Bulgaria: Medical Gel Preparations Market 2024

Medical Gel Preparations Market Size in Bulgaria

The Bulgarian medical gel preparations market rose slightly to $X in 2022, surging by 1.8% against the previous year. Over the period under review, consumption, however, recorded a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2016 to 2022, the growth of the market remained at a lower figure.

Medical Gel Preparations Production in Bulgaria

In value terms, medical gel preparations production rose markedly to $X in 2022 estimated in export price. Over the period under review, production, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 with an increase of 52% against the previous year. As a result, production reached the peak level of $X. From 2021 to 2022, production growth remained at a somewhat lower figure.

Medical Gel Preparations Exports

Exports from Bulgaria

In 2022, the amount of gel preparations for human or veterinary medicine exported from Bulgaria surged to X tons, jumping by 142% on 2021. Overall, exports posted a resilient expansion. The pace of growth was the most pronounced in 2014 with an increase of 302%. The exports peaked in 2022 and are likely to continue growth in the immediate term.

In value terms, medical gel preparations exports soared to $X in 2022. In general, exports enjoyed a significant increase. The most prominent rate of growth was recorded in 2015 when exports increased by 800%. As a result, the exports attained the peak of $X. From 2016 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Russia (X tons) was the main destination for medical gel preparations exports from Bulgaria, with a 59% share of total exports. Moreover, medical gel preparations exports to Russia exceeded the volume sent to the second major destination, Spain (X tons), eightfold. The third position in this ranking was held by Romania (X tons), with a 5.8% share.

From 2012 to 2022, the average annual growth rate of volume to Russia amounted to +84.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Spain (+318.3% per year) and Romania (+17.8% per year).

In value terms, Russia ($X) emerged as the key foreign market for gel preparations for human or veterinary medicine exports from Bulgaria, comprising 84% of total exports. The second position in the ranking was held by Romania ($X), with a 1.7% share of total exports. It was followed by the United Arab Emirates, with a 1.5% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Russia stood at +98.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Romania (+20.2% per year) and the United Arab Emirates (+633.3% per year).

Export Prices by Country

The average medical gel preparations export price stood at $X per ton in 2022, picking up by 95% against the previous year. Overall, the export price posted a significant increase. The growth pace was the most rapid in 2015 when the average export price increased by 402%. As a result, the export price reached the peak level of $X per ton. From 2016 to 2022, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Russia ($X per ton), while the average price for exports to Iraq ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Myanmar (+24.3%), while the prices for the other major destinations experienced more modest paces of growth.

Medical Gel Preparations Imports

Imports into Bulgaria

In 2022, medical gel preparations imports into Bulgaria declined modestly to X tons, shrinking by -4.5% compared with the previous year's figure. Overall, imports, however, recorded resilient growth. The pace of growth was the most pronounced in 2015 with an increase of 2,358%. As a result, imports reached the peak of X tons. From 2016 to 2022, the growth of imports remained at a lower figure.

In value terms, medical gel preparations imports rose sharply to $X in 2022. Over the period under review, imports, however, saw a remarkable increase. The most prominent rate of growth was recorded in 2015 with an increase of 447%. As a result, imports reached the peak of $X. From 2016 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

Italy (X tons), Turkey (X tons) and the Czech Republic (X tons) were the main suppliers of medical gel preparations imports to Bulgaria, with a combined 86% share of total imports. The Netherlands, India, Germany and China lagged somewhat behind, together accounting for a further 11%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the Netherlands (with a CAGR of +47.8%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest medical gel preparations suppliers to Bulgaria were Italy ($X), the Czech Republic ($X) and India ($X), with a combined 57% share of total imports. Turkey, Germany, the Netherlands and China lagged somewhat behind, together accounting for a further 26%.

Turkey, with a CAGR of +24.5%, recorded the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average medical gel preparations import price stood at $X per ton in 2022, surging by 19% against the previous year. Overall, the import price, however, saw a abrupt curtailment. The pace of growth was the most pronounced in 2014 when the average import price increased by 242%. As a result, import price reached the peak level of $X per ton. From 2015 to 2022, the average import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was India ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+18.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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