Latin America and the Caribbean: Market for Medicaments Containing Corticosteroid Hormones 2024

Market Size for Medicaments Containing Corticosteroid Hormones in Latin America and the Caribbean

For the fifth consecutive year, the Latin American medicaments containing corticosteroid hormones market recorded growth in sales value, which increased by 0.4% to $X in 2021. The market value increased at an average annual rate of +1.8% over the period from 2012 to 2021; the trend pattern remained relatively stable, with only minor fluctuations being observed throughout the analyzed period. As a result, consumption attained the peak level of $X. From 2014 to 2021, the growth of the market remained at a lower figure.

Production of Medicaments Containing Corticosteroid Hormones in Latin America and the Caribbean

In value terms, medicaments containing corticosteroid hormones production totaled $X in 2021 estimated in export price. The total output value increased at an average annual rate of +5.2% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2013 when the production volume increased by 57%. Over the period under review, production attained the peak level at $X in 2015; however, from 2016 to 2021, production remained at a lower figure.

Exports of Medicaments Containing Corticosteroid Hormones

Exports in Latin America and the Caribbean

In 2021, overseas shipments of medicaments containing corticosteroid hormones decreased by -0.2% to X tons, falling for the fourth consecutive year after three years of growth. Total exports indicated a buoyant increase from 2012 to 2021: its volume increased at an average annual rate of +5.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports decreased by -11.8% against 2017 indices. The most prominent rate of growth was recorded in 2015 with an increase of 50%. The volume of export peaked at X tons in 2017; however, from 2018 to 2021, the exports stood at a somewhat lower figure.

In value terms, medicaments containing corticosteroid hormones exports shrank to $X in 2021. In general, exports, however, continue to indicate a mild increase. The most prominent rate of growth was recorded in 2015 when exports increased by 39% against the previous year. Over the period under review, the exports hit record highs at $X in 2017; however, from 2018 to 2021, the exports failed to regain momentum.

Exports by Country

Brazil represented the main exporter of medicaments containing corticosteroid hormones in Latin America and the Caribbean, with the volume of exports accounting for X tons, which was near 58% of total exports in 2021. Argentina (X tons) held an 18% share (based on physical terms) of total exports, which put it in second place, followed by Mexico (9.3%) and Colombia (4.7%). The following exporters - Guatemala (X tons) and Chile (X tons) - each amounted to a 3.7% share of total exports.

Brazil was also the fastest-growing in terms of the medicaments containing corticosteroid hormones exports, with a CAGR of +19.2% from 2012 to 2021. At the same time, Guatemala (+4.1%) and Argentina (+3.2%) displayed positive paces of growth. By contrast, Colombia (-2.4%), Mexico (-7.7%) and Chile (-8.1%) illustrated a downward trend over the same period. Brazil (+39 p.p.) significantly strengthened its position in terms of the total exports, while Argentina, Chile, Colombia and Mexico saw its share reduced by -3.6%, -4.1%, -4.7% and -21.3% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest medicaments containing corticosteroid hormones supplying countries in Latin America and the Caribbean were Brazil ($X), Argentina ($X) and Mexico ($X), with a combined 78% share of total exports. These countries were followed by Colombia, Guatemala and Chile, which together accounted for a further 12%.

Guatemala, with a CAGR of +10.7%, recorded the highest rates of growth with regard to the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the export price in Latin America and the Caribbean amounted to $X per ton, declining by -8.1% against the previous year. Overall, the export price continues to indicate a perceptible reduction. The most prominent rate of growth was recorded in 2014 when the export price increased by 11%. As a result, the export price attained the peak level of $X per ton. From 2015 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was Argentina ($X per ton), while Brazil ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Guatemala (+6.3%), while the other leaders experienced more modest paces of growth.

Imports of Medicaments Containing Corticosteroid Hormones

Imports in Latin America and the Caribbean

In 2021, purchases abroad of medicaments containing corticosteroid hormones was finally on the rise to reach X tons for the first time since 2018, thus ending a two-year declining trend. Over the period under review, imports, however, saw a perceptible setback. The most prominent rate of growth was recorded in 2015 when imports increased by 17%. The volume of import peaked at X tons in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

In value terms, medicaments containing corticosteroid hormones imports expanded rapidly to $X in 2021. Overall, imports, however, continue to indicate a mild contraction. The most prominent rate of growth was recorded in 2017 when imports increased by 13%. The level of import peaked at $X in 2013; however, from 2014 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, Brazil (X tons), distantly followed by Nicaragua (X tons), Mexico (X tons), Chile (X tons), Colombia (X tons), Argentina (X tons) and Ecuador (X tons) represented the largest importers of medicaments containing corticosteroid hormones, together mixing up 78% of total imports. The following importers - Peru (X tons), Honduras (X tons), El Salvador (X tons), Costa Rica (X tons), Guatemala (X tons) and Bolivia (X tons) - together made up 14% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Costa Rica (with a CAGR of +15.4%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Brazil ($X) constitutes the largest market for imported medicaments containing corticosteroid hormones in Latin America and the Caribbean, comprising 40% of total imports. The second position in the ranking was taken by Mexico ($X), with a 13% share of total imports. It was followed by Argentina, with an 11% share.

In Brazil, medicaments containing corticosteroid hormones imports expanded at an average annual rate of +2.5% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: Mexico (-2.7% per year) and Argentina (+5.0% per year).

Import Prices by Country

In 2021, the import price in Latin America and the Caribbean amounted to $X per ton, dropping by -4.7% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +2.1%. The most prominent rate of growth was recorded in 2014 an increase of 21% against the previous year. As a result, import price attained the peak level of $X per ton. From 2015 to 2021, the import prices remained at a somewhat lower figure.

Prices varied noticeably country of destination: the country with the highest price was Argentina ($X per ton), while Nicaragua ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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