Hong Kong SAR, China: Market for Medicaments Containing Corticosteroid Hormones 2024

Market Size for Medicaments Containing Corticosteroid Hormones in Hong Kong SAR, China

The Hong Kong medicaments containing corticosteroid hormones market fell rapidly to $X in 2021, which is down by -38% against the previous year. Overall, consumption recorded a noticeable decline. Medicaments containing corticosteroid hormones consumption peaked at $X in 2015; however, from 2016 to 2021, consumption stood at a somewhat lower figure.

Production of Medicaments Containing Corticosteroid Hormones in Hong Kong SAR, China

In value terms, medicaments containing corticosteroid hormones production declined to $X in 2021 estimated in export price. In general, production continues to indicate a slight setback. The most prominent rate of growth was recorded in 2020 with an increase of 14%. Medicaments containing corticosteroid hormones production peaked at $X in 2013; however, from 2014 to 2021, production remained at a lower figure.

Exports of Medicaments Containing Corticosteroid Hormones

Exports from Hong Kong SAR, China

In 2021, overseas shipments of medicaments containing corticosteroid hormones increased by 36% to X tons, rising for the sixth consecutive year after two years of decline. Overall, total exports indicated moderate growth from 2012 to 2021: its volume increased at an average annual rate of +4.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +96.4% against 2015 indices. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, medicaments containing corticosteroid hormones exports surged to $X in 2021. The total export value increased at an average annual rate of +2.1% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

China (X tons) was the main destination for medicaments containing corticosteroid hormones exports from Hong Kong SAR, with a 87% share of total exports. Moreover, medicaments containing corticosteroid hormones exports to China exceeded the volume sent to the second major destination, Macao SAR (X tons), more than tenfold. The Philippines (X tons) ranked third in terms of total exports with a 1.9% share.

From 2012 to 2021, the average annual growth rate of volume to China stood at +8.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Macao SAR (-3.2% per year) and the Philippines (-8.6% per year).

In value terms, China ($X) remains the key foreign market for medicaments containing corticosteroid hormones exports from Hong Kong SAR, comprising 77% of total exports. The second position in the ranking was taken by Macao SAR ($X), with a 16% share of total exports. It was followed by the Philippines, with a 2.7% share.

From 2012 to 2021, the average annual rate of growth in terms of value to China stood at +7.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Macao SAR (+3.1% per year) and the Philippines (-5.4% per year).

Export Prices by Country

In 2021, the average medicaments containing corticosteroid hormones export price amounted to $X per ton, surging by 8.9% against the previous year. Over the period under review, the export price, however, continues to indicate a perceptible setback. The growth pace was the most rapid in 2014 when the average export price increased by 20% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2015 to 2021, the average export prices remained at a lower figure.

Prices varied noticeably country of destination: the country with the highest price was Macao SAR ($X per ton), while the average price for exports to Vietnam ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Macao SAR (+6.5%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Medicaments Containing Corticosteroid Hormones

Imports into Hong Kong SAR, China

In 2021, approx. X tons of medicaments containing corticosteroid hormones were imported into Hong Kong SAR; picking up by 4.3% compared with the previous year. In general, imports continue to indicate prominent growth. The most prominent rate of growth was recorded in 2018 when imports increased by 42%. Imports peaked at X tons in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

In value terms, medicaments containing corticosteroid hormones imports expanded sharply to $X in 2021. Overall, total imports indicated strong growth from 2012 to 2021: its value increased at an average annual rate of +6.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +107.6% against 2013 indices. The pace of growth appeared the most rapid in 2018 with an increase of 15%. Over the period under review, imports hit record highs in 2021 and are expected to retain growth in the near future.

Imports by Country

In 2021, Italy (X tons) constituted the largest supplier of medicaments containing corticosteroid hormones to Hong Kong SAR, accounting for a 42% share of total imports. Moreover, medicaments containing corticosteroid hormones imports from Italy exceeded the figures recorded by the second-largest supplier, France (X tons), fourfold. The UK (X tons) ranked third in terms of total imports with a 9.6% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Italy totaled +18.7%. The remaining supplying countries recorded the following average annual rates of imports growth: France (+62.7% per year) and the UK (+18.6% per year).

In value terms, the largest medicaments containing corticosteroid hormones suppliers to Hong Kong SAR were the UK ($X), France ($X) and Italy ($X), together comprising 34% of total imports. These countries were followed by Germany, Belgium, Ireland, Singapore, China, Japan, Switzerland, the Netherlands, Spain and Sweden, which together accounted for a further 52%.

Among the main suppliers, Sweden, with a CAGR of +70.2%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average medicaments containing corticosteroid hormones import price amounted to $X per ton, growing by 5.7% against the previous year. Over the period under review, the import price, however, showed a slight descent. The most prominent rate of growth was recorded in 2013 when the average import price increased by 24% against the previous year. As a result, import price reached the peak level of $X per ton. From 2014 to 2021, the average import prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Germany ($X per ton), while the price for Italy ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Belgium (+20.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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