Hungary: Market for Medicaments Containing Corticosteroid Hormones 2024

Market Size for Medicaments Containing Corticosteroid Hormones in Hungary

The Hungarian medicaments containing corticosteroid hormones market reduced remarkably to $X in 2021, falling by -26.7% against the previous year. Over the period under review, consumption, however, showed noticeable growth. Medicaments containing corticosteroid hormones consumption peaked at $X in 2015; however, from 2016 to 2021, consumption failed to regain momentum.

Production of Medicaments Containing Corticosteroid Hormones in Hungary

In value terms, medicaments containing corticosteroid hormones production contracted to $X in 2021 estimated in export price. Overall, the total production indicated strong growth from 2012 to 2021: its value increased at an average annual rate of +10.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +16.9% against 2018 indices. The most prominent rate of growth was recorded in 2013 when the production volume increased by 61% against the previous year. Over the period under review, production attained the maximum level at $X in 2017; however, from 2018 to 2021, production stood at a somewhat lower figure.

Exports of Medicaments Containing Corticosteroid Hormones

Exports from Hungary

In 2021, shipments abroad of medicaments containing corticosteroid hormones decreased by -16.2% to X tons for the first time since 2018, thus ending a two-year rising trend. Overall, exports, however, showed a prominent increase. The pace of growth was the most pronounced in 2020 when exports increased by 49% against the previous year. As a result, the exports reached the peak of X tons, and then shrank sharply in the following year.

In value terms, medicaments containing corticosteroid hormones exports rose rapidly to $X in 2021. In general, total exports indicated a strong increase from 2012 to 2021: its value increased at an average annual rate of +7.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +25.9% against 2019 indices. The pace of growth appeared the most rapid in 2017 when exports increased by 18%. The exports peaked in 2021 and are likely to see gradual growth in the immediate term.

Exports by Country

Poland (X tons), Romania (X tons) and Ukraine (X tons) were the main destinations of medicaments containing corticosteroid hormones exports from Hungary, together accounting for 31% of total exports. Russia, Germany, Serbia, Bulgaria, the Czech Republic, Canada, Vietnam, Italy, Croatia and Kazakhstan lagged somewhat behind, together comprising a further 43%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Germany (with a CAGR of +65.0%), while the other leaders experienced more modest paces of growth.

In value terms, Romania ($X), Ukraine ($X) and Poland ($X) constituted the largest markets for medicaments containing corticosteroid hormones exported from Hungary worldwide, together comprising 26% of total exports. These countries were followed by the Czech Republic, Germany, Bulgaria, Serbia, Croatia, Italy, Russia, Kazakhstan, Canada and Vietnam, which together accounted for a further 38%.

Among the main countries of destination, Germany, with a CAGR of +63.8%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average medicaments containing corticosteroid hormones export price stood at $X per ton in 2021, surging by 34% against the previous year. Over the period under review, the export price, however, showed a noticeable decrease. Over the period under review, the average export prices attained the maximum at $X per ton in 2013; however, from 2014 to 2021, the export prices remained at a lower figure.

Prices varied noticeably country of destination: the country with the highest price was the Czech Republic ($X per ton), while the average price for exports to Vietnam ($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 Italy (+7.7%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Medicaments Containing Corticosteroid Hormones

Imports into Hungary

In 2021, the amount of medicaments containing corticosteroid hormones imported into Hungary expanded to X tons, growing by 2.9% against the previous year's figure. In general, imports enjoyed strong growth. The pace of growth was the most pronounced in 2014 when imports increased by 181%. Imports peaked at X tons in 2015; however, from 2016 to 2021, imports failed to regain momentum.

In value terms, medicaments containing corticosteroid hormones imports reduced rapidly to $X in 2021. The total import value increased at an average annual rate of +1.5% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2017 with an increase of 30%. As a result, imports attained the peak of $X. From 2018 to 2021, the growth of imports remained at a lower figure.

Imports by Country

Belgium (X tons), Sweden (X tons) and Germany (X tons) were the main suppliers of medicaments containing corticosteroid hormones imports to Hungary, with a combined 67% share of total imports. These countries were followed by Romania, France, Denmark, Italy, the Netherlands and Slovenia, which together accounted for a further 25%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Romania (with a CAGR of +130.8%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Belgium ($X) constituted the largest supplier of medicaments containing corticosteroid hormones to Hungary, comprising 45% of total imports. The second position in the ranking was taken by Denmark ($X), with a 9.1% share of total imports. It was followed by Germany, with an 8.5% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Belgium stood at +8.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Denmark (+13.2% per year) and Germany (-3.7% per year).

Import Prices by Country

The average medicaments containing corticosteroid hormones import price stood at $X per ton in 2021, with a decrease of -22.5% against the previous year. In general, the import price recorded a abrupt slump. The pace of growth was the most pronounced in 2016 when the average import price increased by 40%. The import price peaked at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

Prices varied noticeably country of origin: the country with the highest price was Denmark ($X per ton), while the price for Sweden ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Slovenia (+8.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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