Hong Kong SAR, China: Medical Gel Preparations Market 2024

Medical Gel Preparations Market Size in Hong Kong SAR, China

The Hong Kong medical gel preparations market expanded rapidly to $X in 2022, picking up by 12% against the previous year. Overall, consumption posted noticeable growth. As a result, consumption reached the peak level of $X. From 2019 to 2022, the growth of the market remained at a lower figure.

Medical Gel Preparations Production in Hong Kong SAR, China

In value terms, medical gel preparations production dropped notably to $X in 2022 estimated in export price. In general, production recorded a drastic downturn. The pace of growth was the most pronounced in 2015 with an increase of 44%. Over the period under review, production attained the peak level at $X in 2018; however, from 2019 to 2022, production remained at a lower figure.

Medical Gel Preparations Exports

Exports from Hong Kong SAR, China

In 2022, the amount of gel preparations for human or veterinary medicine exported from Hong Kong SAR reduced sharply to X tons, with a decrease of -48% against 2021 figures. Overall, exports, however, posted buoyant growth. The most prominent rate of growth was recorded in 2018 when exports increased by 171%. The exports peaked at X tons in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

In value terms, medical gel preparations exports reduced dramatically to $X in 2022. Over the period under review, exports, however, recorded prominent growth. The most prominent rate of growth was recorded in 2018 when exports increased by 203%. Over the period under review, the exports reached the maximum at $X in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

China (X tons), Macao SAR (X tons) and Taiwan (Chinese) (X tons) were the main destinations of medical gel preparations exports from Hong Kong SAR, together accounting for 82% of total exports. Cambodia and Singapore lagged somewhat behind, together accounting for a further 15%.

From 2012 to 2022, the biggest increases were recorded for Cambodia (with a CAGR of +42.0%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, China ($X) remains the key foreign market for gel preparations for human or veterinary medicine exports from Hong Kong SAR, comprising 49% of total exports. The second position in the ranking was taken by Macao SAR ($X), with a 19% share of total exports. It was followed by Taiwan (Chinese), with a 13% share.

From 2012 to 2022, the average annual rate of growth in terms of value to China stood at +27.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Macao SAR (+24.9% per year) and Taiwan (Chinese) (+25.7% per year).

Export Prices by Country

In 2022, the average medical gel preparations export price amounted to $X per ton, increasing by 37% against the previous year. In general, export price indicated a prominent expansion from 2012 to 2022: its price increased at an average annual rate of +5.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, medical gel preparations export price increased by +44.1% against 2020 indices. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was China ($X per ton), while the average price for exports to Singapore ($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 Cambodia (+3.1%), while the prices for the other major destinations experienced more modest paces of growth.

Medical Gel Preparations Imports

Imports into Hong Kong SAR, China

In 2022, approx. X tons of gel preparations for human or veterinary medicine were imported into Hong Kong SAR; growing by 6.1% on 2021 figures. Over the period under review, imports enjoyed a buoyant increase. The growth pace was the most rapid in 2020 when imports increased by 104% against the previous year. As a result, imports attained the peak of X tons. From 2021 to 2022, the growth of imports remained at a lower figure.

In value terms, medical gel preparations imports fell significantly to $X in 2022. Overall, imports showed a remarkable increase. The pace of growth appeared the most rapid in 2020 with an increase of 128% against the previous year. As a result, imports reached the peak of $X. From 2021 to 2022, the growth of imports failed to regain momentum.

Imports by Country

China (X tons), the United States (X tons) and Malaysia (X tons) were the main suppliers of medical gel preparations imports to Hong Kong SAR, together comprising 57% of total imports. Portugal, the UK, Thailand and Australia lagged somewhat behind, together comprising a further 14%.

From 2012 to 2022, the biggest increases were recorded for Portugal (with a CAGR of +69.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), the UK ($X) and China ($X) constituted the largest medical gel preparations suppliers to Hong Kong SAR, together accounting for 59% of total imports. Portugal, Malaysia, Thailand and Australia lagged somewhat behind, together accounting for a further 15%.

Portugal, with a CAGR of +60.0%, 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, reducing by -23.2% against the previous year. Overall, the import price recorded a pronounced shrinkage. The growth pace was the most rapid in 2019 an increase of 22% against the previous year. The import price peaked at $X per ton in 2016; however, from 2017 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the UK ($X per ton), while the price for Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+6.1%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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