GCC: Market for Medicaments Of Penicillins, Streptomycins Or Derivatives Thereof 2024

Market Size for Medicaments Of Penicillins, Streptomycins Or Derivatives Thereof in GCC

The GCC penicillins or streptomycins medicaments market contracted sharply to $X in 2022, which is down by -56.8% against the previous year. Over the period under review, consumption saw a abrupt decrease. Over the period under review, the market attained the peak level at $X in 2015; however, from 2016 to 2022, consumption failed to regain momentum.

Production of Medicaments Of Penicillins, Streptomycins Or Derivatives Thereof in GCC

In value terms, penicillins or streptomycins medicaments production contracted to $X in 2022 estimated in export price. In general, production, however, posted a significant expansion. The most prominent rate of growth was recorded in 2017 with an increase of 231% against the previous year. Over the period under review, production reached the maximum level at $X in 2018; however, from 2019 to 2022, production remained at a lower figure.

Exports of Medicaments Of Penicillins, Streptomycins Or Derivatives Thereof

Exports in GCC

In 2022, approx. X tons of medicaments of penicillins, streptomycins or derivatives thereof were exported in GCC; growing by 8.9% on the year before. Overall, exports recorded a noticeable increase. The most prominent rate of growth was recorded in 2018 with an increase of 204%. As a result, the exports reached the peak of X tons. From 2019 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, penicillins or streptomycins medicaments exports expanded notably to $X in 2022. In general, exports, however, recorded a pronounced descent. The most prominent rate of growth was recorded in 2020 with an increase of 105% against the previous year. The level of export peaked at $X in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Saudi Arabia (X tons) and the United Arab Emirates (X tons) prevails in exports structure, together constituting 98% of total exports. Kuwait (X tons) held a minor share of total exports.

From 2012 to 2022, the biggest increases were recorded for Kuwait (with a CAGR of +14.5%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Saudi Arabia ($X), the United Arab Emirates ($X) and Kuwait ($X) appeared to be the countries with the highest levels of exports in 2022, together comprising 100% of total exports.

Kuwait, with a CAGR of +15.1%, recorded the highest growth rate of the value of exports, among 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

The export price in GCC stood at $X per ton in 2022, reducing by -3.3% against the previous year. In general, the export price continues to indicate a deep reduction. The growth pace was the most rapid in 2020 when the export price increased by 54%. The level of export peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

Average prices varied somewhat amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Saudi Arabia ($X per ton), while the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Kuwait (+0.5%), while the other leaders experienced a decline in the export price figures.

Imports of Medicaments Of Penicillins, Streptomycins Or Derivatives Thereof

Imports in GCC

In 2022, supplies from abroad of medicaments of penicillins, streptomycins or derivatives thereof decreased by -72.6% to X tons, falling for the second year in a row after two years of growth. Overall, imports saw a abrupt decrease. The most prominent rate of growth was recorded in 2019 with an increase of 31% against the previous year. The volume of import peaked at X tons in 2015; however, from 2016 to 2022, imports remained at a lower figure.

In value terms, penicillins or streptomycins medicaments imports contracted rapidly to $X in 2022. In general, imports showed a sharp downturn. The most prominent rate of growth was recorded in 2015 when imports increased by 35% against the previous year. As a result, imports attained the peak of $X. From 2016 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

The United Arab Emirates represented the key importer of medicaments of penicillins, streptomycins or derivatives thereof in GCC, with the volume of imports finishing at X tons, which was approx. 60% of total imports in 2022. It was distantly followed by Kuwait (X tons), Oman (X tons) and Qatar (X tons), together making up a 38% share of total imports. Bahrain (X tons) held a relatively small share of total imports.

From 2012 to 2022, average annual rates of growth with regard to penicillins or streptomycins medicaments imports into the United Arab Emirates stood at +5.0%. At the same time, Kuwait (+11.9%) and Bahrain (+1.2%) displayed positive paces of growth. Moreover, Kuwait emerged as the fastest-growing importer imported in GCC, with a CAGR of +11.9% from 2012-2022. Oman experienced a relatively flat trend pattern. By contrast, Qatar (-1.4%) illustrated a downward trend over the same period. From 2012 to 2022, the share of the United Arab Emirates, Kuwait, Oman and Qatar increased by +54, +22, +7.3 and +4.5 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) constitutes the largest market for imported medicaments of penicillins, streptomycins or derivatives thereof in GCC, comprising 56% of total imports. The second position in the ranking was held by Kuwait ($X), with a 23% share of total imports. It was followed by Qatar, with a 9.3% share.

From 2012 to 2022, the average annual rate of growth in terms of value in the United Arab Emirates stood at +6.0%. The remaining importing countries recorded the following average annual rates of imports growth: Kuwait (+11.9% per year) and Qatar (-2.2% per year).

Import Prices by Country

In 2022, the import price in GCC amounted to $X per ton, rising by 3.9% against the previous year. Over the period under review, the import price, however, recorded a deep setback. The pace of growth appeared the most rapid in 2015 when the import price increased by 34%. The level of import peaked at $X per ton in 2016; however, from 2017 to 2022, import prices stood at a somewhat 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 Qatar ($X per ton), while Oman ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+0.9%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform