Orthopedic Prosthetics Market Overview in Bulgaria
Market Overview
The Bulgarian orthopedic prosthetics market dropped to $
in 2019, declining by -% 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). Overall, consumption, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when the market value increased by % year-to-year. Over the period under review, the market attained the peak level at $ in 2017; however, from 2018 to 2019, consumption remained at a lower figure.
In value terms, orthopedic prosthetics production expanded sharply to $ in 2019 estimated in export prices. Over the period under review, production, however, continues to indicate a abrupt setback. The most prominent rate of growth was recorded in 2015 with an increase of % y-o-y. Over the period under review, production hit record highs at $ in 2007; however, from 2008 to 2019, production failed to regain the momentum.
in 2019, declining by -% 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). Overall, consumption, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when the market value increased by % year-to-year. Over the period under review, the market attained the peak level at $ in 2017; however, from 2018 to 2019, consumption remained at a lower figure.In value terms, orthopedic prosthetics production expanded sharply to $
in 2019 estimated in export prices. Over the period under review, production, however, continues to indicate a abrupt setback. The most prominent rate of growth was recorded in 2015 with an increase of % y-o-y. Over the period under review, production hit record highs at $ in 2007; however, from 2008 to 2019, production failed to regain the momentum.Consumption
In 2019, the amount of artificial parts of the body (excl. artificial teeth and dental fittings and artificial joints) consumed in Bulgaria dropped to tonnes, shrinking by -% on 2018. Overall, consumption, however, saw tangible growth. The most prominent rate of growth was recorded in 2013 with an increase of % year-to-year. Over the period under review, consumption attained the maximum volume at tonnes in 2017; however, from 2018 to 2019, consumption failed to regain the momentum.
The size of the orthopedic prosthetics market in Bulgaria shrank to $ in 2019, declining by -% 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, consumption, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 with an increase of % year-to-year. Orthopedic prosthetics consumption peaked at $ in 2017; however, from 2018 to 2019, consumption remained at a lower figure.
tonnes, shrinking by -% on 2018. Overall, consumption, however, saw tangible growth. The most prominent rate of growth was recorded in 2013 with an increase of % year-to-year. Over the period under review, consumption attained the maximum volume at tonnes in 2017; however, from 2018 to 2019, consumption failed to regain the momentum.The size of the orthopedic prosthetics market in Bulgaria shrank to $
in 2019, declining by -% 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, consumption, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 with an increase of % year-to-year. Orthopedic prosthetics consumption peaked at $ in 2017; however, from 2018 to 2019, consumption remained at a lower figure.Market Forecast
Driven by increasing demand for orthopedic prosthetics in Bulgaria, the market is expected to continue an upward consumption trend over the next decade. Market performance is forecast to accelerate, expanding with an anticipated CAGR of +% for the period from 2019 to , which is projected to bring the market volume to tonnes by the end of .
% for the period from 2019 to , which is projected to bring the market volume to tonnes by the end of .Market Structure
Driven by a growing demand, the share of imports in total supply in Bulgaria increased significantly over the last twelve years (from % to %).
% to %).Trade Balance
Bulgaria remains a net importer of orthopedic prosthetics; in physical and value terms, imports consistently exceeded exports from 2007 to 2019. In 2019, there was a significant trade deficit of tonnes, which was equal to $. This tangible trade deficit reflects the fact that the market remains dependent on imports, which is likely to continue in the medium term.
tonnes, which was equal to $. This tangible trade deficit reflects the fact that the market remains dependent on imports, which is likely to continue in the medium term.
Download XLSX
Download all the data in the form of a report