Top Artificial Joints Exporters by Country

Knee joint xrays

Knee joint xrays

Exported artificial joints by country totaled US$10.3 billion in 2017, up by 31.5% for all artificial joints sellers over the five-year period starting in 2013. Year over year, the value of globally exported artificial joints accelerated by 11.5% from 2016 to 2017.

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, European countries accounted for the highest dollar worth of exported artificial joints during 2016 with shipments valued at $81 billion or more than three-quarters (78.1%) of overall exports for these highly specialized products. In second place were North American exporters at 17.7% while 3.9% of worldwide artificial joints shipments originated from Asia.

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 2017.

  1. United States: US$1.8 billion (17.6% of total artificial joints exports)
  2. Belgium: $1.5 billion (14.8%)
  3. Ireland: $1.4 billion (13.5%)
  4. Netherlands: $1.4 billion (13.1%)
  5. Germany: $1.2 billion (11.6%)
  6. Switzerland: $1 billion (10.2%)
  7. France: $662.3 million (6.4%)
  8. United Kingdom: $380.6 million (3.7%)
  9. Italy: $216.8 million (2.1%)
  10. Singapore: $160 million (1.6%)
  11. China: $148.2 million (1.4%)
  12. Sweden: $74.1 million (0.7%)
  13. Iceland: $52.5 million (0.5%)
  14. Taiwan: $33.9 million (0.3%)
  15. Austria: $31.8 million (0.3%)

The listed 15 countries shipped 97.9% of all artificial joints exports in 2017 by value.

Among the top exporters, the fastest-growing artificial joints exporters since 2013 were: Singapore (up 5,506%), Ireland (up 192.7%), Sweden (up 141.1%) and Netherlands (up 140.4%).

Only one exporter posted a decline in its international sales of artificial joints, namely Belgium via its -7.6% setback.

Advantages

The following countries posted the highest positive net exports for artificial joints during 2017. 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. Ireland: US$1.3 billion (net export surplus up 224.8% since 2013)
  2. Belgium: $889.4 million (down -12.7%)
  3. Netherlands: $592.4 million (up 191%)
  4. Switzerland: $570.5 million (up 12.7%)
  5. Germany: $379.5 million (up 8.5%)
  6. Singapore: $50.8 million (reversing a -$743,000 deficit)
  7. Iceland: $49.8 million (up 66.2%)
  8. Lithuania: $12.4 million (reversing a -$5.9 million deficit)
  9. France: $10.8 million (reversing a -$45.2 million deficit)
  10. Taiwan: $3.4 million (reversing a -$7.2 million deficit)
  11. Costa Rica: $454,000 (reversing a -$550,000 deficit)
  12. Tokelau: $149,000 (no 2013 data)
  13. Saint Helena: $11,000 (no 2013 data)
  14. Swaziland: $1,000 (no 2013 data)

Ireland has the highest surplus in the international trade of artificial joints. In turn, this positive cashflow confirms Ireland’s strong competitive advantage for this specific product category.

Opportunities

The following countries posted the highest negative net exports for artificial joints during 2017. 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$541.1 million (reversing a $185.2 million surplus in 2013)
  2. Japan: -$366.9 million (down -22%)
  3. Australia: -$329.2 million (up 20.2%)
  4. China: -$255.6 million (up 53.3%)
  5. Spain: -$170.6 million (up 31.8%)
  6. Canada: -$167.4 million (down -18.4%)
  7. India: -$112.5 million (up 69.6%)
  8. Italy: -$106.2 million (down -23.6%)
  9. Russia: -$96.7 million (up 9.9%)
  10. United Kingdom: -$92.2 million (up 36.5%)
  11. South Korea: -$90 million (up 6.8%)
  12. Austria: -$66.6 million (up 55.6%)
  13. Poland: -$63.7 million (up 66.3%)
  14. Turkey: -$46.8 million (down -16.3%)
  15. Iran: -$44.9 million (up 13.7%)

Overtaking Japan in 2017, 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 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:
The World Factbook, Field Listing: Exports – Commodities, Central Intelligence Agency. Accessed on September 12, 2018

Trade Map, International Trade Centre. Accessed on September 12, 2018

Investopedia, Net Exports Definition. Accessed on September 12, 2018

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

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