Latin America and the Caribbean: Medical Gel Preparations Market 2024

Medical Gel Preparations Market Size in Latin America and the Caribbean

The Latin American medical gel preparations market fell modestly to $X in 2022, almost unchanged from the previous year. The market value increased at an average annual rate of +1.6% over the period from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The level of consumption peaked at $X in 2018; however, from 2019 to 2022, consumption failed to regain momentum.

Medical Gel Preparations Production in Latin America and the Caribbean

In value terms, medical gel preparations production reached $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.3% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2014 with an increase of 36% against the previous year. Over the period under review, production reached the peak level at $X in 2016; however, from 2017 to 2022, production remained at a lower figure.

Medical Gel Preparations Exports

Exports in Latin America and the Caribbean

In 2022, shipments abroad of gel preparations for human or veterinary medicine increased by 55% to X tons for the first time since 2017, thus ending a four-year declining trend. Overall, exports, however, recorded a perceptible curtailment. The volume of export peaked at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, medical gel preparations exports surged to $X in 2022. In general, exports, however, saw a pronounced reduction. The level of export peaked at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Mexico dominates exports structure, resulting at X tons, which was near 88% of total exports in 2022. Brazil (X tons), Guatemala (X tons) and Panama (X tons) took a minor share of total exports.

Exports from Mexico decreased at an average annual rate of -3.8% from 2012 to 2022. At the same time, Guatemala (+117.2%) and Panama (+2.1%) displayed positive paces of growth. Moreover, Guatemala emerged as the fastest-growing exporter exported in Latin America and the Caribbean, with a CAGR of +117.2% from 2012-2022. By contrast, Brazil (-12.2%) illustrated a downward trend over the same period. Mexico (+4.1 p.p.) and Guatemala (+1.8 p.p.) significantly strengthened its position in terms of the total exports, while Brazil saw its share reduced by -6% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Mexico ($X) remains the largest medical gel preparations supplier in Latin America and the Caribbean, comprising 93% of total exports. The second position in the ranking was taken by Panama ($X), with a 1.3% share of total exports. It was followed by Brazil, with a 1.2% share.

In Mexico, medical gel preparations exports shrank by an average annual rate of -2.5% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Panama (+2.7% per year) and Brazil (-19.9% per year).

Export Prices by Country

In 2022, the export price in Latin America and the Caribbean amounted to $X per ton, falling by -9.1% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.3%. The pace of growth was the most pronounced in 2014 an increase of 18%. As a result, the export price attained the peak level of $X per ton. From 2015 to 2022, the export prices remained at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mexico (+1.3%), while the other leaders experienced mixed trends in the export price figures.

Medical Gel Preparations Imports

Imports in Latin America and the Caribbean

In 2022, approx. X tons of gel preparations for human or veterinary medicine were imported in Latin America and the Caribbean; waning by -10.8% compared with 2021 figures. In general, imports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 with an increase of 88%. As a result, imports attained the peak of X tons. From 2014 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, medical gel preparations imports amounted to $X in 2022. Total imports indicated a prominent expansion from 2012 to 2022: its value increased at an average annual rate of +8.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +41.9% against 2020 indices. The pace of growth appeared the most rapid in 2019 when imports increased by 45%. As a result, imports attained the peak of $X. From 2020 to 2022, the growth of imports remained at a lower figure.

Imports by Country

In 2022, Mexico (X tons) represented the key importer of gel preparations for human or veterinary medicine, generating 37% of total imports. The Dominican Republic (X tons) took a 10% share (based on physical terms) of total imports, which put it in second place, followed by Venezuela (8.5%), Colombia (6.6%), Chile (6.5%), Brazil (5.5%) and Peru (4.6%). El Salvador (X tons), Panama (X tons), Guatemala (X tons), Ecuador (X tons) and Nicaragua (X tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to medical gel preparations imports into Mexico stood at -6.1%. At the same time, Panama (+27.5%), Peru (+26.5%), El Salvador (+19.1%), Chile (+16.6%), Venezuela (+12.6%), Colombia (+12.1%), Guatemala (+11.5%), Nicaragua (+9.6%), Brazil (+6.3%), the Dominican Republic (+5.9%) and Ecuador (+4.9%) displayed positive paces of growth. Moreover, Panama emerged as the fastest-growing importer imported in Latin America and the Caribbean, with a CAGR of +27.5% from 2012-2022. While the share of Venezuela (+5.8 p.p.), Chile (+5.1 p.p.), Colombia (+4.4 p.p.), the Dominican Republic (+4.3 p.p.), Peru (+4.1 p.p.), El Salvador (+2.7 p.p.), Panama (+2.7 p.p.), Brazil (+2.4 p.p.) and Guatemala (+1.8 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Mexico (-34.8 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Mexico ($X) constitutes the largest market for imported gel preparations for human or veterinary medicine in Latin America and the Caribbean, comprising 46% of total imports. The second position in the ranking was taken by Brazil ($X), with a 13% share of total imports. It was followed by the Dominican Republic, with a 9.9% share.

In Mexico, medical gel preparations imports increased at an average annual rate of +6.2% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Brazil (+11.6% per year) and the Dominican Republic (+12.3% per year).

Import Prices by Country

In 2022, the import price in Latin America and the Caribbean amounted to $X per ton, increasing by 19% against the previous year. Overall, the import price showed a resilient expansion. The most prominent rate of growth was recorded in 2014 when the import price increased by 140%. Over the period under review, import prices attained the maximum in 2022 and is likely to continue growth in years to come.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Brazil ($X per ton), while Venezuela ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Guatemala (+16.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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