Kuwait: Market for Medicaments Containing Corticosteroid Hormones 2024

Market Size for Medicaments Containing Corticosteroid Hormones in Kuwait

For the sixth year in a row, the Kuwaiti medicaments containing corticosteroid hormones market recorded growth in sales value, which increased by 5.2% to $X in 2021. In general, consumption, however, showed a strong expansion. Medicaments containing corticosteroid hormones consumption peaked in 2021 and is likely to see steady growth in the immediate term.

Exports of Medicaments Containing Corticosteroid Hormones

Exports from Kuwait

In 2021, medicaments containing corticosteroid hormones exports from Kuwait skyrocketed to X tons, jumping by 39% against the previous year's figure. Overall, exports saw a strong increase. The pace of growth appeared the most rapid in 2020 when exports increased by 215%. Over the period under review, the exports attained the peak figure in 2021 and are likely to see gradual growth in the near future.

In value terms, medicaments containing corticosteroid hormones exports dropped remarkably to $X in 2021. Over the period under review, exports continue to indicate noticeable growth. The most prominent rate of growth was recorded in 2020 when exports increased by 242% against the previous year. As a result, the exports reached the peak of $X, and then declined notably in the following year.

Exports by Country

Saudi Arabia (X tons), Bahrain (X tons) and the United Arab Emirates (X kg) were the main destinations of medicaments containing corticosteroid hormones exports from Kuwait, together accounting for 96% of total exports.

From 2012 to 2021, the biggest increases were recorded for Saudi Arabia (with a CAGR of +47.0%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Saudi Arabia ($X) remains the key foreign market for medicaments containing corticosteroid hormones exports from Kuwait, comprising 56% of total exports. The second position in the ranking was taken by Qatar ($X), with a 23% share of total exports. It was followed by Bahrain, with a 14% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Saudi Arabia totaled +79.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Qatar (-4.8% per year) and Bahrain (+22.0% per year).

Export Prices by Country

In 2021, the average medicaments containing corticosteroid hormones export price amounted to $X per ton, dropping by -44.2% against the previous year. In general, the export price continues to indicate a perceptible curtailment. The growth pace was the most rapid in 2017 when the average export price increased by 45%. Over the period under review, the average export prices reached the maximum at $X per ton in 2014; however, from 2015 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably country of destination: the country with the highest price was Qatar ($X per ton), while the average price for exports to the United Arab Emirates ($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 Saudi Arabia (+22.2%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Medicaments Containing Corticosteroid Hormones

Imports into Kuwait

After five years of growth, purchases abroad of medicaments containing corticosteroid hormones decreased by -17.3% to X tons in 2021. In general, imports, however, posted a buoyant expansion. The most prominent rate of growth was recorded in 2014 with an increase of 151% against the previous year. Imports peaked at X tons in 2020, and then reduced sharply in the following year.

In value terms, medicaments containing corticosteroid hormones imports soared to $X in 2021. Overall, imports, however, enjoyed a buoyant increase. The growth pace was the most rapid in 2014 when imports increased by 111%. Over the period under review, imports reached the peak figure in 2021 and are likely to see gradual growth in years to come.

Imports by Country

In 2021, the United Arab Emirates (X tons) constituted the largest supplier of medicaments containing corticosteroid hormones to Kuwait, accounting for a 22% share of total imports. Moreover, medicaments containing corticosteroid hormones imports from the United Arab Emirates exceeded the figures recorded by the second-largest supplier, Sweden (X tons), twofold. The Czech Republic (X tons) ranked third in terms of total imports with a 10% share.

From 2012 to 2021, the average annual growth rate of volume from the United Arab Emirates totaled +5.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Sweden (+11.9% per year) and the Czech Republic (+17.6% per year).

In value terms, the United Arab Emirates ($X) constituted the largest supplier of medicaments containing corticosteroid hormones to Kuwait, comprising 27% of total imports. The second position in the ranking was held by Germany ($X), with a 9.5% share of total imports. It was followed by Sweden, with a 7.9% share.

From 2012 to 2021, the average annual rate of growth in terms of value from the United Arab Emirates amounted to +21.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+20.9% per year) and Sweden (+6.9% per year).

Import Prices by Country

The average medicaments containing corticosteroid hormones import price stood at $X per ton in 2021, increasing by 40% against the previous year. Over the period under review, the import price continues to indicate resilient growth. The most prominent rate of growth was recorded in 2019 an increase of 55% against the previous year. Over the period under review, average import prices attained the peak figure in 2021 and is expected to retain growth in the near future.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+15.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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