Latin America and the Caribbean: Medicaments Containing Penicillin Market 2024

Medicaments Containing Penicillin Market Size in Latin America and the Caribbean

In 2021, the Latin American medicaments containing penicillin market was finally on the rise to reach $X after two years of decline. In general, consumption showed a prominent increase. As a result, consumption attained the peak level of $X. From 2019 to 2021, the growth of the market remained at a somewhat lower figure.

Medicaments Containing Penicillin Production in Latin America and the Caribbean

In value terms, medicaments containing penicillin production soared to $X in 2021 estimated in export price. Overall, production enjoyed a remarkable increase. The pace of growth was the most pronounced in 2018 with an increase of 105%. Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2021, production failed to regain momentum.

Medicaments Containing Penicillin Exports

Exports in Latin America and the Caribbean

In 2021, shipments abroad of medicaments containing penicillins or derivatives thereof increased by 42% to X tons, rising for the second consecutive year after two years of decline. Over the period under review, exports saw resilient growth. The pace of growth appeared the most rapid in 2017 when exports increased by 272% against the previous year. The volume of export peaked in 2021 and is expected to retain growth in the immediate term.

In value terms, medicaments containing penicillin exports surged to $X in 2021. In general, exports recorded a resilient increase. The pace of growth was the most pronounced in 2015 with an increase of 197% against the previous year. Over the period under review, the exports hit record highs in 2021 and are likely to continue growth in the immediate term.

Exports by Country

In 2021, El Salvador (X tons) was the major exporter of medicaments containing penicillins or derivatives thereof, making up 83% of total exports. It was distantly followed by Guatemala (X tons), creating an 11% share of total exports. Panama (X tons) and Ecuador (X tons) took a minor share of total exports.

El Salvador was also the fastest-growing in terms of the medicaments containing penicillins or derivatives thereof exports, with a CAGR of +31.7% from 2012 to 2021. At the same time, Guatemala (+26.8%) and Ecuador (+10.3%) displayed positive paces of growth. By contrast, Panama (-5.4%) illustrated a downward trend over the same period. From 2012 to 2021, the share of El Salvador and Guatemala increased by +64 and +7.1 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, El Salvador ($X) remains the largest medicaments containing penicillin supplier in Latin America and the Caribbean, comprising 78% of total exports. The second position in the ranking was taken by Panama ($X), with a 14% share of total exports. It was followed by Ecuador, with a 2% share.

In El Salvador, medicaments containing penicillin exports increased at an average annual rate of +63.8% over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: Panama (+12.1% per year) and Ecuador (+12.3% per year).

Export Prices by Country

In 2021, the export price in Latin America and the Caribbean amounted to $X per ton, reducing by -9.1% against the previous year. In general, the export price, however, enjoyed a measured expansion. The most prominent rate of growth was recorded in 2015 an increase of 119% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2016 to 2021, 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 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 El Salvador (+24.3%), while the other leaders experienced more modest paces of growth.

Medicaments Containing Penicillin Imports

Imports in Latin America and the Caribbean

In 2021, approx. X tons of medicaments containing penicillins or derivatives thereof were imported in Latin America and the Caribbean; falling by -10.3% against the year before. In general, imports saw a relatively flat trend pattern. The growth pace was the most rapid in 2017 with an increase of 29%. Over the period under review, imports hit record highs at X tons in 2018; however, from 2019 to 2021, imports failed to regain momentum.

In value terms, medicaments containing penicillin imports fell to $X in 2021. Total imports indicated measured growth from 2012 to 2021: its value increased at an average annual rate of +3.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +2.0% against 2019 indices. The pace of growth appeared the most rapid in 2017 with an increase of 50%. Over the period under review, imports reached the maximum at $X in 2020, and then dropped in the following year.

Imports by Country

Brazil (X tons) and Argentina (X tons) represented roughly 49% of total imports in 2021. Guatemala (X tons) took a 12% share (based on physical terms) of total imports, which put it in second place, followed by Colombia (9.4%), Nicaragua (9%) and Aruba (8.4%). Ecuador (X tons) followed a long way behind the leaders.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Guatemala (with a CAGR of +9.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Brazil ($X), Argentina ($X) and Aruba ($X) appeared to be the countries with the highest levels of imports in 2021, with a combined 79% share of total imports. Colombia, Guatemala, Nicaragua and Ecuador lagged somewhat behind, together comprising a further 14%.

In terms of the main importing countries, Guatemala, with a CAGR of +13.3%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Latin America and the Caribbean stood at $X per ton in 2021, approximately reflecting the previous year. Over the last nine years, it increased at an average annual rate of +4.2%. The most prominent rate of growth was recorded in 2017 an increase of 16%. Over the period under review, import prices hit record highs at $X per ton in 2020, and then fell in the following year.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Brazil (+9.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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