India: Market for Medicaments Containing Corticosteroid Hormones 2024

Market Size for Medicaments Containing Corticosteroid Hormones in India

In 2021, the Indian medicaments containing corticosteroid hormones market decreased by -21% to $X, falling for the second year in a row after three years of growth. Overall, the total consumption indicated moderate growth from 2012 to 2021: its value increased at an average annual rate of +2.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -22.5% against 2019 indices. Over the period under review, the market attained the peak level at $X in 2019; however, from 2020 to 2021, consumption remained at a lower figure.

Production of Medicaments Containing Corticosteroid Hormones in India

In value terms, medicaments containing corticosteroid hormones production contracted modestly to $X in 2021 estimated in export price. In general, production, however, posted a resilient increase. The most prominent rate of growth was recorded in 2017 when the production volume increased by 52%. Medicaments containing corticosteroid hormones production peaked at $X in 2020, and then contracted in the following year.

Exports of Medicaments Containing Corticosteroid Hormones

Exports from India

In 2021, the amount of medicaments containing corticosteroid hormones exported from India surged to X tons, jumping by 59% compared with the year before. In general, exports recorded strong growth. The growth pace was the most rapid in 2020 with an increase of 63% against the previous year. The exports peaked in 2021 and are expected to retain growth in the near future.

In value terms, medicaments containing corticosteroid hormones exports expanded markedly to $X in 2021. Over the period under review, exports saw a prominent increase. The pace of growth appeared the most rapid in 2018 with an increase of 53%. Over the period under review, the exports reached the peak figure in 2021 and are expected to retain growth in years to come.

Exports by Country

The United States (X tons), Nigeria (X tons) and Democratic Republic of the Congo (X tons) were the main destinations of medicaments containing corticosteroid hormones exports from India, together comprising 45% of total exports. Russia, South Africa, Somalia, Sri Lanka, Iraq, Kenya, Ghana, Angola, Uganda and the UK lagged somewhat behind, together accounting for a further 27%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by South Africa (with a CAGR of +56.2%), while the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) remains the key foreign market for medicaments containing corticosteroid hormones exports from India, comprising 33% of total exports. The second position in the ranking was taken by South Africa ($X), with a 6.4% share of total exports. It was followed by Russia, with a 4.6% share.

From 2012 to 2021, the average annual growth rate of value to the United States stood at +10.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: South Africa (+60.9% per year) and Russia (-11.0% per year).

Export Prices by Country

The average medicaments containing corticosteroid hormones export price stood at $X per ton in 2021, shrinking by -28.6% against the previous year. Over the period under review, the export price continues to indicate a perceptible reduction. The most prominent rate of growth was recorded in 2017 when the average export price increased by 34% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2019; however, from 2020 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably country of destination: the country with the highest price was the UK ($X per ton), while the average price for exports to Democratic Republic of the Congo ($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 the UK (+10.6%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Medicaments Containing Corticosteroid Hormones

Imports into India

In 2021, approx. X tons of medicaments containing corticosteroid hormones were imported into India; jumping by 65% on 2020. Over the period under review, imports enjoyed significant growth. The most prominent rate of growth was recorded in 2018 with an increase of 124% against the previous year. Imports peaked in 2021 and are likely to see steady growth in the near future.

In value terms, medicaments containing corticosteroid hormones imports rose sharply to $X in 2021. Overall, total imports indicated temperate growth from 2012 to 2021: its value increased at an average annual rate of +2.4% 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 decreased by -27.4% against 2015 indices. The most prominent rate of growth was recorded in 2013 when imports increased by 35%. Over the period under review, imports hit record highs at $X in 2015; however, from 2016 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Belgium (X tons) constituted the largest supplier of medicaments containing corticosteroid hormones to India, with a 48% share of total imports. Moreover, medicaments containing corticosteroid hormones imports from Belgium exceeded the figures recorded by the second-largest supplier, Switzerland (X tons), twofold. The third position in this ranking was held by Ireland (X tons), with an 11% share.

From 2012 to 2021, the average annual growth rate of volume from Belgium totaled +50.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Switzerland (+43.2% per year) and Ireland (+23.1% per year).

In value terms, Switzerland ($X), Belgium ($X) and Italy ($X) constituted the largest medicaments containing corticosteroid hormones suppliers to India, together accounting for 61% of total imports.

Among the main suppliers, Switzerland, with a CAGR of +19.1%, saw the highest rates of growth with regard to 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 kg, declining by -36% against the previous year. In general, the import price saw a sharp descent. The pace of growth appeared the most rapid in 2013 when the average import price increased by 48% against the previous year. The import price peaked at $X per kg in 2016; however, from 2017 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably country of origin: the country with the highest price was Italy ($X per kg), while the price for Canada ($X per kg) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Netherlands (-0.3%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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