India: Medical Gel Preparations Market 2024

Medical Gel Preparations Market Size in India

The Indian medical gel preparations market expanded to $X in 2022, increasing by 2.2% against the previous year. Over the period under review, the total consumption indicated temperate growth from 2012 to 2022: its value increased at an average annual rate of +4.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -6.4% against 2018 indices. 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 India

In value terms, medical gel preparations production rose modestly to $X in 2022 estimated in export price. Overall, the total production indicated a tangible increase from 2012 to 2022: its value increased at an average annual rate of +4.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -4.3% against 2018 indices. The pace of growth was the most pronounced in 2018 when the production volume increased by 24%. As a result, production reached the peak level of $X. From 2019 to 2022, production growth failed to regain momentum.

Medical Gel Preparations Exports

Exports from India

In 2022, overseas shipments of gel preparations for human or veterinary medicine increased by 44% to X tons, rising for the fourth year in a row after two years of decline. In general, exports recorded a resilient expansion. The pace of growth appeared the most rapid in 2020 when exports increased by 59% against the previous year. The exports peaked in 2022 and are likely to see steady growth in the near future.

In value terms, medical gel preparations exports surged to $X in 2022. Overall, exports saw a prominent increase. The growth pace was the most rapid in 2013 with an increase of 102%. The exports peaked in 2022 and are likely to see gradual growth in the near future.

Exports by Country

Benin (X tons) was the main destination for medical gel preparations exports from India, with a 21% share of total exports. Moreover, medical gel preparations exports to Benin exceeded the volume sent to the second major destination, Tanzania (X tons), threefold. The United Arab Emirates (X tons) ranked third in terms of total exports with a 4.4% share.

From 2012 to 2022, the average annual growth rate of volume to Benin totaled +23.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Tanzania (+40.7% per year) and the United Arab Emirates (+5.3% per year).

In value terms, the largest markets for medical gel preparations exported from India were Russia ($X), Egypt ($X) and Benin ($X), together accounting for 21% of total exports.

Among the main countries of destination, Egypt, with a CAGR of +186.4%, saw the highest rates of growth with regard to 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 medical gel preparations export price stood at $X per ton in 2022, with a decrease of -1.9% against the previous year. Overall, the export price, however, saw a measured increase. The pace of growth was the most pronounced in 2018 an increase of 60%. As a result, the export price reached the peak level of $X per ton. From 2019 to 2022, the average export prices failed to regain momentum.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Russia ($X per ton), while the average price for exports to Benin ($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 Egypt (+10.9%), while the prices for the other major destinations experienced more modest paces of growth.

Medical Gel Preparations Imports

Imports into India

In 2022, overseas purchases of gel preparations for human or veterinary medicine increased by 63% to X tons for the first time since 2018, thus ending a three-year declining trend. Overall, imports enjoyed a buoyant increase. The pace of growth was the most pronounced in 2016 when imports increased by 71%. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in years to come.

In value terms, medical gel preparations imports soared to $X in 2022. Over the period under review, imports continue to indicate a resilient increase. The pace of growth was the most pronounced in 2016 with an increase of 83% against the previous year. Over the period under review, imports reached the peak figure in 2022 and are likely to see gradual growth in the immediate term.

Imports by Country

In 2022, the United States (X tons) constituted the largest medical gel preparations supplier to India, with a 45% share of total imports. Moreover, medical gel preparations imports from the United States exceeded the figures recorded by the second-largest supplier, the UK (X tons), threefold. The third position in this ranking was held by China (X tons), with a 17% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from the United States amounted to +14.1%. The remaining supplying countries recorded the following average annual rates of imports growth: the UK (+63.6% per year) and China (+31.7% per year).

In value terms, the United States ($X) constituted the largest supplier of gel preparations for human or veterinary medicine to India, comprising 54% of total imports. The second position in the ranking was held by the UK ($X), with a 17% share of total imports. It was followed by China, with an 8.7% share.

From 2012 to 2022, the average annual rate of growth in terms of value from the United States amounted to +13.5%. The remaining supplying countries recorded the following average annual rates of imports growth: the UK (+70.4% per year) and China (+23.2% per year).

Import Prices by Country

In 2022, the average medical gel preparations import price amounted to $X per ton, remaining stable against the previous year. Over the period under review, the import price saw a perceptible downturn. The most prominent rate of growth was recorded in 2021 an increase of 24% against the previous year. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

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 the United States ($X per ton), while the price for Denmark ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the UK (+4.2%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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