Guatemala: Syringe Market 2024

Syringe Market Size in Guatemala

The Guatemalan syringe market skyrocketed to $X in 2022, picking up by 30% 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, the total consumption indicated a prominent expansion from 2012 to 2022: its value increased at an average annual rate of +8.8% 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 +67.7% against 2020 indices. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Syringe Exports

Exports from Guatemala

Syringe exports from Guatemala expanded remarkably to X units in 2022, surging by 6% compared with the previous year. Over the period under review, exports, however, continue to indicate a drastic downturn. The pace of growth appeared the most rapid in 2020 when exports increased by 60%. Over the period under review, the exports hit record highs at X units in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

In value terms, syringe exports contracted remarkably to $X in 2022. Overall, exports, however, showed a noticeable downturn. The growth pace was the most rapid in 2020 with an increase of 61% against the previous year. The exports peaked at $X in 2016; however, from 2017 to 2022, the exports remained at a lower figure.

Exports by Country

Honduras (X units) was the main destination for syringe exports from Guatemala, accounting for a 58% share of total exports. Moreover, syringe exports to Honduras exceeded the volume sent to the second major destination, El Salvador (X units), threefold. The third position in this ranking was held by the United States (X units), with a 10% share.

From 2012 to 2022, the average annual growth rate of volume to Honduras stood at +9.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: El Salvador (-11.4% per year) and the United States (+2.2% per year).

In value terms, the largest markets for syringe exported from Guatemala were Honduras ($X), Nicaragua ($X) and El Salvador ($X), with a combined 65% share of total exports.

Among the main countries of destination, Honduras, with a CAGR of +4.5%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced a decline.

Export Prices by Country

The average syringe export price stood at $X per thousand units in 2022, which is down by -22.7% against the previous year. In general, the export price, however, posted a moderate increase. The most prominent rate of growth was recorded in 2017 an increase of 53%. The export price peaked at $X per thousand units in 2021, and then declined notably in the following year.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Nicaragua ($X per thousand units), while the average price for exports to the United States ($X per thousand units) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Nicaragua (+27.0%), while the prices for the other major destinations experienced mixed trend patterns.

Syringe Imports

Imports into Guatemala

Syringe imports into Guatemala fell to X units in 2022, leveling off at the previous year. The total import volume increased at an average annual rate of +2.3% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2019 when imports increased by 29%. As a result, imports attained the peak of X units. From 2020 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, syringe imports soared to $X in 2022. Overall, imports, however, posted a resilient expansion. The most prominent rate of growth was recorded in 2021 when imports increased by 45%. Over the period under review, imports hit record highs in 2022 and are likely to see gradual growth in the immediate term.

Imports by Country

In 2022, China (X units) constituted the largest supplier of syringe to Guatemala, accounting for a 67% share of total imports. Moreover, syringe imports from China exceeded the figures recorded by the second-largest supplier, Indonesia (X units), fivefold. The United States (X units) ranked third in terms of total imports with a 7.4% share.

From 2012 to 2022, the average annual growth rate of volume from China stood at +3.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Indonesia (+24.2% per year) and the United States (-3.9% per year).

In value terms, China ($X) constituted the largest supplier of syringes, with or without needles to Guatemala, comprising 54% of total imports. The second position in the ranking was held by Germany ($X), with a 7.8% share of total imports. It was followed by Indonesia, with a 7.1% share.

From 2012 to 2022, the average annual growth rate of value from China amounted to +16.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+6.6% per year) and Indonesia (+37.5% per year).

Import Prices by Country

The average syringe import price stood at $X per thousand units in 2022, rising by 44% against the previous year. Overall, the import price showed prominent growth. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Germany ($X per thousand units), while the price for Indonesia ($X per thousand units) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Belgium (+16.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform