Ecuador: Syringe Market 2024

Syringe Market Size in Ecuador

The Ecuadorian syringe market contracted rapidly to $X in 2022, which is down by -25.4% 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). Overall, the total consumption indicated a buoyant expansion from 2012 to 2022: its value increased at an average annual rate of +5.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +51.5% against 2020 indices. As a result, consumption attained the peak level of $X, and then reduced sharply in the following year.

Syringe Exports

Exports from Ecuador

Syringe exports from Ecuador was estimated at X units in 2022, picking up by 3.3% against 2021. In general, exports, however, saw a deep reduction. The pace of growth appeared the most rapid in 2015 with an increase of 51%. The exports peaked at X units in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, syringe exports rose notably to $X in 2022. Over the period under review, exports showed prominent growth. The pace of growth appeared the most rapid in 2020 when exports increased by 42% against the previous year. As a result, the exports attained the peak of $X. From 2021 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Sudan (X units) was the main destination for syringe exports from Ecuador, with a 92% share of total exports. Moreover, syringe exports to Sudan exceeded the volume sent to the second major destination, Chile (X units), more than tenfold. Colombia (X units) ranked third in terms of total exports with a 2.3% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Sudan stood at -4.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Chile (-27.2% per year) and Colombia (-29.8% per year).

In value terms, the largest markets for syringe exported from Ecuador were Guatemala ($X), Colombia ($X) and Sudan ($X), with a combined 60% share of total exports.

Guatemala, with a CAGR of +192.0%, saw the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

The average syringe export price stood at $X per unit in 2022, growing by 5.2% against the previous year. Overall, the export price showed a significant increase. The growth pace was the most rapid in 2014 an increase of 114%. The export price peaked at $X per unit in 2020; however, from 2021 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Guatemala ($X per unit), while the average price for exports to Chile (less than $X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Colombia (+49.3%), while the prices for the other major destinations experienced mixed trend patterns.

Syringe Imports

Imports into Ecuador

In 2022, approx. X units of syringes, with or without needles were imported into Ecuador; waning by -29.2% against the year before. Overall, imports, however, saw a buoyant increase. The most prominent rate of growth was recorded in 2021 when imports increased by 140% against the previous year. As a result, imports attained the peak of X units, and then fell dramatically in the following year.

In value terms, syringe imports dropped notably to $X in 2022. Over the period under review, total imports indicated prominent growth from 2012 to 2022: its value increased at an average annual rate of +5.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +48.8% against 2020 indices. The growth pace was the most rapid in 2021 when imports increased by 98%. As a result, imports reached the peak of $X, and then shrank markedly in the following year.

Imports by Country

In 2022, China (X units) constituted the largest syringe supplier to Ecuador, accounting for a 84% share of total imports. Moreover, syringe imports from China exceeded the figures recorded by the second-largest supplier, the United States (X units), more than tenfold.

From 2012 to 2022, the average annual growth rate of volume from China amounted to +8.1%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-2.0% per year) and the United Arab Emirates (+1.0% per year).

In value terms, China ($X) constituted the largest supplier of syringes, with or without needles to Ecuador, comprising 47% of total imports. The second position in the ranking was held by the United States ($X), with a 22% share of total imports.

From 2012 to 2022, the average annual growth rate of value from China stood at +4.1%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+12.0% per year) and the United Arab Emirates (-3.6% per year).

Import Prices by Country

In 2022, the average syringe import price amounted to $X per thousand units, increasing by 6.3% against the previous year. Overall, the import price, however, saw a slight descent. The growth pace was the most rapid in 2020 an increase of 21%. The import price peaked at $X per thousand units in 2014; however, from 2015 to 2022, import prices stood at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+14.3%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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