Colombia: Market for Medicaments Of Penicillins, Streptomycins Or Derivatives Thereof 2024

Market Size for Medicaments Of Penicillins, Streptomycins Or Derivatives Thereof in Colombia

The Colombian penicillins or streptomycins medicaments market shrank to $X in 2022, declining by -5.5% against the previous year. Over the period under review, consumption, however, saw a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2014 to 2022, the growth of the market remained at a lower figure.

Production of Medicaments Of Penicillins, Streptomycins Or Derivatives Thereof in Colombia

In value terms, penicillins or streptomycins medicaments production fell slightly to $X in 2022 estimated in export price. Overall, production, however, saw a pronounced decrease. The pace of growth was the most pronounced in 2018 when the production volume increased by 22% against the previous year. Penicillins or streptomycins medicaments production peaked at $X in 2013; however, from 2014 to 2022, production remained at a lower figure.

Exports of Medicaments Of Penicillins, Streptomycins Or Derivatives Thereof

Exports from Colombia

Penicillins or streptomycins medicaments exports from Colombia soared to X tons in 2022, growing by 25% compared with the previous year. In general, exports, however, recorded a pronounced downturn. The pace of growth appeared the most rapid in 2020 when exports increased by 50% against the previous year. The exports peaked at X tons in 2016; however, from 2017 to 2022, the exports failed to regain momentum.

In value terms, penicillins or streptomycins medicaments exports rose significantly to $X in 2022. Overall, exports, however, saw a abrupt downturn. The pace of growth was the most pronounced in 2020 when exports increased by 37%. Over the period under review, the exports attained the peak figure at $X in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Peru (X tons), Ecuador (X tons) and Chile (X tons) were the main destinations of penicillins or streptomycins medicaments exports from Colombia, with a combined 64% share of total exports. Guatemala, Panama, Mexico, Yemen, Bolivia, Venezuela, El Salvador and Uruguay lagged somewhat behind, together comprising a further 31%.

From 2012 to 2022, the biggest increases were recorded for Mexico (with a CAGR of +14.5%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Peru ($X), Ecuador ($X) and Chile ($X) were the largest markets for penicillins or streptomycins medicaments exported from Colombia worldwide, with a combined 55% share of total exports. Guatemala, Panama, El Salvador, Mexico, Yemen, Bolivia, Venezuela and Uruguay lagged somewhat behind, together comprising a further 38%.

Bolivia, with a CAGR of +10.2%, saw the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average penicillins or streptomycins medicaments export price amounted to $X per ton, waning by -13.9% against the previous year. In general, the export price showed a deep contraction. The most prominent rate of growth was recorded in 2019 an increase of 19% against the previous year. Over the period under review, the average export prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a 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 El Salvador ($X per ton), while the average price for exports to Chile ($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 Arab Emirates (+8.7%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Medicaments Of Penicillins, Streptomycins Or Derivatives Thereof

Imports into Colombia

In 2022, purchases abroad of medicaments of penicillins, streptomycins or derivatives thereof decreased by -2.4% to X tons for the first time since 2018, thus ending a three-year rising trend. Overall, total imports indicated resilient growth from 2012 to 2022: its volume increased at an average annual rate of +5.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +69.7% against 2018 indices. The most prominent rate of growth was recorded in 2013 when imports increased by 59%. Over the period under review, imports attained the peak figure at X tons in 2021, and then dropped slightly in the following year.

In value terms, penicillins or streptomycins medicaments imports contracted to $X in 2022. Over the period under review, imports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when imports increased by 75% against the previous year. As a result, imports reached the peak of $X. From 2014 to 2022, the growth of imports remained at a lower figure.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of penicillins or streptomycins medicaments to Colombia, accounting for a 47% share of total imports. Moreover, penicillins or streptomycins medicaments imports from China exceeded the figures recorded by the second-largest supplier, Brazil (X tons), sixfold. The third position in this ranking was taken by Slovenia (X tons), with a 6.7% share.

From 2012 to 2022, the average annual growth rate of volume from China totaled +38.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Brazil (+24.6% per year) and Slovenia (+23.2% per year).

In value terms, China ($X) constituted the largest supplier of medicaments of penicillins, streptomycins or derivatives thereof to Colombia, comprising 21% of total imports. The second position in the ranking was held by India ($X), with a 9.5% share of total imports. It was followed by Brazil, with an 8.6% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China amounted to +39.5%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+25.7% per year) and Brazil (+22.9% per year).

Import Prices by Country

In 2022, the average penicillins or streptomycins medicaments import price amounted to $X per ton, shrinking by -7.5% against the previous year. Over the period under review, the import price showed a abrupt downturn. The pace of growth was the most pronounced in 2019 when the average import price increased by 11%. The import price peaked at $X per ton in 2013; however, from 2014 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Italy ($X per ton), while the price for Austria ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Panama (+25.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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