).

Advantages

The following countries posted the highest positive net exports for artificial joints during 2018. Investopedia defines net exports as the value of a country’s total exports minus the value of its total imports. Thus, the statistics below present the surplus between the value of each country’s exported artificial joints and its import purchases for that same commodity.

  1. Netherlands: US$1.2 billion (net export surplus up 299.7% since 2014)
  2. Singapore: $711.8 million (up 113.7%)
  3. Costa Rica: $572.9 million (up 138.1%)
  4. Belgium: $172.6 million (up 14.7%)
  5. Mexico: $144.1 million (up 121.1%)
  6. Austria: $104.1 million (up 14.9%)
  7. Hong Kong: $89.9 million (up 69.1%)
  8. Switzerland: $46.3 million (reversing a -$96.4 million deficit)
  9. United Kingdom: $21.7 million (reversing a -$27.9 million deficit)
  10. Iceland: $18.6 million (down -16.1%)
  11. Ireland: $17.4 million (down -91.4%)
  12. Barbados: $13.7 million (up 49.1%)
  13. Malaysia: $12.8 million (reversing a -$36.5 million deficit)
  14. Lithuania: $3.8 million (reversing a -$1.9 million deficit)
  15. Latvia: $2.4 million (reversing a -$4.5 million deficit)

Overtaking Ireland in 2018, Netherlands earned the highest surplus in the international trade of artificial joints. In turn, this positive cashflow confirms strong Dutch competitive advantages for this specific product category.

Opportunities

The following countries posted the highest negative net exports for artificial joints during 2018. Investopedia defines net exports as the value of a country’s total exports minus the value of its total imports. Thus, the statistics below present the deficit between the value of each country’s imported artificial joints purchases and its exports for that same commodity.

  1. United States: US-$1.3 billion (net export deficit up 1,215% since 2014)
  2. Japan: -$879.4 million (up 39.1%)
  3. China: -$623.2 million (up 59.7%)
  4. Germany: -$283.9 million (up 50.6%)
  5. Canada: -$229.8 million (up 12.7%)
  6. Italy: -$214.1 million (down -15.9%)
  7. Spain: -$208.8 million (up 18.7%)
  8. Australia: -$202.7 million (down -19.7%)
  9. Russia: -$143.8 million (down -5.7%)
  10. South Korea: -$133.2 million (up 45.4%)
  11. Taiwan: -$130.2 million (up 36.9%)
  12. Turkey: -$100.7 million (down -43.3%)
  13. India: -$93.2 million (up 3%)
  14. Brazil: -$77.2 million (up 16.4%)
  15. Poland: -$65.9 million (down -7.2%)

The United States incurred the highest deficit in the international trade of artificial joints. In turn, this negative cashflow highlights America’s strong competitive disadvantage for this specific product category but also signals opportunities for artificial joints-supplying countries that help satisfy the powerful consumer demand.

Companies

Artificial Joints Exporting Companies

Below are artificial joints-manufacturing conglomerates headquartered in the United States. They are presented in order of greatest market capitalization, according to Morningstar’s analysis of industry peers.

  • Stryker Corp
  • Abbott Laboratories
  • Boston Scientific
  • Intuitive Surgical Inc
  • Zimmer Biomet Holdings Inc
  • Edwards Lifesciences Corp
  • St Jude Medical Inc
  • Smith & Nephew PLC
  • Varian Medical Systems Inc
  • Sonova Holding AG

According to global trading platform Alibaba, the following are examples of exporters that supply artificial joints. The home-country location for each business is shown within parentheses:

  • Shijiazhuang City Huirong Stainless Steel Products (China)
  • Daiya Industry Co Ltd (Japan)
  • Standard Steel (India)
  • Medimsa Medical Production Industry (Turkey)
  • DOO Ortopedija Nis (Serbia)
  • Biomecanica Orthopedic Industry Ltd (Brazil)


 

See also Top Industrial Robots Exporters, Electronic Circuit Component Exports by Country and Heart Pacemaker Export Sales by Country.

Research Sources:
Alibaba, Supplier showroom for artificial joints. Accessed on September 12, 2018

Forbes Global 2000 rankings, The World’s Biggest Public Companies. Accessed on June 2, 2019

Investopedia, Net Exports Definition. Accessed on June 2, 2019

Morningstar, Industry Peers for Stryker Corp. Accessed on September 12, 2018

The World Factbook, Field Listing: Exports – Commodities, Central Intelligence Agency. Accessed on June 2, 2019

Trade Map, International Trade Centre. Accessed on June 2, 2019