ASEAN: Market for Medicaments Containing Corticosteroid Hormones 2024

Market Size for Medicaments Containing Corticosteroid Hormones in ASEAN

After two years of growth, the ASEAN medicaments containing corticosteroid hormones market decreased by -1.4% to $X in 2021. In general, consumption, however, enjoyed a resilient increase. Over the period under review, the market hit record highs at $X in 2020, and then reduced slightly in the following year.

Production of Medicaments Containing Corticosteroid Hormones in ASEAN

In value terms, medicaments containing corticosteroid hormones production shrank to $X in 2021 estimated in export price. Over the period under review, production recorded a noticeable contraction. The pace of growth was the most pronounced in 2014 with an increase of 56%. As a result, production attained the peak level of $X. From 2015 to 2021, production growth remained at a lower figure.

Exports of Medicaments Containing Corticosteroid Hormones

Exports in ASEAN

After two years of decline, shipments abroad of medicaments containing corticosteroid hormones increased by 8.3% to X tons in 2021. Over the period under review, exports, however, saw a abrupt descent. The growth pace was the most rapid in 2014 with an increase of 33%. As a result, the exports attained the peak of X tons. From 2015 to 2021, the growth of the exports remained at a lower figure.

In value terms, medicaments containing corticosteroid hormones exports declined remarkably to $X in 2021. Overall, exports, however, faced a abrupt slump. The most prominent rate of growth was recorded in 2014 with an increase of 183% against the previous year. As a result, the exports attained the peak of $X. From 2015 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

Indonesia was the major exporter of medicaments containing corticosteroid hormones in ASEAN, with the volume of exports reaching X tons, which was near 56% of total exports in 2021. Thailand (X tons) held the second position in the ranking, followed by Singapore (X tons) and Malaysia (X tons). All these countries together held near 43% share of total exports.

From 2012 to 2021, average annual rates of growth with regard to medicaments containing corticosteroid hormones exports from Indonesia stood at -10.9%. At the same time, Thailand (+6.0%) displayed positive paces of growth. Moreover, Thailand emerged as the fastest-growing exporter exported in ASEAN, with a CAGR of +6.0% from 2012-2021. By contrast, Malaysia (-3.8%) and Singapore (-16.5%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Thailand and Malaysia increased by +16 and +3.1 percentage points, respectively.

In value terms, Singapore ($X) remains the largest medicaments containing corticosteroid hormones supplier in ASEAN, comprising 73% of total exports. The second position in the ranking was taken by Indonesia ($X), with a 19% share of total exports. It was followed by Malaysia, with a 3.9% share.

From 2012 to 2021, the average annual growth rate of value in Singapore amounted to -10.6%. In the other countries, the average annual rates were as follows: Indonesia (-8.8% per year) and Malaysia (-4.7% per year).

Export Prices by Country

In 2021, the export price in ASEAN amounted to $X per ton, waning by -30.4% against the previous year. Over the period under review, the export price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 an increase of 113%. Over the period under review, the export prices reached the peak figure at $X per ton in 2020, and then contracted significantly in the following year.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Singapore (+7.1%), while the other leaders experienced mixed trends in the export price figures.

Imports of Medicaments Containing Corticosteroid Hormones

Imports in ASEAN

In 2021, supplies from abroad of medicaments containing corticosteroid hormones decreased by -0.4% to X tons, falling for the second year in a row after three years of growth. Total imports indicated a resilient increase from 2012 to 2021: its volume increased at an average annual rate of +5.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -0.5% against 2019 indices. The pace of growth was the most pronounced in 2017 when imports increased by 35%. Over the period under review, imports attained the peak figure at X tons in 2019; afterwards, it flattened through to 2021.

In value terms, medicaments containing corticosteroid hormones imports stood at $X in 2021. In general, imports, however, showed a prominent expansion. The most prominent rate of growth was recorded in 2015 when imports increased by 53%. The level of import peaked in 2021 and is likely to see steady growth in the near future.

Imports by Country

In 2021, Vietnam (X tons) and Malaysia (X tons) represented the key importers of medicaments containing corticosteroid hormones in ASEAN, together creating 55% of total imports. Thailand (X tons) took the next position in the ranking, followed by Singapore (X tons), Indonesia (X tons) and the Philippines (X tons). All these countries together took near 40% share of total imports. Myanmar (X tons) held a minor share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Malaysia (with a CAGR of +17.5%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest medicaments containing corticosteroid hormones importing markets in ASEAN were Vietnam ($X), Thailand ($X) and Singapore ($X), together comprising 63% of total imports. These countries were followed by Malaysia, the Philippines, Indonesia and Myanmar, which together accounted for a further 36%.

In terms of the main importing countries, Myanmar, with a CAGR of +26.8%, saw the highest rates of growth with regard to the value of imports, 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 2021, rising by 3.5% against the previous year. Import price indicated a strong increase from 2012 to 2021: its price increased at an average annual rate of +5.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, medicaments containing corticosteroid hormones import price increased by +30.3% against 2017 indices. The growth pace was the most rapid in 2018 an increase of 22%. Over the period under review, import prices reached the peak figure in 2021 and is expected to retain growth in the immediate term.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Indonesia (+14.2%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform