ECOWAS: Medicaments Containing Penicillin Market 2024

Medicaments Containing Penicillin Market Size in ECOWAS

The ECOWAS medicaments containing penicillin market was finally on the rise to reach $X in 2021, after two years of decline. In general, consumption showed a resilient expansion. As a result, consumption attained the peak level of $X. From 2019 to 2021, the growth of the market remained at a somewhat lower figure.

Medicaments Containing Penicillin Production in ECOWAS

In value terms, medicaments containing penicillin production rose significantly to $X in 2021 estimated in export price. Over the period under review, production showed a strong expansion. The most prominent rate of growth was recorded in 2018 when the production volume increased by 114% against the previous year. As a result, production reached the peak level of $X. From 2019 to 2021, production growth remained at a lower figure.

Medicaments Containing Penicillin Exports

Exports in ECOWAS

In 2021, after three years of decline, there was growth in overseas shipments of medicaments containing penicillins or derivatives thereof, when their volume increased by 2.4% to X tons. Over the period under review, exports, however, continue to indicate a perceptible reduction. The pace of growth appeared the most rapid in 2017 when exports increased by 206%. The volume of export peaked at X tons in 2013; however, from 2014 to 2021, the exports failed to regain momentum.

In value terms, medicaments containing penicillin exports amounted to $X in 2021. In general, exports, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2013 when exports increased by 151%. As a result, the exports reached the peak of $X. From 2014 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

Niger (X tons) and Senegal (X tons) prevails in exports structure, together achieving 97% of total exports. Nigeria (X kg) followed a long way behind the leaders.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Senegal (with a CAGR of +24.0%), while the other leaders experienced mixed trends in the exports figures.

In value terms, Niger ($X), Senegal ($X) and Nigeria ($X) were the countries with the highest levels of exports in 2021, together accounting for 100% of total exports.

Senegal, with a CAGR of +51.9%, saw the highest rates of growth with regard to the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

In 2021, the export price in ECOWAS amounted to $X per ton, with an increase of 2.5% against the previous year. Export price indicated a noticeable increase from 2012 to 2021: its price increased at an average annual rate of +3.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, medicaments containing penicillin export price increased by +120.1% against 2017 indices. The most prominent rate of growth was recorded in 2018 an increase of 91%. The level of export peaked in 2021 and is likely to see steady growth in years to come.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Nigeria ($X per ton), while Senegal ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Senegal (+22.5%), while the other leaders experienced more modest paces of growth.

Medicaments Containing Penicillin Imports

Imports in ECOWAS

In 2021, supplies from abroad of medicaments containing penicillins or derivatives thereof increased by 16% to X tons, rising for the second consecutive year after two years of decline. In general, imports saw a significant expansion. The pace of growth was the most pronounced in 2020 with an increase of 132%. Over the period under review, imports hit record highs in 2021 and are expected to retain growth in the near future.

In value terms, medicaments containing penicillin imports soared to $X in 2021. Overall, imports saw a resilient increase. The most prominent rate of growth was recorded in 2020 when imports increased by 144% against the previous year. Over the period under review, imports reached the maximum in 2021 and are likely to continue growth in years to come.

Imports by Country

Nigeria represented the key importing country with an import of about X tons, which finished at 74% of total imports. Gambia (X tons) took the second position in the ranking, followed by Liberia (X tons). All these countries together held approx. 23% share of total imports.

Nigeria was also the fastest-growing in terms of the medicaments containing penicillins or derivatives thereof imports, with a CAGR of +33.1% from 2012 to 2021. At the same time, Gambia (+21.3%) and Liberia (+8.0%) displayed positive paces of growth. Nigeria (+40 p.p.) significantly strengthened its position in terms of the total imports, while Liberia saw its share reduced by -20.7% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X) constitutes the largest market for imported medicaments containing penicillins or derivatives thereof in ECOWAS, comprising 54% of total imports. The second position in the ranking was taken by Gambia ($X), with a 24% share of total imports.

From 2012 to 2021, the average annual growth rate of value in Nigeria totaled +56.8%. In the other countries, the average annual rates were as follows: Gambia (+10.0% per year) and Liberia (+2.3% per year).

Import Prices by Country

In 2021, the import price in ECOWAS amounted to $X per ton, surging by 26% against the previous year. Over the period under review, the import price, however, showed a perceptible contraction. The most prominent rate of growth was recorded in 2019 when the import price increased by 32%. The level of import peaked at $X per ton in 2013; however, from 2014 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Gambia ($X per ton), while Liberia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Nigeria (+17.8%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform