Ghana: Medical Gel Preparations Market 2024

Medical Gel Preparations Market Size in Ghana

The Ghanian medical gel preparations market contracted significantly to $X in 2022, reducing by -38% 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). In general, consumption, however, posted resilient growth. Medical gel preparations consumption peaked at $X in 2021, and then shrank significantly in the following year.

Medical Gel Preparations Exports

Exports from Ghana

In 2022, after two years of decline, there was growth in shipments abroad of gel preparations for human or veterinary medicine, when their volume increased by 2.1% to X kg. In general, exports, however, faced a abrupt contraction. The growth pace was the most rapid in 2016 when exports increased by 8,460%. Over the period under review, the exports reached the maximum at X tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, medical gel preparations exports soared to $X in 2022. Overall, exports saw a strong increase. The pace of growth appeared the most rapid in 2016 when exports increased by 11,950%. Over the period under review, the exports hit record highs at $X in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Cote d'Ivoire (X kg), the UK (X kg) and South Africa (X kg) were the main destinations of medical gel preparations exports from Ghana, with a combined 99% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Cote d'Ivoire (with a CAGR of +24.7%), while the other leaders experienced mixed trend patterns.

In value terms, Cote d'Ivoire ($X) remains the key foreign market for gel preparations for human or veterinary medicine exports from Ghana, comprising 76% of total exports. The second position in the ranking was held by South Africa ($X), with a 15% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Cote d'Ivoire totaled +37.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: South Africa (-5.5% per year) and the UK (+25.7% per year).

Export Prices by Country

The average medical gel preparations export price stood at $X per ton in 2022, jumping by 21% against the previous year. Over the period under review, the export price saw significant growth. The growth pace was the most rapid in 2018 an increase of 215%. Over the period under review, the average export prices reached the maximum at $X per ton in 2020; however, from 2021 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Cote d'Ivoire ($X per ton), while the average price for exports to the UK ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to South Africa (+21.0%), while the prices for the other major destinations experienced more modest paces of growth.

Medical Gel Preparations Imports

Imports into Ghana

In 2022, medical gel preparations imports into Ghana reduced notably to X tons, with a decrease of -38.6% against 2021 figures. Over the period under review, imports, however, saw tangible growth. The most prominent rate of growth was recorded in 2019 when imports increased by 329%. As a result, imports reached the peak of X tons. From 2020 to 2022, the growth of imports remained at a lower figure.

In value terms, medical gel preparations imports declined significantly to $X in 2022. Overall, imports, however, recorded prominent growth. The pace of growth appeared the most rapid in 2021 when imports increased by 300%. As a result, imports attained the peak of $X, and then shrank notably in the following year.

Imports by Country

In 2022, Thailand (X tons) constituted the largest supplier of medical gel preparations to Ghana, accounting for a 41% share of total imports. Moreover, medical gel preparations imports from Thailand exceeded the figures recorded by the second-largest supplier, China (X tons), threefold. Malaysia (X tons) ranked third in terms of total imports with an 11% share.

From 2012 to 2022, the average annual growth rate of volume from Thailand totaled +24.7%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+21.4% per year) and Malaysia (+3.9% per year).

In value terms, Thailand ($X), the UK ($X) and Malaysia ($X) were the largest medical gel preparations suppliers to Ghana, together accounting for 74% of total imports.

The UK, with a CAGR of +43.6%, recorded the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average medical gel preparations import price stood at $X per ton in 2022, surging by 1.7% against the previous year. Over the period under review, the import price enjoyed a buoyant expansion. The most prominent rate of growth was recorded in 2021 when the average import price increased by 89% against the previous year. The import price peaked at $X per ton in 2016; however, from 2017 to 2022, import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Malaysia (+24.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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