Colombia: X-Ray Examination Preparations Market 2024

X-Ray Examination Preparations Market Size in Colombia

The Colombian x-ray examination preparations market shrank to $X in 2022, which is down by -10% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, the total consumption indicated a resilient increase from 2012 to 2022: its value increased at an average annual rate of +9.3% 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 +59.2% against 2015 indices. Over the period under review, the market attained the peak level at $X in 2021, and then declined in the following year.

X-Ray Examination Preparations Exports

Exports from Colombia

In 2022, overseas shipments of opacifying preparations for x-ray examinations were finally on the rise to reach X kg after two years of decline. Over the period under review, exports, however, showed a drastic downturn. The most prominent rate of growth was recorded in 2017 when exports increased by 319%. Over the period under review, the exports reached the maximum at X kg in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

In value terms, x-ray examination preparations exports soared to $X in 2022. In general, exports, however, continue to indicate a noticeable descent. The pace of growth was the most pronounced in 2014 when exports increased by 469% against the previous year. As a result, the exports reached the peak of $X. From 2015 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

El Salvador (X kg) was the main destination for x-ray examination preparations exports from Colombia, with a 60% share of total exports. Moreover, x-ray examination preparations exports to El Salvador exceeded the volume sent to the second major destination, Guatemala (X kg), sevenfold. Venezuela (X kg) ranked third in terms of total exports with a 7.9% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to El Salvador totaled +11.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Guatemala (-14.7% per year) and Venezuela (+23.1% per year).

In value terms, the largest markets for x-ray examination preparations exported from Colombia were El Salvador ($X), Panama ($X) and Venezuela ($X), together accounting for 53% of total exports. Honduras, the Dominican Republic, Norway, Ecuador and Guatemala lagged somewhat behind, together comprising a further 16%.

Norway, with a CAGR of +31.5%, recorded the highest rates of growth with regard to the value of exports, in terms of 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

The average x-ray examination preparations export price stood at $X per ton in 2022, increasing by 17% against the previous year. Over the period under review, export price indicated perceptible growth from 2012 to 2022: its price increased at an average annual rate of +4.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, x-ray examination preparations export price decreased by -17.0% against 2019 indices. The pace of growth was the most pronounced in 2013 an increase of 66% against the previous year. Over the period under review, the average export prices reached the maximum at $X per ton in 2014; however, from 2015 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Panama ($X per ton), while the average price for exports to Guatemala ($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 Norway (+21.6%), while the prices for the other major destinations experienced more modest paces of growth.

X-Ray Examination Preparations Imports

Imports into Colombia

In 2022, approx. X tons of opacifying preparations for x-ray examinations were imported into Colombia; shrinking by -11% on 2021 figures. Over the period under review, imports, however, saw prominent growth. The growth pace was the most rapid in 2013 when imports increased by 62% against the previous year. Imports peaked at X tons in 2021, and then contracted in the following year.

In value terms, x-ray examination preparations imports dropped to $X in 2022. In general, total imports indicated a prominent expansion from 2012 to 2022: its value increased at an average annual rate of +9.1% 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 +56.1% against 2015 indices. The pace of growth was the most pronounced in 2013 when imports increased by 77% against the previous year. Imports peaked at $X in 2021, and then contracted in the following year.

Imports by Country

Taiwan (Chinese) (X tons), Germany (X tons) and China (X tons) were the main suppliers of x-ray examination preparations imports to Colombia, together comprising 73% of total imports.

From 2012 to 2022, the biggest increases were recorded for Taiwan (Chinese) (with a CAGR of +50.5%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Taiwan (Chinese) ($X) constituted the largest supplier of opacifying preparations for x-ray examinations to Colombia, comprising 38% of total imports. The second position in the ranking was taken by Germany ($X), with a 16% share of total imports. It was followed by China, with a 14% share.

From 2012 to 2022, the average annual growth rate of value from Taiwan (Chinese) stood at +49.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+3.6% per year) and China (+80.7% per year).

Import Prices by Country

In 2022, the average x-ray examination preparations import price amounted to $X per ton, stabilizing at the previous year. Overall, the import price, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 when the average import price increased by 9.3%. Over the period under review, average import prices hit record highs at $X per ton in 2014; however, from 2015 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 Ireland ($X per ton), while the price for Canada ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+21.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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