Costa Rica: Medical Gel Preparations Market 2024

Medical Gel Preparations Market Size in Costa Rica

The Costa Rican medical gel preparations market dropped rapidly to $X in 2022, with a decrease of -66.6% 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, consumption faced a deep reduction. As a result, consumption reached the peak level of $X. From 2020 to 2022, the growth of the market failed to regain momentum.

Medical Gel Preparations Exports

Exports from Costa Rica

In 2022, exports of gel preparations for human or veterinary medicine from Costa Rica surged to X tons, growing by 653% compared with 2021. Over the period under review, exports continue to indicate a buoyant increase. The pace of growth appeared the most rapid in 2014 when exports increased by 712% against the previous year. The exports peaked in 2022 and are likely to see steady growth in the immediate term.

In value terms, medical gel preparations exports reduced slightly to $X in 2022. In general, exports recorded a resilient expansion. The pace of growth was the most pronounced in 2014 with an increase of 564%. Over the period under review, the exports attained the maximum at $X in 2016; however, from 2017 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

The Dominican Republic (X tons), Panama (X tons) and Honduras (X tons) were the main destinations of medical gel preparations exports from Costa Rica, with a combined 83% share of total exports. Guatemala and El Salvador lagged somewhat behind, together accounting for a further 16%.

From 2012 to 2022, the biggest increases were recorded for El Salvador (with a CAGR of +65.0%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for medical gel preparations exported from Costa Rica were Panama ($X), the Dominican Republic ($X) and Guatemala ($X), with a combined 79% share of total exports. Honduras and El Salvador lagged somewhat behind, together accounting for a further 20%.

In terms of the main countries of destination, El Salvador, with a CAGR of +74.7%, saw the highest growth rate of the value of exports, 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 medical gel preparations export price amounted to $X per ton, shrinking by -87.3% against the previous year. In general, the export price, however, continues to indicate pronounced growth. The most prominent rate of growth was recorded in 2021 when the average export price increased by 584%. As a result, the export price reached the peak level of $X per ton, and then shrank sharply in the following year.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Guatemala ($X per ton), while the average price for exports to the Dominican Republic ($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 El Salvador (+5.9%), while the prices for the other major destinations experienced more modest paces of growth.

Medical Gel Preparations Imports

Imports into Costa Rica

Medical gel preparations imports into Costa Rica dropped rapidly to X tons in 2022, with a decrease of -43.8% against the year before. Overall, imports continue to indicate a abrupt slump. The pace of growth was the most pronounced in 2019 with an increase of 68% against the previous year. As a result, imports reached the peak of X tons. From 2020 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, medical gel preparations imports reduced dramatically to $X in 2022. Over the period under review, imports continue to indicate a pronounced descent. The most prominent rate of growth was recorded in 2019 when imports increased by 116%. As a result, imports attained the peak of $X. From 2020 to 2022, the growth of imports remained at a lower figure.

Imports by Country

In 2022, Thailand (X tons) constituted the largest medical gel preparations supplier to Costa Rica, accounting for a 59% share of total imports. Moreover, medical gel preparations imports from Thailand exceeded the figures recorded by the second-largest supplier, the United States (X tons), fivefold. Spain (X tons) ranked third in terms of total imports with an 8.8% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Thailand amounted to +19.8%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-16.1% per year) and Spain (-0.8% per year).

In value terms, the United States ($X), Thailand ($X) and Austria ($X) were the largest medical gel preparations suppliers to Costa Rica, together accounting for 76% of total imports. Italy, Belgium, Turkey, Spain, Colombia and China lagged somewhat behind, together comprising a further 9.1%.

In terms of the main suppliers, Turkey, with a CAGR of +47.3%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average medical gel preparations import price amounted to $X per ton, surging by 36% against the previous year. Over the period under review, import price indicated a strong expansion from 2012 to 2022: its price increased at an average annual rate of +5.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, medical gel preparations import price increased by +133.6% against 2020 indices. The growth pace was the most rapid in 2021 when the average import price increased by 72%. Over the period under review, average import prices hit record highs in 2022 and is likely to see steady growth in the near future.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (+21.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform