Kuwait: Medical Gel Preparations Market 2024

Medical Gel Preparations Market Size in Kuwait

In 2022, the Kuwaiti medical gel preparations market increased by 9.3% to $X, rising for the fourth consecutive year after two years of decline. Over the period under review, consumption recorded prominent growth. As a result, consumption reached the peak level of $X. From 2017 to 2022, the growth of the market failed to regain momentum.

Medical Gel Preparations Exports

Exports from Kuwait

After two years of growth, shipments abroad of gel preparations for human or veterinary medicine decreased by -22.3% to X kg in 2022. Over the period under review, exports, however, posted a significant increase. The most prominent rate of growth was recorded in 2017 when exports increased by 10,133%. Over the period under review, the exports attained the maximum at X tons in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

In value terms, medical gel preparations exports contracted remarkably to $X in 2022. In general, exports, however, showed significant growth. The most prominent rate of growth was recorded in 2017 when exports increased by 8,957%. Over the period under review, the exports hit record highs at $X in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

Exports by Country

Qatar (X kg) was the main destination for medical gel preparations exports from Kuwait, with a 73% share of total exports. Moreover, medical gel preparations exports to Qatar exceeded the volume sent to the second major destination, Saudi Arabia (X kg), threefold.

From 2012 to 2022, the average annual growth rate of volume to Qatar totaled +32.7%.

In value terms, Qatar ($X) remains the key foreign market for gel preparations for human or veterinary medicine exports from Kuwait, comprising 99% of total exports. The second position in the ranking was held by Saudi Arabia ($X), with a 1.3% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Qatar amounted to +39.9%.

Export Prices by Country

In 2022, the average medical gel preparations export price amounted to $X per ton, therefore, remained relatively stable against the previous year. In general, export price indicated a tangible expansion from 2012 to 2022: its price increased at an average annual rate of +2.8% 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 decreased by -22.4% against 2020 indices. The growth pace was the most rapid in 2020 when the average export price increased by 30% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2021 to 2022, the average export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Qatar ($X per ton), while the average price for exports to Saudi Arabia stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Qatar (+5.4%).

Medical Gel Preparations Imports

Imports into Kuwait

Medical gel preparations imports into Kuwait soared to X tons in 2022, growing by 29% against the previous year. Overall, imports enjoyed resilient growth. The pace of growth appeared the most rapid in 2016 when imports increased by 122%. Over the period under review, imports reached the peak figure at X tons in 2017; however, from 2018 to 2022, imports failed to regain momentum.

In value terms, medical gel preparations imports declined to $X in 2022. In general, imports recorded a resilient increase. The pace of growth was the most pronounced in 2016 with an increase of 211% against the previous year. As a result, imports attained the peak of $X. From 2017 to 2022, the growth of imports failed to regain momentum.

Imports by Country

In 2022, Mexico (X tons) constituted the largest medical gel preparations supplier to Kuwait, with a 40% share of total imports. Moreover, medical gel preparations imports from Mexico exceeded the figures recorded by the second-largest supplier, Spain (X tons), twofold. Turkey (X tons) ranked third in terms of total imports with a 16% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Mexico totaled +28.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (+38.7% per year) and Turkey (+8.8% per year).

In value terms, France ($X), Mexico ($X) and Turkey ($X) constituted the largest medical gel preparations suppliers to Kuwait, together accounting for 46% of total imports. The United Arab Emirates, Spain, China, the UK, Lithuania and South Africa lagged somewhat behind, together comprising a further 22%.

Spain, with a CAGR of +35.0%, recorded the highest rates of growth with regard to the value of imports, in terms of 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 -27% against the previous year. Overall, the import price, however, recorded a slight expansion. The pace of growth was the most pronounced in 2019 when the average import price increased by 122%. As a result, import price reached the peak level of $X per ton. From 2020 to 2022, the average import prices remained at a somewhat lower figure.

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 South Africa ($X per ton), while the price for Spain ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Africa (+31.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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