Cuba: Market for Medicaments Containing Corticosteroid Hormones 2024

Market Size for Medicaments Containing Corticosteroid Hormones in Cuba

The Cuban medicaments containing corticosteroid hormones market rose significantly to $X in 2021, growing by 11% against the previous year. In general, consumption saw a buoyant expansion. Over the period under review, the market attained the peak level at $X in 2019; however, from 2020 to 2021, consumption stood at a somewhat lower figure.

Production of Medicaments Containing Corticosteroid Hormones in Cuba

In value terms, medicaments containing corticosteroid hormones production soared to $X in 2021 estimated in export price. Overall, production recorded a remarkable increase. The most prominent rate of growth was recorded in 2018 when the production volume increased by 99% against the previous year. Over the period under review, production attained the peak level at $X in 2019; however, from 2020 to 2021, production remained at a lower figure.

Exports of Medicaments Containing Corticosteroid Hormones

Exports from Cuba

In 2021, after four years of decline, there was growth in shipments abroad of medicaments containing corticosteroid hormones, when their volume increased by 3.1% to X tons. In general, exports, however, continue to indicate a sharp decrease. The pace of growth was the most pronounced in 2016 when exports increased by 34% against the previous year. Over the period under review, the exports reached the maximum at X tons in 2013; however, from 2014 to 2021, the exports remained at a lower figure.

In value terms, medicaments containing corticosteroid hormones exports skyrocketed to $X in 2021. Overall, exports, however, saw a abrupt contraction. The most prominent rate of growth was recorded in 2015 when exports increased by 80% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2013; however, from 2014 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Venezuela (X tons) was the main destination for medicaments containing corticosteroid hormones exports from Cuba, accounting for a approx. 99% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of volume to Venezuela stood at -26.6%.

In value terms, Venezuela ($X) also remains the key foreign market for medicaments containing corticosteroid hormones exports from Cuba.

From 2012 to 2021, the average annual growth rate of value to Venezuela amounted to -9.2%.

Export Prices by Country

In 2021, the average medicaments containing corticosteroid hormones export price amounted to $X per ton, rising by 17% against the previous year. In general, the export price saw a significant increase. The growth pace was the most rapid in 2018 an increase of 109%. The export price peaked at $X per ton in 2019; however, from 2020 to 2021, the export prices failed to regain momentum.

As there is only one major export destination, the average price level is determined by prices for Venezuela.

From 2012 to 2021, the rate of growth in terms of prices for Venezuela amounted to +23.6% per year.

Imports of Medicaments Containing Corticosteroid Hormones

Imports into Cuba

In 2021, the amount of medicaments containing corticosteroid hormones imported into Cuba fell dramatically to X tons, shrinking by -61.1% compared with 2020 figures. Over the period under review, imports saw a precipitous decline. The most prominent rate of growth was recorded in 2015 when imports increased by 102% against the previous year. Over the period under review, imports attained the maximum at X tons in 2016; however, from 2017 to 2021, imports failed to regain momentum.

In value terms, medicaments containing corticosteroid hormones imports contracted sharply to $X in 2021. In general, imports saw a dramatic setback. The most prominent rate of growth was recorded in 2015 when imports increased by 130%. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Mexico (X tons), the UK (X tons) and India (X kg) were the main suppliers of medicaments containing corticosteroid hormones imports to Cuba, together comprising 83% of total imports. Panama, Argentina, Belarus and China lagged somewhat behind, together comprising a further 11%.

From 2012 to 2021, the biggest increases were recorded for Belarus (with a CAGR of 0.0%), while purchases for the other leaders experienced a decline.

In value terms, the UK ($X) constituted the largest supplier of medicaments containing corticosteroid hormones to Cuba, comprising 73% of total imports. The second position in the ranking was taken by Panama ($X), with an 11% share of total imports. It was followed by Mexico, with a 4.1% share.

From 2012 to 2021, the average annual rate of growth in terms of value from the UK amounted to -5.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Panama (-41.4% per year) and Mexico (-29.7% per year).

Import Prices by Country

The average medicaments containing corticosteroid hormones import price stood at $X per ton in 2021, with a decrease of -19.3% against the previous year. In general, the import price showed a abrupt decrease. The pace of growth appeared the most rapid in 2018 an increase of 23% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was the UK ($X per ton), while the price for Mexico ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+5.3%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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