ASEAN: Medical Gel Preparations Market 2024

Medical Gel Preparations Market Size in ASEAN

In 2022, the ASEAN medical gel preparations market decreased by -8.4% to $X, falling for the fourth year in a row after four years of growth. Over the period under review, consumption, however, continues to indicate a relatively flat trend pattern. The level of consumption peaked at $X in 2018; however, from 2019 to 2022, consumption failed to regain momentum.

Medical Gel Preparations Production in ASEAN

In value terms, medical gel preparations production stood at $X in 2022 estimated in export price. The total production indicated a slight expansion from 2012 to 2022: its value increased at an average annual rate of +1.5% 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 -1.1% against 2020 indices. The most prominent rate of growth was recorded in 2019 with an increase of 23%. The level of production peaked at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Medical Gel Preparations Exports

Exports in ASEAN

In 2022, overseas shipments of gel preparations for human or veterinary medicine increased by 17% to X tons, rising for the sixth consecutive year after three years of decline. Overall, exports saw a strong expansion. The pace of growth was the most pronounced in 2020 when exports increased by 65%. Over the period under review, the exports attained the maximum in 2022 and are likely to see gradual growth in the immediate term.

In value terms, medical gel preparations exports soared to $X in 2022. Over the period under review, exports showed a resilient increase. The growth pace was the most rapid in 2020 when exports increased by 65%. Over the period under review, the exports attained the maximum in 2022 and are likely to see steady growth in the near future.

Exports by Country

Thailand dominates exports structure, reaching X tons, which was approx. 92% of total exports in 2022. It was distantly followed by Malaysia (X tons), committing a 5% share of total exports. Singapore (X tons) took a minor share of total exports.

Exports from Thailand increased at an average annual rate of +14.7% from 2012 to 2022. At the same time, Malaysia (+15.9%) and Singapore (+10.8%) displayed positive paces of growth. Moreover, Malaysia emerged as the fastest-growing exporter exported in ASEAN, with a CAGR of +15.9% from 2012-2022. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, Thailand ($X) remains the largest medical gel preparations supplier in ASEAN, comprising 88% of total exports. The second position in the ranking was taken by Singapore ($X), with a 7.4% share of total exports.

In Thailand, medical gel preparations exports expanded at an average annual rate of +8.1% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Singapore (+16.4% per year) and Malaysia (+8.4% per year).

Export Prices by Country

The export price in ASEAN stood at $X per ton in 2022, picking up by 4.1% against the previous year. Over the period under review, the export price, however, saw a deep downturn. The most prominent rate of growth was recorded in 2015 an increase of 12%. Over the period under review, the export prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Singapore ($X per ton), while Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Singapore (+5.1%), while the other leaders experienced a decline in the export price figures.

Medical Gel Preparations Imports

Imports in ASEAN

In 2022, medical gel preparations imports in ASEAN dropped significantly to X tons, waning by -25.6% compared with the previous year. Over the period under review, imports, however, recorded a tangible expansion. The pace of growth was the most pronounced in 2017 when imports increased by 239% against the previous year. As a result, imports reached the peak of X tons. From 2018 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, medical gel preparations imports reduced to $X in 2022. In general, imports, however, enjoyed a resilient expansion. The growth pace was the most rapid in 2017 with an increase of 141%. The level of import peaked at $X in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Myanmar (X tons), distantly followed by Malaysia (X tons), Singapore (X tons), Vietnam (X tons), Indonesia (X tons) and the Philippines (X tons) represented the main importers of gel preparations for human or veterinary medicine, together making up 95% of total imports. Thailand (X tons) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Vietnam (with a CAGR of +16.4%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Myanmar ($X), Thailand ($X) and Vietnam ($X) were the countries with the highest levels of imports in 2022, together accounting for 56% of total imports.

Thailand, with a CAGR of +18.6%, saw the highest rates of growth with regard to the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in ASEAN stood at $X per ton in 2022, surging by 24% against the previous year. Over the period under review, the import price continues to indicate pronounced growth. The most prominent rate of growth was recorded in 2021 an increase of 91% against the previous year. Over the period under review, import prices attained the maximum in 2022 and is expected to retain growth in the immediate term.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Thailand ($X per ton), while the Philippines ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Thailand (+17.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform