GCC: Medicaments Containing Penicillin Market 2024

Medicaments Containing Penicillin Market Size in GCC

The GCC medicaments containing penicillin market rose remarkably to $X in 2021, surging by 11% against the previous year. In general, consumption posted buoyant growth. The level of consumption peaked at $X in 2019; however, from 2020 to 2021, consumption remained at a lower figure.

Medicaments Containing Penicillin Production in GCC

In value terms, medicaments containing penicillin production soared to $X in 2021 estimated in export price. Overall, production recorded a significant increase. The pace of growth appeared the most rapid in 2018 with an increase of 198%. Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2021, production failed to regain momentum.

Medicaments Containing Penicillin Exports

Exports in GCC

In 2021, overseas shipments of medicaments containing penicillins or derivatives thereof increased by 108% to X tons, rising for the second year in a row after four years of decline. Overall, exports enjoyed prominent growth. The growth pace was the most rapid in 2020 with an increase of 226% against the previous year. The volume of export peaked at X tons in 2015; however, from 2016 to 2021, the exports remained at a lower figure.

In value terms, medicaments containing penicillin exports soared to $X in 2021. Over the period under review, exports continue to indicate a prominent increase. The most prominent rate of growth was recorded in 2020 when exports increased by 180% against the previous year. Over the period under review, the exports hit record highs in 2021 and are expected to retain growth in years to come.

Exports by Country

Saudi Arabia dominates exports structure, amounting to X tons, which was near 93% of total exports in 2021. It was distantly followed by Kuwait (X tons), creating a 6.1% share of total exports.

From 2012 to 2021, average annual rates of growth with regard to medicaments containing penicillin exports from Saudi Arabia stood at +13.5%. At the same time, Kuwait (+24.2%) displayed positive paces of growth. Moreover, Kuwait emerged as the fastest-growing exporter exported in GCC, with a CAGR of +24.2% from 2012-2021. Saudi Arabia (+37 p.p.) and Kuwait (+4.4 p.p.) significantly strengthened its position in terms of the total exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Saudi Arabia ($X) remains the largest medicaments containing penicillin supplier in GCC, comprising 97% of total exports. The second position in the ranking was held by Kuwait ($X), with a 1.8% share of total exports.

From 2012 to 2021, the average annual growth rate of value in Saudi Arabia stood at +10.1%.

Export Prices by Country

The export price in GCC stood at $X per ton in 2021, increasing by 33% against the previous year. In general, the export price, however, showed a noticeable decrease. The growth pace was the most rapid in 2016 when the export price increased by 62% against the previous year. The level of export peaked at $X per ton in 2012; however, from 2013 to 2021, 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 Saudi Arabia ($X per ton), while Kuwait amounted to $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Saudi Arabia (-3.0%).

Medicaments Containing Penicillin Imports

Imports in GCC

After two years of growth, overseas purchases of medicaments containing penicillins or derivatives thereof decreased by -40.3% to X tons in 2021. Overall, imports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when imports increased by 708%. As a result, imports reached the peak of X tons, and then contracted notably in the following year.

In value terms, medicaments containing penicillin imports shrank notably to $X in 2021. In general, imports recorded a abrupt descent. The most prominent rate of growth was recorded in 2020 with an increase of 443%. Over the period under review, imports attained the peak figure at $X in 2015; however, from 2016 to 2021, imports failed to regain momentum.

Imports by Country

Saudi Arabia represented the largest importing country with an import of around X tons, which amounted to 56% of total imports. The United Arab Emirates (X tons) took a 23% share (based on physical terms) of total imports, which put it in second place, followed by Oman (14%). Kuwait (X tons) and Bahrain (X tons) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to medicaments containing penicillin imports into Saudi Arabia stood at -3.9%. At the same time, the United Arab Emirates (+31.3%), Bahrain (+24.5%), Kuwait (+14.1%) and Oman (+2.7%) displayed positive paces of growth. Moreover, the United Arab Emirates emerged as the fastest-growing importer imported in GCC, with a CAGR of +31.3% from 2012-2021. The United Arab Emirates (+21 p.p.), Kuwait (+2.8 p.p.), Bahrain (+2.6 p.p.) and Oman (+2.3 p.p.) significantly strengthened its position in terms of the total imports, while Saudi Arabia saw its share reduced by -28.4% from 2012 to 2021, respectively.

In value terms, Saudi Arabia ($X), the United Arab Emirates ($X) and Kuwait ($X) appeared to be the countries with the highest levels of imports in 2021, with a combined 88% share of total imports. These countries were followed by Oman and Bahrain, which together accounted for a further 11%.

Among the main importing countries, Bahrain, with a CAGR of +42.0%, saw the highest growth rate of 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

In 2021, the import price in GCC amounted to $X per ton, with an increase of 29% against the previous year. In general, the import price, however, saw a deep contraction. The most prominent rate of growth was recorded in 2015 when the import price increased by 46%. As a result, import price reached the peak level of $X per ton. From 2016 to 2021, the import prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Kuwait ($X per ton), while Oman ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Bahrain (+14.0%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform