Guatemala: Medical Gel Preparations Market 2024

Medical Gel Preparations Market Size in Guatemala

The Guatemalan medical gel preparations market reduced dramatically to $X in 2022, with a decrease of -16.7% 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, consumption, however, posted a prominent increase. Over the period under review, the market attained the peak level at $X in 2021, and then contracted dramatically in the following year.

Medical Gel Preparations Exports

Exports from Guatemala

In 2022, overseas shipments of gel preparations for human or veterinary medicine decreased by -44.1% to X tons for the first time since 2018, thus ending a three-year rising trend. Overall, exports, however, enjoyed a significant expansion. The pace of growth was the most pronounced in 2014 with an increase of 27,313%. Over the period under review, the exports attained the maximum at X tons in 2021, and then dropped significantly in the following year.

In value terms, medical gel preparations exports contracted significantly to $X in 2022. Over the period under review, exports, however, continue to indicate significant growth. The most prominent rate of growth was recorded in 2016 when exports increased by 62,834% against the previous year. The exports peaked at $X in 2021, and then dropped markedly in the following year.

Exports by Country

El Salvador (X tons) was the main destination for medical gel preparations exports from Guatemala, accounting for a 94% share of total exports. Moreover, medical gel preparations exports to El Salvador exceeded the volume sent to the second major destination, Belize (X kg), more than tenfold. The third position in this ranking was taken by Honduras (X kg), with a 1.4% share.

From 2013 to 2022, the average annual rate of growth in terms of volume to El Salvador amounted to +17.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Belize (0.0% per year) and Honduras (+35.7% per year).

In value terms, El Salvador ($X) remains the key foreign market for gel preparations for human or veterinary medicine exports from Guatemala, comprising 95% of total exports. The second position in the ranking was held by Belize ($X), with a 3.1% share of total exports. It was followed by Costa Rica, with a 1.4% share.

From 2013 to 2022, the average annual rate of growth in terms of value to El Salvador was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Belize (0.0% per year) and Costa Rica (-81.1% per year).

Export Prices by Country

The average medical gel preparations export price stood at $X per ton in 2022, stabilizing at the previous year. Overall, the export price, however, saw a sharp setback. The pace of growth was the most pronounced in 2016 an increase of 15,471%. As a result, the export price reached the peak level of $X per ton. From 2017 to 2022, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was El Salvador ($X per ton), while the average price for exports to Honduras ($X per ton) was amongst the lowest.

From 2013 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Costa Rica (+5.7%), while the prices for the other major destinations experienced a decline.

Medical Gel Preparations Imports

Imports into Guatemala

In 2022, after three years of growth, there was significant decline in supplies from abroad of gel preparations for human or veterinary medicine, when their volume decreased by -28.5% to X tons. Overall, imports, however, showed a remarkable increase. The pace of growth appeared the most rapid in 2015 when imports increased by 321% against the previous year. Imports peaked at X tons in 2021, and then shrank markedly in the following year.

In value terms, medical gel preparations imports rose notably to $X in 2022. In general, imports, however, continue to indicate a significant expansion. The pace of growth appeared the most rapid in 2015 when imports increased by 125% against the previous year. Imports peaked in 2022 and are expected to retain growth in years to come.

Imports by Country

Thailand (X tons), China (X tons) and Peru (X tons) were the main suppliers of medical gel preparations imports to Guatemala, with a combined 63% share of total imports. Malaysia, Turkey, India, Brazil and the United States lagged somewhat behind, together accounting for a further 29%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Turkey (with a CAGR of +181.6%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest medical gel preparations suppliers to Guatemala were Thailand ($X), India ($X) and Peru ($X), together accounting for 52% of total imports. Malaysia, Turkey, China, the United States and Brazil lagged somewhat behind, together accounting for a further 25%.

Turkey, with a CAGR of +148.2%, saw the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average medical gel preparations import price amounted to $X per ton, with an increase of 50% against the previous year. Over the period under review, the import price continues to indicate prominent growth. The most prominent rate of growth was recorded in 2013 when the average import price increased by 306% against the previous year. The import price peaked at $X per ton in 2014; however, from 2015 to 2022, import prices stood at a somewhat lower figure.

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 India ($X per ton), while the price for China ($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 (+76.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform