Colombia: Antibiotic Market 2024

Antibiotic Market Size in Colombia

After two years of decline, the Colombian antibiotic market increased by 20% to $X in 2021. In general, the total consumption indicated a tangible expansion from 2012 to 2021: its value increased at an average annual rate of +2.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Antibiotic consumption peaked at $X in 2018; however, from 2019 to 2021, consumption stood at a somewhat lower figure.

Antibiotic Exports

Exports from Colombia

Antibiotic exports from Colombia surged to X tons in 2021, increasing by 86% against the previous year. Over the period under review, exports, however, recorded a abrupt setback. The growth pace was the most rapid in 2019 when exports increased by 464% against the previous year. As a result, the exports reached the peak of X tons. From 2020 to 2021, the growth of the exports failed to regain momentum.

In value terms, antibiotic exports surged to $X in 2021. In general, exports, however, continue to indicate a abrupt downturn. The most prominent rate of growth was recorded in 2019 with an increase of 323%. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

India (X tons), Peru (X kg) and China (X kg) were the main destinations of antibiotic exports from Colombia, together comprising 21% of total exports.

From 2012 to 2021, the biggest increases were recorded for China (with a CAGR of +22.9%), while shipments for the other leaders experienced mixed trend patterns.

In value terms, India ($X) emerged as the key foreign market for antibiotics exports from Colombia, comprising 24% of total exports. The second position in the ranking was taken by China ($X), with an 8.5% share of total exports. It was followed by Peru, with a 3.5% share.

From 2012 to 2021, the average annual rate of growth in terms of value to India amounted to +3.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (+23.6% per year) and Peru (+8.7% per year).

Export Prices by Country

The average antibiotic export price stood at $X per ton in 2021, waning by -35.3% against the previous year. Over the period under review, the export price recorded a perceptible setback. The most prominent rate of growth was recorded in 2020 an increase of 171%. As a result, the export price reached the peak level of $X per ton, and then contracted dramatically in the following year.

There were significant differences in the average prices for the major external markets. In 2021, amid the top suppliers, the country with the highest price was India ($X per ton), while the average price for exports to Venezuela ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the Dominican Republic (+13.9%), while the prices for the other major destinations experienced more modest paces of growth.

Antibiotic Imports

Imports into Colombia

In 2021, overseas purchases of antibiotics were finally on the rise to reach X tons for the first time since 2017, thus ending a three-year declining trend. Over the period under review, imports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 with an increase of 57% against the previous year. Imports peaked at X tons in 2017; however, from 2018 to 2021, imports remained at a lower figure.

In value terms, antibiotic imports skyrocketed to $X in 2021. The total import value increased at an average annual rate of +4.1% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, China (X tons) was the main antibiotic supplier to Colombia, accounting for a 142% share of total imports. Moreover, antibiotic imports from China exceeded the figures recorded by the second-largest supplier, Spain (X tons), more than tenfold. The third position in this ranking was held by India (X tons), with a 6.6% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China amounted to +8.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (+11.3% per year) and India (-4.5% per year).

In value terms, China ($X) constituted the largest supplier of antibiotics to Colombia, comprising 83% of total imports. The second position in the ranking was taken by India ($X), with a 10% share of total imports. It was followed by Spain, with an 8.4% share.

From 2012 to 2021, the average annual growth rate of value from China amounted to +7.9%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+1.4% per year) and Spain (+9.5% per year).

Import Prices by Country

The average antibiotic import price stood at $X per ton in 2021, surging by 16% against the previous year. In general, the import price continues to indicate a pronounced increase. The growth pace was the most rapid in 2019 an increase of 130% against the previous year. The import price peaked in 2021 and is expected to retain growth in years to come.

There were significant differences in the average prices amongst the major supplying countries. In 2021, 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 2021, the most notable rate of growth in terms of prices was attained by India (+6.1%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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