That dollar amount reflects an average 18% increase for all international sellers of artificial joints over the five-year period starting from $11.1 billion in 2018.
Year over year, the value of globally exported artificial joints rose by 11% compared to $11.8 billion in 2021.
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.
The 5 biggest exporters of artificial joints by value are the Netherlands, Ireland, United States of America, Belgium and Switzerland. Combined, that quintet of leading suppliers generated over seven-tenths (72.3%) of artificial joints sold on international markets during 2022.
Among continents, exporters in Europe sold the highest dollar worth of exported artificial joints during 2022 with shipments valued at $10.9 billion or over four-fifths (83%) of overall exports for these highly specialized limb-related replacements. In second place were suppliers in North America at 12.2% while another 4.5% of worldwide artificial joints shipments originated from Asia.
Tinier percentages came from Oceania (0.1%) mostly Australia, then Latin America (also 0.1%) excluding Mexico but including the Caribbean, and Africa (0.04%).
For research purposes, artificial joints for orthopedic purposes are classified under 902131, a 6-digit Harmonized Tariff System code prefix.
Top Artificial Joints Exporters by Country
Below are the 15 countries that exported the highest dollar value worth of artificial joints during 2022.
- Netherlands: US$3 billion (23.2% of exported artificial joints)
- Ireland: $2.1 billion (15.9%)
- United States: $1.6 billion (12.2%)
- Belgium: $1.4 billion (10.6%)
- Switzerland: $1.4 billion (10.4%)
- Germany: $962.1 million (7.3%)
- United Kingdom: $881.2 million (6.7%)
- France: $579 million (4.4%)
- Italy: $318.5 million (2.4%)
- China: $294.4 million (2.2%)
- Singapore: $143 million (1.1%)
- Austria: $66.3 million (0.5%)
- Iceland: $45.8 million (0.3%)
- India: $45.4 million (0.3%)
- Taiwan: $45.2 million (0.3%)
By value, the listed 15 countries shipped 98.1% of globally exported artificial joints in 2022.
Among the top exporters, the fastest-growing exporters of artificial joints since 2021 were: Austria (up 88.3%), India (up 75.6%), Iceland (up 44.8%) and mainland China (up 34.8%).
A trio of major posted declines in their international sales of artificial joints were led by: Germany (down -5.4% from 2021), Italy (down -3.3%) and Singapore (down -1.3%).
Countries Earning Trade Surpluses from Artificial Joints
The following countries posted the highest positive net exports for artificial joints during 2022. 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.
- Ireland: US$1.8 billion (net export surplus up 3.3% since 2021)
- Switzerland: $910.4 million (up 24.2%)
- Netherlands: $889.9 million (down -10.7%)
- Germany: $264.5 million (down -4.3%)
- United Kingdom: $174 million (down -50.9%)
- Belgium: $138.2 million (down -56.7%)
- France: $94.8 million (reversing a -$16.6 million deficit)
- Iceland: $43.3 million (up 53.5%)
- Singapore: $18 million (down -60.4%)
- Taiwan: $11.1 million (up 68.2%)
- Georgia: $3.8 million (up 154.4%)
- Philippines: $2.5 million (down -75.5%)
- US Minor Outlying Is: $124,000 (reversing a -$694,000 deficit)
- Andorra: $93,000 (down -39.6%)
- Equatorial Guinea: $70,000 (reversing a -$1,000 deficit)
Ireland generated the highest surplus in the international trade of artificial joints. In turn, this positive cashflow confirms Ireland’s strong competitive advantages for this specific product category.
Countries Incurring Trade Deficits from Artificial Joints
The following countries posted the highest negative net exports for artificial joints during 2022. 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.
- United States: -US$1.2 billion (net export deficit up 9.6% since 2021)
- Japan: -$482.2 million (up 5.9%)
- Australia: -$347 million (up 7.9%)
- China: -$205.5 million (down -46.1%)
- Spain: -$166.1 million (down -12%)
- Canada: -$163.5 million (up 13.4%)
- Russia: -$123.8 million (up 52.3%)
- India: -$121 million (up 34.7%)
- Italy: -$93.1 million (down -29.8%)
- South Korea: -$74.9 million (down -4.1%)
- Iran: -$73.7 million (down -48%)
- Poland: -$68.2 million (down -10.4%)
- Brazil: -$60.8 million (up 86.9%)
- South Africa: -$56.6 million (up 10.1%)
- New Zealand: -$48.7 million (down -6.4%)
The United States of America 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.
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 October 31, 2023
Central Intelligence Agency, The World Factbook Field Listing: Exports – Commodities. Accessed on October 31, 2023
Forbes Global 2000 rankings, The World’s Biggest Public Companies. Accessed on October 31, 2023
International Trade Centre, Trade Map. Accessed on October 31, 2023
Investopedia, Net Exports Definition. Accessed on October 31, 2023
Morningstar, Industry Peers for Stryker Corp. Accessed on October 31, 2023