Canada: Medical Gel Preparations Market 2024

Medical Gel Preparations Market Size in Canada

In 2022, after two years of growth, there was significant decline in the Canadian medical gel preparations market, when its value decreased by -7.1% to $X. Overall, the total consumption indicated noticeable growth from 2012 to 2022: its value increased at an average annual rate of +2.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +36.6% against 2019 indices. As a result, consumption reached the peak level of $X, and then contracted in the following year.

Medical Gel Preparations Production in Canada

In value terms, medical gel preparations production expanded modestly to $X in 2022 estimated in export price. Over the period under review, production, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 with an increase of 28%. As a result, production reached the peak level of $X. From 2019 to 2022, production growth remained at a lower figure.

Medical Gel Preparations Exports

Exports from Canada

In 2022, shipments abroad of gel preparations for human or veterinary medicine increased by 6.3% to X tons, rising for the second consecutive year after two years of decline. Over the period under review, exports showed pronounced growth. The growth pace was the most rapid in 2013 when exports increased by 68%. The exports peaked at X tons in 2015; however, from 2016 to 2022, the exports remained at a lower figure.

In value terms, medical gel preparations exports reduced to $X in 2022. Overall, total exports indicated tangible growth from 2012 to 2022: its value increased at an average annual rate of +3.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +17.1% against 2020 indices. The pace of growth appeared the most rapid in 2015 when exports increased by 48%. As a result, the exports reached the peak of $X. From 2016 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

The United States (X tons) was the main destination for medical gel preparations exports from Canada, accounting for a 85% share of total exports. Moreover, medical gel preparations exports to the United States exceeded the volume sent to the second major destination, the UK (X tons), ninefold.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United States totaled +3.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: the UK (+7.8% per year) and Australia (+11.6% per year).

In value terms, the United States ($X) remains the key foreign market for gel preparations for human or veterinary medicine exports from Canada, comprising 82% of total exports. The second position in the ranking was taken by the UK ($X), with a 4.4% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States stood at +7.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: the UK (+2.3% per year) and Australia (+9.6% per year).

Export Prices by Country

In 2022, the average medical gel preparations export price amounted to $X per ton, dropping by -14.2% against the previous year. In general, the export price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 an increase of 42% against the previous year. Over the period under review, the average export prices reached the maximum at $X per ton in 2019; however, from 2020 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to the UK ($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 the United States (+3.6%), while the prices for the other major destinations experienced a decline.

Medical Gel Preparations Imports

Imports into Canada

In 2022, medical gel preparations imports into Canada contracted remarkably to X tons, which is down by -17.6% compared with the year before. Overall, imports, however, saw a prominent expansion. The pace of growth was the most pronounced in 2021 with an increase of 167% against the previous year. As a result, imports attained the peak of X tons, and then declined remarkably in the following year.

In value terms, medical gel preparations imports expanded modestly to $X in 2022. Over the period under review, imports, however, enjoyed a prominent expansion. The pace of growth was the most pronounced in 2021 with an increase of 164%. Over the period under review, imports hit record highs in 2022 and are likely to see gradual growth in the near future.

Imports by Country

In 2022, the United States (X tons) constituted the largest medical gel preparations supplier to Canada, with a 66% share of total imports. Moreover, medical gel preparations imports from the United States exceeded the figures recorded by the second-largest supplier, Ireland (X tons), threefold. The third position in this ranking was taken by China (X tons), with a 6.9% share.

From 2012 to 2022, the average annual growth rate of volume from the United States stood at +9.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Ireland (+143.4% per year) and China (+31.4% per year).

In value terms, the United States ($X), Ireland ($X) and China ($X) were the largest medical gel preparations suppliers to Canada, together comprising 96% of total imports.

Ireland, with a CAGR of +110.2%, saw the highest growth rate of the value of imports, in terms of 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, growing by 25% against the previous year. Over the last decade, it increased at an average annual rate of +2.4%. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+6.2%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :