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

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

The Cuban market for other medicaments for therapeutic or prophylactic uses amounted to $X in 2021, increasing by 2.8% against the previous year. In general, the total consumption indicated prominent growth from 2012 to 2021: its value increased at an average annual rate of +5.0% 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 -0.8% against 2019 indices. Over the period under review, the market attained the maximum level at $X in 2019; however, from 2020 to 2021, consumption stood at a somewhat lower figure.

Production of Other Medicaments For Therapeutic Or Prophylactic Uses in Cuba

In value terms, production of other medicaments for therapeutic or prophylactic uses totaled $X in 2021 estimated in export price. The total output value increased at an average annual rate of +4.7% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2017 when the production volume increased by 37% against the previous year. Over the period under review, production of hit record highs at $X in 2019; however, from 2020 to 2021, production remained at a lower figure.

Exports of Other Medicaments For Therapeutic Or Prophylactic Uses

Exports from Cuba

In 2021, overseas shipments of other medicaments for therapeutic or prophylactic uses increased by 84% to X tons, rising for the second consecutive year after two years of decline. In general, exports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with an increase of 278%. Over the period under review, the exports of reached the peak figure at X tons in 2015; however, from 2016 to 2021, the exports failed to regain momentum.

In value terms, exports of other medicaments for therapeutic or prophylactic uses surged to $X in 2021. Overall, exports, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 when exports increased by 452% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

China (X tons) was the main destination for exports of other medicaments for therapeutic or prophylactic uses from Cuba, accounting for a 92% share of total exports. Moreover, exports of other medicaments for therapeutic or prophylactic uses to China exceeded the volume sent to the second major destination, Tunisia (X kg), more than tenfold.

From 2012 to 2021, the average annual growth rate of volume to China stood at +12.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Tunisia (-24.3% per year) and El Salvador (-1.2% per year).

In value terms, China ($X) remains the key foreign market for other medicaments for therapeutic or prophylactic uses exports from Cuba, comprising 88% of total exports. The second position in the ranking was taken by Tunisia ($X), with a 1% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to China amounted to +2.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Tunisia (-32.6% per year) and El Salvador (-5.2% per year).

Export Prices by Country

In 2021, the average export price for other medicaments for therapeutic or prophylactic uses amounted to $X per ton, standing approx. at the previous year. Overall, the export price, however, continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2019 an increase of 49%. The export price peaked at $X per ton in 2013; however, from 2014 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major export markets. In 2021, the country with the highest price was China ($X per ton), while the average price for exports to El Salvador ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to El Salvador (-4.0%), while the prices for the other major destinations experienced a decline.

Imports of Other Medicaments For Therapeutic Or Prophylactic Uses

Imports into Cuba

In 2021, approx. X tons of other medicaments for therapeutic or prophylactic uses were imported into Cuba; with an increase of 84% compared with the previous year's figure. Overall, imports recorded a strong expansion. The pace of growth appeared the most rapid in 2018 with an increase of 422%. Imports peaked in 2021 and are expected to retain growth in the near future.

In value terms, imports of other medicaments for therapeutic or prophylactic uses skyrocketed to $X in 2021. Over the period under review, imports saw a prominent expansion. The growth pace was the most rapid in 2018 with an increase of 601%. Over the period under review, imports of hit record highs in 2021 and are likely to see steady growth in years to come.

Imports by Country

In 2021, China (X tons) constituted the largest other medicaments for therapeutic or prophylactic uses supplier to Cuba, with a 25% share of total imports. Moreover, imports of other medicaments for therapeutic or prophylactic uses from China exceeded the figures recorded by the second-largest supplier, Spain (X tons), fivefold. The third position in this ranking was held by Switzerland (X tons), with a 4.1% share.

From 2012 to 2021, the average annual growth rate of volume from China totaled -9.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (+41.8% per year) and Switzerland (+83.2% per year).

In value terms, China ($X) constituted the largest supplier of other medicaments for therapeutic or prophylactic uses to Cuba, comprising 52% of total imports. The second position in the ranking was held by Italy ($X), with a 4.7% share of total imports. It was followed by Spain, with a 2.8% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China amounted to +13.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+20.6% per year) and Spain (-4.8% per year).

Import Prices by Country

In 2021, the average import price for other medicaments for therapeutic or prophylactic uses amounted to $X per ton, falling by -28.2% against the previous year. Over the period under review, the import price, however, enjoyed resilient growth. The most prominent rate of growth was recorded in 2013 when the average import price increased by 211% against the previous year. Over the period under review, average import prices reached the maximum at $X per ton in 2016; however, from 2017 to 2021, import prices failed to regain momentum.

Prices varied noticeably country of origin: the country with the highest price was China ($X per ton), while the price for South Africa ($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 (+25.3%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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