Colombia: Market for Other Medicaments For Therapeutic Or Prophylactic Uses 2025

Market Size for Other Medicaments For Therapeutic Or Prophylactic Uses in Colombia

For the third consecutive year, the Colombian market for other medicaments for therapeutic or prophylactic uses recorded growth in sales value, which increased by X% to $X in 2022. Over the period under review, consumption posted a buoyant expansion. Consumption of peaked in 2022 and is expected to retain growth in the immediate term.

Exports of Other Medicaments For Therapeutic Or Prophylactic Uses

Exports from Colombia

In 2022, after two years of growth, there was significant decline in overseas shipments of other medicaments for therapeutic or prophylactic uses, when their volume decreased by X% to X tons. Over the period under review, exports faced a abrupt downturn. The growth pace was the most rapid in 2020 when exports increased by X%. Over the period under review, the exports of attained the maximum at X tons in 2015; however, from 2016 to 2022, the exports remained at a lower figure.

In value terms, exports of other medicaments for therapeutic or prophylactic uses shrank rapidly to $X in 2022. Overall, exports faced a abrupt shrinkage. The growth pace was the most rapid in 2020 with an increase of X% against the previous year. Over the period under review, the exports of attained the peak figure at $X in 2015; however, from 2016 to 2022, the exports failed to regain momentum.

Exports by Country

Venezuela (X tons) was the main destination for exports of other medicaments for therapeutic or prophylactic uses from Colombia, accounting for a X% share of total exports. Moreover, exports of other medicaments for therapeutic or prophylactic uses to Venezuela exceeded the volume sent to the second major destination, Panama (X tons), fivefold. The third position in this ranking was held by Peru (X kg), with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Venezuela totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Panama (X% per year) and Peru (X% per year).

In value terms, the largest markets for other medicaments for therapeutic or prophylactic uses exported from Colombia were Uruguay ($X), Venezuela ($X) and Peru ($X), together accounting for X% of total exports.

Venezuela, with a CAGR of X%, recorded the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced a decline.

Export Prices by Country

The average export price for other medicaments for therapeutic or prophylactic uses stood at $X per ton in 2022, flattening at the previous year. In general, the export price showed a pronounced setback. The most prominent rate of growth was recorded in 2017 when the average export price increased by X%. The export price peaked at $X per ton in 2019; however, from 2020 to 2022, the export prices failed to regain momentum.

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 Uruguay ($X per ton), while the average price for exports to Panama ($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 India (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Other Medicaments For Therapeutic Or Prophylactic Uses

Imports into Colombia

For the third consecutive year, Colombia recorded growth in supplies from abroad of other medicaments for therapeutic or prophylactic uses, which increased by X% to X tons in 2022. In general, total imports indicated a strong expansion from 2012 to 2022: its volume increased at an average annual rate of X% 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 X% against 2017 indices. The growth pace was the most rapid in 2018 when imports increased by X%. Imports peaked in 2022 and are likely to see steady growth in the immediate term.

In value terms, imports of other medicaments for therapeutic or prophylactic uses soared to $X in 2022. Over the period under review, imports continue to indicate buoyant growth. The growth pace was the most rapid in 2020 with an increase of X%. Over the period under review, imports of hit record highs in 2022 and are likely to see steady growth in years to come.

Imports by Country

India (X tons), China (X tons) and Brazil (X tons) were the main suppliers of imports of other medicaments for therapeutic or prophylactic uses to Colombia, with a combined X% share of total imports.

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

In value terms, the largest other medicaments for therapeutic or prophylactic uses suppliers to Colombia were India ($X), China ($X) and the United States ($X), with a combined X% share of total imports.

China, with a CAGR of X%, recorded the highest rates of growth with regard to 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 import price for other medicaments for therapeutic or prophylactic uses stood at $X per ton in 2022, rising by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2021 an increase of X%. The import price peaked in 2022 and is expected to retain growth in years to come.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was India ($X per ton), while the price for Brazil ($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 (X%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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