Cuba: Market for Medicaments Containing Insulin But Not Antibiotics In Measured Doses 2024

Market Size for Medicaments Containing Insulin But Not Antibiotics In Measured Doses in Cuba

The Cuban prophylactic medicaments containing insulin market rose modestly to $X in 2021, increasing by 2.1% against the previous year. Overall, the total consumption indicated a prominent expansion from 2012 to 2021: its value increased at an average annual rate of +7.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -1.9% against 2019 indices. Over the period under review, the market reached the peak level at $X in 2019; however, from 2020 to 2021, consumption failed to regain momentum.

Production of Medicaments Containing Insulin But Not Antibiotics In Measured Doses in Cuba

In value terms, prophylactic medicaments containing insulin production amounted to $X in 2021 estimated in export price. Overall, the total production indicated buoyant growth from 2012 to 2021: its value increased at an average annual rate of +6.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -4.1% against 2019 indices. The most prominent rate of growth was recorded in 2014 with an increase of 20%. Over the period under review, production attained the peak level at $X in 2019; however, from 2020 to 2021, production stood at a somewhat lower figure.

Exports of Medicaments Containing Insulin But Not Antibiotics In Measured Doses

Exports from Cuba

In 2021, shipments abroad of medicaments containing insulin but not antibiotics in measured doses increased by 11% to X kg, rising for the second year in a row after six years of decline. Overall, exports, however, faced a sharp setback. The pace of growth was the most pronounced in 2013 when exports increased by 84% against the previous year. As a result, the exports attained the peak of X tons. From 2014 to 2021, the growth of the exports remained at a lower figure.

In value terms, prophylactic medicaments containing insulin exports reduced markedly to $X in 2021. Over the period under review, exports, however, saw a precipitous descent. The most prominent rate of growth was recorded in 2013 with an increase of 73% against the previous year. As a result, the exports reached the peak of $X. From 2014 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Venezuela (X kg) was the main destination for prophylactic medicaments containing insulin exports from Cuba, accounting for a approx. 100% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of volume to Venezuela stood at -37.6%.

In value terms, Venezuela ($X) also remains the key foreign market for medicaments containing insulin but not antibiotics in measured doses exports from Cuba.

From 2012 to 2021, the average annual rate of growth in terms of value to Venezuela amounted to -41.8%.

Export Prices by Country

The average prophylactic medicaments containing insulin export price stood at $X per ton in 2021, falling by -27.9% against the previous year. Over the period under review, the export price showed a deep downturn. The pace of growth was the most pronounced in 2019 when the average export price increased by 10%. Over the period under review, the average export prices attained the peak figure at $X per ton in 2016; however, from 2017 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 -6.8% per year.

Imports of Medicaments Containing Insulin But Not Antibiotics In Measured Doses

Imports into Cuba

In 2021, imports of medicaments containing insulin but not antibiotics in measured doses into Cuba soared to X tons, jumping by 20% compared with the previous year's figure. Over the period under review, imports enjoyed a significant increase. The most prominent rate of growth was recorded in 2013 when imports increased by 3,296%. Imports peaked in 2021 and are expected to retain growth in the immediate term.

In value terms, prophylactic medicaments containing insulin imports expanded markedly to $X in 2021. Overall, imports enjoyed a significant expansion. The pace of growth appeared the most rapid in 2013 with an increase of 2,182% against the previous year. Over the period under review, imports attained the maximum in 2021 and are expected to retain growth in years to come.

Imports by Country

In 2021, Panama (X tons) was the main prophylactic medicaments containing insulin supplier to Cuba, accounting for a 96% share of total imports. It was followed by India (X kg), with a 2% share of total imports.

From 2012 to 2021, the average annual growth rate of volume from Panama stood at +91.8%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+26.2% per year) and the Netherlands (0.0% per year).

In value terms, Panama ($X) constituted the largest supplier of medicaments containing insulin but not antibiotics in measured doses to Cuba, comprising 98% of total imports. The second position in the ranking was taken by India ($X), with a 1.5% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of value from Panama amounted to +74.9%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+42.9% per year) and the Netherlands (0.0% per year).

Import Prices by Country

The average prophylactic medicaments containing insulin import price stood at $X per ton in 2021, falling by -7.8% against the previous year. Overall, the import price recorded a noticeable setback. The most prominent rate of growth was recorded in 2016 an increase of 27% against the previous year. As a result, import price attained the peak level of $X per ton. From 2017 to 2021, the average import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by India (+13.3%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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