Latin America and the Caribbean: Antibiotic Market 2024

Antibiotic Market Size in Latin America and the Caribbean

In 2021, the Latin American antibiotic market decreased by -38.5% to $X for the first time since 2015, thus ending a five-year rising trend. Over the period under review, consumption showed a strong increase. As a result, consumption attained the peak level of $X, and then dropped sharply in the following year.

Antibiotic Production in Latin America and the Caribbean

In value terms, antibiotic production soared to $X in 2021 estimated in export price. In general, production, however, saw a abrupt decline. The most prominent rate of growth was recorded in 2017 with an increase of 37% against the previous year. The level of production peaked at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

Antibiotic Exports

Exports in Latin America and the Caribbean

In 2021, shipments abroad of antibiotics decreased by -21.3% to X tons, falling for the fourth consecutive year after two years of growth. In general, exports saw a dramatic downturn. The pace of growth appeared the most rapid in 2016 when exports increased by 41%. The volume of export peaked at X tons in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, antibiotic exports rose slightly to $X in 2021. Over the period under review, exports recorded a abrupt shrinkage. The most prominent rate of growth was recorded in 2017 when exports increased by 111%. Over the period under review, the exports hit record highs at $X in 2013; however, from 2014 to 2021, the exports remained at a lower figure.

Exports by Country

In 2021, Mexico (X tons) represented the key exporter of antibiotics, creating 66% of total exports. It was distantly followed by Brazil (X tons) and Guatemala (X tons), together creating a 25% share of total exports. Panama (X tons) and Uruguay (X tons) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to antibiotic exports from Mexico stood at -11.4%. At the same time, Uruguay (+20.4%) displayed positive paces of growth. Moreover, Uruguay emerged as the fastest-growing exporter exported in Latin America and the Caribbean, with a CAGR of +20.4% from 2012-2021. By contrast, Guatemala (-2.7%), Brazil (-12.2%) and Panama (-45.9%) illustrated a downward trend over the same period. Mexico (+47 p.p.), Brazil (+12 p.p.), Guatemala (+7.4 p.p.) and Uruguay (+2.2 p.p.) significantly strengthened its position in terms of the total exports, while Panama saw its share reduced by -71.5% from 2012 to 2021, respectively.

In value terms, Mexico ($X), Brazil ($X) and Panama ($X) appeared to be the countries with the highest levels of exports in 2021, with a combined 96% share of total exports. Guatemala and Uruguay lagged somewhat behind, together comprising a further 2.2%.

In terms of the main exporting countries, Uruguay, with a CAGR of +23.9%, 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 mixed trends in the exports figures.

Export Prices by Country

The export price in Latin America and the Caribbean stood at $X per ton in 2021, picking up by 29% against the previous year. Over the period under review, the export price recorded strong growth. The most prominent rate of growth was recorded in 2013 when the export price increased by 131%. Over the period under review, the export prices reached the peak figure at $X per ton in 2019; however, from 2020 to 2021, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Panama ($X per ton), while Guatemala ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Panama (+46.7%), while the other leaders experienced more modest paces of growth.

Antibiotic Imports

Imports in Latin America and the Caribbean

In 2021, supplies from abroad of antibiotics increased by 3.2% to X tons, rising for the second year in a row after two years of decline. Overall, imports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when imports increased by 32%. The volume of import peaked at X tons in 2013; however, from 2014 to 2021, imports failed to regain momentum.

In value terms, antibiotic imports contracted dramatically to $X in 2021. Over the period under review, imports, however, saw a perceptible downturn. The growth pace was the most rapid in 2020 with an increase of 28%. Over the period under review, imports reached the peak figure at $X in 2013; however, from 2014 to 2021, imports remained at a lower figure.

Imports by Country

Brazil was the main importer of antibiotics in Latin America and the Caribbean, with the volume of imports accounting for X tons, which was approx. 51% of total imports in 2021. Mexico (X tons) took a 12% share (based on physical terms) of total imports, which put it in second place, followed by Colombia (7.9%), Argentina (7.2%), Peru (5.8%) and Chile (4.8%). The Dominican Republic (X tons) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to antibiotic imports into Brazil stood at +1.1%. At the same time, Peru (+6.6%) and the Dominican Republic (+6.6%) displayed positive paces of growth. Moreover, Peru emerged as the fastest-growing importer imported in Latin America and the Caribbean, with a CAGR of +6.6% from 2012-2021. Colombia, Chile and Mexico experienced a relatively flat trend pattern. By contrast, Argentina (-3.0%) illustrated a downward trend over the same period. While the share of Brazil (+7.8 p.p.) and Peru (+2.7 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Argentina (-1.6 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Brazil ($X) constitutes the largest market for imported antibiotics in Latin America and the Caribbean, comprising 48% of total imports. The second position in the ranking was held by Mexico ($X), with a 14% share of total imports. It was followed by Colombia, with a 10% share.

In Brazil, antibiotic imports increased at an average annual rate of +4.2% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Mexico (-4.3% per year) and Colombia (+4.1% per year).

Import Prices by Country

In 2021, the import price in Latin America and the Caribbean amounted to $X per ton, waning by -22.9% against the previous year. Over the period under review, the import price showed a noticeable descent. The most prominent rate of growth was recorded in 2018 when the import price increased by 30%. As a result, import price attained the peak level of $X per ton. From 2019 to 2021, the import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Colombia ($X per ton), while Peru ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Colombia (+3.5%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :