Dominican Republic: Medical Gel Preparations Market 2024

Medical Gel Preparations Market Size in the Dominican Republic

The Dominican medical gel preparations market skyrocketed to $X in 2022, increasing by 29% 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). In general, consumption posted a buoyant expansion. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Medical Gel Preparations Exports

Exports from the Dominican Republic

In 2022, overseas shipments of gel preparations for human or veterinary medicine decreased by -48.7% to X kg for the first time since 2017, thus ending a four-year rising trend. In general, exports saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2016 when exports increased by 1,750% against the previous year. Over the period under review, the exports attained the peak figure at X kg in 2021, and then contracted rapidly in the following year.

In value terms, medical gel preparations exports shrank notably to $X in 2022. Overall, exports, however, showed a prominent expansion. The most prominent rate of growth was recorded in 2016 when exports increased by 1,070% against the previous year. Over the period under review, the exports hit record highs at $X in 2021, and then shrank markedly in the following year.

Exports by Country

The United States (X kg) was the main destination for medical gel preparations exports from the Dominican Republic, with a 94% share of total exports. It was followed by the Netherlands (X kg), with a 3.1% share of total exports.

From 2012 to 2022, the average annual growth rate of volume to the United States amounted to +72.7%.

In value terms, the United States ($X) remains the key foreign market for gel preparations for human or veterinary medicine exports from the Dominican Republic, comprising 91% of total exports. The second position in the ranking was held by the Netherlands ($X), with a 0.4% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States stood at +70.9%.

Export Prices by Country

The average medical gel preparations export price stood at $X per ton in 2022, almost unchanged from the previous year. Over the period under review, the export price continues to indicate buoyant growth. The growth pace was the most rapid in 2015 when the average export price increased by 868%. The export price peaked at $X per ton in 2018; however, from 2019 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to the Netherlands amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United States (-1.1%).

Medical Gel Preparations Imports

Imports into the Dominican Republic

Medical gel preparations imports into the Dominican Republic surged to X tons in 2022, with an increase of 36% compared with the previous year's figure. Over the period under review, total imports indicated a prominent expansion from 2012 to 2022: its volume increased at an average annual rate of +5.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, medical gel preparations imports surged to $X in 2022. In general, imports enjoyed a buoyant increase. The pace of growth appeared the most rapid in 2017 with an increase of 32% against the previous year. Imports peaked in 2022 and are expected to retain growth in the immediate term.

Imports by Country

In 2022, the United States (X tons) constituted the largest medical gel preparations supplier to the Dominican Republic, accounting for a 67% share of total imports. Moreover, medical gel preparations imports from the United States exceeded the figures recorded by the second-largest supplier, China (X tons), fivefold. India (X tons) ranked third in terms of total imports with a 10% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from the United States totaled +3.4%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+18.4% per year) and India (+54.2% per year).

In value terms, the United States ($X) constituted the largest supplier of gel preparations for human or veterinary medicine to the Dominican Republic, comprising 80% of total imports. The second position in the ranking was taken by India ($X), with a 7.2% share of total imports. It was followed by China, with a 6.3% share.

From 2012 to 2022, the average annual growth rate of value from the United States stood at +10.5%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+36.2% per year) and China (+19.4% per year).

Import Prices by Country

The average medical gel preparations import price stood at $X per ton in 2022, falling by -6.9% against the previous year. In general, import price indicated strong growth from 2012 to 2022: its price increased at an average annual rate of +6.0% 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 decreased by -1.1% against 2017 indices. The most prominent rate of growth was recorded in 2017 an increase of 52% against the previous year. Over the period under review, average import prices attained the maximum at $X per ton in 2021, and then dropped in the following year.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+6.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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