ECOWAS: Market for Other Medicaments For Therapeutic Or Prophylactic Uses 2024

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

The ECOWAS market for other medicaments for therapeutic or prophylactic uses stood at $X in 2022, approximately mirroring the previous year. In general, consumption saw a strong increase. As a result, consumption attained the peak level of $X. From 2017 to 2022, the growth of the market failed to regain momentum.

Production of Other Medicaments For Therapeutic Or Prophylactic Uses in ECOWAS

In value terms, production of other medicaments for therapeutic or prophylactic uses dropped modestly to $X in 2022 estimated in export price. The total production indicated a resilient increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by X% against 2019 indices. The pace of growth appeared the most rapid in 2015 when the production volume increased by X%. The level of production peaked at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Exports of Other Medicaments For Therapeutic Or Prophylactic Uses

Exports in ECOWAS

In 2022, overseas shipments of other medicaments for therapeutic or prophylactic uses increased by X% to X tons, rising for the second consecutive year after three years of decline. Over the period under review, exports posted modest growth. The most prominent rate of growth was recorded in 2016 with an increase of X% against the previous year. The volume of export peaked at X tons in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

In value terms, exports of other medicaments for therapeutic or prophylactic uses shrank markedly to $X in 2022. Overall, exports, however, continue to indicate a deep setback. The most prominent rate of growth was recorded in 2021 with an increase of X%. Over the period under review, the exports of attained the peak figure at $X in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

Exports by Country

Nigeria represented the main exporter of other medicaments for therapeutic or prophylactic uses in ECOWAS, with the volume of exports reaching X tons, which was approx. X% of total exports in 2022. It was distantly followed by Togo (X tons), generating a X% share of total exports.

From 2012 to 2022, average annual rates of growth with regard to other medicaments for therapeutic or prophylactic uses exports from Nigeria stood at X%. At the same time, Togo (X%) displayed positive paces of growth. Moreover, Togo emerged as the fastest-growing exporter exported in ECOWAS, with a CAGR of X% from 2012-2022. From 2012 to 2022, the share of Nigeria and Togo increased by X and X percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Togo ($X) and Nigeria ($X) constituted the countries with the highest levels of exports in 2022.

Togo, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, among the main exporting countries over the period under review.

Export Prices by Country

The export price in ECOWAS stood at $X per ton in 2022, with a decrease of X% against the previous year. Over the period under review, the export price showed a deep contraction. The most prominent rate of growth was recorded in 2018 an increase of X%. The level of export peaked at $X per ton in 2013; however, from 2014 to 2022, the export prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Togo (X%).

Imports of Other Medicaments For Therapeutic Or Prophylactic Uses

Imports in ECOWAS

In 2022, approx. X tons of other medicaments for therapeutic or prophylactic uses were imported in ECOWAS; picking up by X% on 2021. Overall, imports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when imports increased by X%. As a result, imports reached the peak of X tons. From 2018 to 2022, the growth of imports of remained at a somewhat lower figure.

In value terms, imports of other medicaments for therapeutic or prophylactic uses skyrocketed to $X in 2022. In general, imports, however, saw a relatively flat trend pattern. Over the period under review, imports of hit record highs at $X in 2017; however, from 2018 to 2022, imports failed to regain momentum.

Imports by Country

Nigeria was the key importer of other medicaments for therapeutic or prophylactic uses in ECOWAS, with the volume of imports reaching X tons, which was approx. X% of total imports in 2022. It was distantly followed by Ghana (X tons), Benin (X tons) and Togo (X tons), together making up a X% share of total imports. Guinea (X tons) followed a long way behind the leaders.

Nigeria was also the fastest-growing in terms of the other medicaments for therapeutic or prophylactic uses imports, with a CAGR of X% from 2012 to 2022. At the same time, Benin (X%) displayed positive paces of growth. By contrast, Ghana (X%), Togo (X%) and Guinea (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Nigeria and Togo increased by X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X) constitutes the largest market for imported other medicaments for therapeutic or prophylactic uses in ECOWAS, comprising X% of total imports. The second position in the ranking was taken by Ghana ($X), with a X% share of total imports. It was followed by Guinea, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Nigeria stood at X%. The remaining importing countries recorded the following average annual rates of imports growth: Ghana (X% per year) and Guinea (X% per year).

Import Prices by Country

The import price in ECOWAS stood at $X per ton in 2022, picking up by X% against the previous year. Over the period under review, the import price, however, saw a relatively flat trend pattern. Over the period under review, import prices attained the maximum at $X per ton in 2016; however, from 2017 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Guinea ($X per ton), while Benin ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Togo (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform