GCC: Medical Gel Preparations Market 2024

Medical Gel Preparations Market Size in GCC

After four years of growth, the GCC medical gel preparations market decreased by -2.5% to $X in 2022. The total consumption indicated a tangible increase from 2012 to 2022: its value increased at an average annual rate of +3.1% 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 +6.1% against 2016 indices. Over the period under review, the market attained the peak level at $X in 2021, and then contracted in the following year.

Medical Gel Preparations Production in GCC

In value terms, medical gel preparations production stood at $X in 2022 estimated in export price. Overall, production saw a slight expansion. The pace of growth appeared the most rapid in 2016 when the production volume increased by 146%. As a result, production attained the peak level of $X. From 2017 to 2022, production growth remained at a lower figure.

Medical Gel Preparations Exports

Exports in GCC

In 2022, the amount of gel preparations for human or veterinary medicine exported in GCC contracted remarkably to X tons, shrinking by -29.7% on 2021 figures. Overall, exports recorded a abrupt downturn. The growth pace was the most rapid in 2015 with an increase of 1,166% against the previous year. As a result, the exports reached the peak of X tons. From 2016 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, medical gel preparations exports shrank to $X in 2022. In general, exports showed a abrupt contraction. The pace of growth was the most pronounced in 2015 with an increase of 3,278% against the previous year. As a result, the exports reached the peak of $X. From 2016 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

The United Arab Emirates dominates exports structure, reaching X tons, which was near 97% of total exports in 2022. Kuwait (X kg) held a little share of total exports.

From 2012 to 2022, average annual rates of growth with regard to medical gel preparations exports from the United Arab Emirates stood at -10.0%. At the same time, Kuwait (+36.2%) displayed positive paces of growth. Moreover, Kuwait emerged as the fastest-growing exporter exported in GCC, with a CAGR of +36.2% from 2012-2022. From 2012 to 2022, the share of Kuwait increased by +1.9 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) remains the largest medical gel preparations supplier in GCC, comprising 95% of total exports. The second position in the ranking was held by Kuwait ($X), with a 3.7% share of total exports.

In the United Arab Emirates, medical gel preparations exports plunged by an average annual rate of -6.9% over the period from 2012-2022.

Export Prices by Country

The export price in GCC stood at $X per ton in 2022, jumping by 31% against the previous year. Overall, the export price continues to indicate a notable increase. The most prominent rate of growth was recorded in 2015 an increase of 167%. As a result, the export price reached the peak level of $X per ton. From 2016 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Kuwait ($X per ton), while the United Arab Emirates totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+3.5%).

Medical Gel Preparations Imports

Imports in GCC

In 2022, approx. X tons of gel preparations for human or veterinary medicine were imported in GCC; waning by -11.3% on the previous year. Overall, imports, however, saw a resilient increase. The pace of growth was the most pronounced in 2019 when imports increased by 157%. Over the period under review, imports attained the maximum at X tons in 2021, and then shrank in the following year.

In value terms, medical gel preparations imports fell rapidly to $X in 2022. In general, imports, however, saw a prominent increase. The growth pace was the most rapid in 2019 with an increase of 335% against the previous year. The level of import peaked at $X in 2021, and then contracted markedly in the following year.

Imports by Country

The United Arab Emirates represented the largest importing country with an import of about X tons, which accounted for 55% of total imports. It was distantly followed by Saudi Arabia (X tons), Kuwait (X tons) and Oman (X tons), together committing a 39% share of total imports. The following importers - Bahrain (X tons) and Qatar (X tons) - together made up 5.9% of total imports.

Imports into the United Arab Emirates increased at an average annual rate of +14.3% from 2012 to 2022. At the same time, Bahrain (+15.5%) and Kuwait (+11.8%) displayed positive paces of growth. Moreover, Bahrain emerged as the fastest-growing importer imported in GCC, with a CAGR of +15.5% from 2012-2022. Saudi Arabia experienced a relatively flat trend pattern. By contrast, Oman (-3.1%) and Qatar (-8.6%) illustrated a downward trend over the same period. The United Arab Emirates (+29 p.p.), Kuwait (+3.9 p.p.) and Bahrain (+2.3 p.p.) significantly strengthened its position in terms of the total imports, while Qatar, Oman and Saudi Arabia saw its share reduced by -6.6%, -6.7% and -22% from 2012 to 2022, respectively.

In value terms, the largest medical gel preparations importing markets in GCC were Saudi Arabia ($X), the United Arab Emirates ($X) and Kuwait ($X), with a combined 94% share of total imports.

In terms of the main importing countries, the United Arab Emirates, with a CAGR of +17.8%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in GCC stood at $X per ton in 2022, with a decrease of -16.9% against the previous year. In general, the import price, however, saw a strong increase. The pace of growth appeared the most rapid in 2019 when the import price increased by 69%. Over the period under review, import prices reached the maximum at $X per ton in 2021, and then dropped dramatically in the following year.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Saudi Arabia (+14.8%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform