Dominican Republic: Antibiotic Market 2024

Antibiotic Market Size in the Dominican Republic

The Dominican antibiotic market dropped slightly to $X in 2021, reducing by -3.7% 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). Over the period under review, the total consumption indicated a remarkable increase from 2012 to 2021: its value increased at an average annual rate of +7.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +72.2% against 2016 indices. Antibiotic consumption peaked at $X in 2020, and then reduced slightly in the following year.

Antibiotic Exports

Exports from the Dominican Republic

In 2021, the amount of antibiotics exported from the Dominican Republic rose significantly to X kg, increasing by 6.7% on 2020. In general, exports, however, showed a deep setback. The pace of growth appeared the most rapid in 2019 when exports increased by 299%. Over the period under review, the exports hit record highs at X tons in 2013; however, from 2014 to 2021, the exports remained at a lower figure.

In value terms, antibiotic exports contracted to $X in 2021. Overall, exports, however, showed a abrupt decrease. The growth pace was the most rapid in 2019 when exports increased by 134% against the previous year. Over the period under review, the exports attained the maximum at $X in 2013; however, from 2014 to 2021, the exports remained at a lower figure.

Exports by Country

Guatemala (X tons) was the main destination for antibiotic exports from the Dominican Republic, accounting for a 111% share of total exports. Moreover, antibiotic exports to Guatemala exceeded the volume sent to the second major destination, Costa Rica (X kg), threefold. Venezuela (X kg) ranked third in terms of total exports with an 18% share.

From 2012 to 2021, the average annual growth rate of volume to Guatemala stood at +20.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Costa Rica (+25.5% per year) and Venezuela (+4,000.0% per year).

In value terms, the largest markets for antibiotic exported from the Dominican Republic were Guatemala ($X), Costa Rica ($X) and Argentina ($X), with a combined 76% share of total exports. These countries were followed by Colombia, Venezuela and Haiti, which together accounted for a further 13%.

In terms of the main countries of destination, Venezuela, with a CAGR of +1,810.3%, 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 2021, the average antibiotic export price amounted to $X per ton, shrinking by -16.1% against the previous year. Overall, the export price, however, posted a moderate increase. The pace of growth appeared the most rapid in 2020 when the average export price increased by 119%. As a result, the export price reached the peak level of $X per ton, and then plummeted in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Colombia ($X per ton), while the average price for exports to Haiti ($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 Haiti (+1.7%), while the prices for the other major destinations experienced a decline.

Antibiotic Imports

Imports into the Dominican Republic

In 2021, after two years of growth, there was significant decline in overseas purchases of antibiotics, when their volume decreased by -13% to X tons. Over the period under review, total imports indicated strong growth from 2012 to 2021: its volume increased at an average annual rate of +6.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by +0.3% against 2017 indices. The most prominent rate of growth was recorded in 2017 with an increase of 81% against the previous year. Imports peaked at X tons in 2020, and then reduced in the following year.

In value terms, antibiotic imports expanded sharply to $X in 2021. In general, total imports indicated a resilient expansion from 2012 to 2021: its value increased at an average annual rate of +7.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +62.1% against 2015 indices. The most prominent rate of growth was recorded in 2014 with an increase of 23% against the previous year. Over the period under review, imports hit record highs in 2021 and are likely to see steady growth in years to come.

Imports by Country

Guatemala (X tons), China (X tons) and India (X tons) were the main suppliers of antibiotic imports to the Dominican Republic.

From 2012 to 2021, the biggest increases were recorded for Guatemala (with a CAGR of +37.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest antibiotic suppliers to the Dominican Republic were China ($X), Guatemala ($X) and India ($X), with a combined 95% share of total imports.

Guatemala, with a CAGR of +26.5%, saw 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 antibiotic import price stood at $X per ton in 2021, with an increase of 27% against the previous year. Over the last nine-year period, it increased at an average annual rate of +1.0%. The growth pace was the most rapid in 2016 an increase of 41%. As a result, import price reached the peak level of $X per ton. From 2017 to 2021, the average import prices remained at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+2.0%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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