Latvia: Market for Medicaments Containing Insulin But Not Antibiotics In Measured Doses 2024

Market Size for Medicaments Containing Insulin But Not Antibiotics In Measured Doses in Latvia

The Latvian prophylactic medicaments containing insulin market contracted to $X in 2022, which is down by -6.7% against the previous year. In general, consumption showed a perceptible slump. Over the period under review, the market reached the maximum level at $X in 2018; however, from 2019 to 2022, consumption remained at a lower figure.

Production of Medicaments Containing Insulin But Not Antibiotics In Measured Doses in Latvia

In value terms, prophylactic medicaments containing insulin production declined to $X in 2022 estimated in export price. Over the period under review, production showed a noticeable curtailment. The pace of growth appeared the most rapid in 2013 with an increase of 27% against the previous year. Prophylactic medicaments containing insulin production peaked at $X in 2014; however, from 2015 to 2022, production stood at a somewhat lower figure.

Exports of Medicaments Containing Insulin But Not Antibiotics In Measured Doses

Exports from Latvia

For the fourth year in a row, Latvia recorded decline in shipments abroad of medicaments containing insulin but not antibiotics in measured doses, which decreased by -4.2% to X tons in 2022. In general, exports, however, continue to indicate a significant increase. The growth pace was the most rapid in 2014 with an increase of 48,218% against the previous year. The exports peaked at X tons in 2015; however, from 2016 to 2022, the exports stood at a somewhat lower figure.

In value terms, prophylactic medicaments containing insulin exports declined to $X in 2022. Overall, exports, however, enjoyed significant growth. The growth pace was the most rapid in 2014 with an increase of 77,168% against the previous year. The exports peaked at $X in 2016; however, from 2017 to 2022, the exports failed to regain momentum.

Exports by Country

Lithuania (X tons) was the main destination for prophylactic medicaments containing insulin exports from Latvia, accounting for a 70% share of total exports. Moreover, prophylactic medicaments containing insulin exports to Lithuania exceeded the volume sent to the second major destination, Estonia (X tons), twofold.

From 2013 to 2022, the average annual rate of growth in terms of volume to Lithuania totaled +91.6%.

In value terms, Estonia ($X) and Lithuania ($X) constituted the largest markets for prophylactic medicaments containing insulin exported from Latvia worldwide.

Among the main countries of destination, Lithuania, with a CAGR of +88.2%, saw the highest rates of growth with regard to the value of exports, over the period under review.

Export Prices by Country

In 2022, the average prophylactic medicaments containing insulin export price amounted to $X per ton, with a decrease of -11% against the previous year. Over the period from 2013 to 2022, it increased at an average annual rate of +3.0%. The growth pace was the most rapid in 2014 an increase of 60%. As a result, the export price reached the peak level of $X per ton. From 2015 to 2022, the average export prices failed to regain momentum.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Estonia ($X per ton), while the average price for exports to Lithuania totaled $X per ton.

From 2013 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Estonia (-0.1%).

Imports of Medicaments Containing Insulin But Not Antibiotics In Measured Doses

Imports into Latvia

In 2022, imports of medicaments containing insulin but not antibiotics in measured doses into Latvia plummeted to X tons, declining by -58.8% on the previous year. Over the period under review, imports faced a deep slump. The pace of growth was the most pronounced in 2014 when imports increased by 270% against the previous year. As a result, imports reached the peak of X tons. From 2015 to 2022, the growth of imports remained at a lower figure.

In value terms, prophylactic medicaments containing insulin imports reduced notably to $X in 2022. In general, imports saw a abrupt downturn. The most prominent rate of growth was recorded in 2014 with an increase of 132%. As a result, imports attained the peak of $X. From 2015 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2022, France (X tons) constituted the largest supplier of prophylactic medicaments containing insulin to Latvia, accounting for a 82% share of total imports. Moreover, prophylactic medicaments containing insulin imports from France exceeded the figures recorded by the second-largest supplier, Germany (X kg), sevenfold. The third position in this ranking was held by Slovenia (X kg), with a 4.5% share.

From 2012 to 2022, the average annual growth rate of volume from France stood at +3.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-11.7% per year) and Slovenia (0.0% per year).

In value terms, France ($X) constituted the largest supplier of medicaments containing insulin but not antibiotics in measured doses to Latvia, comprising 59% of total imports. The second position in the ranking was taken by Slovenia ($X), with a 29% share of total imports. It was followed by Germany, with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of value from France was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Slovenia (0.0% per year) and Germany (-15.9% per year).

Import Prices by Country

The average prophylactic medicaments containing insulin import price stood at $X per ton in 2022, dropping by -5.9% against the previous year. Over the period under review, the import price recorded a noticeable curtailment. The most prominent rate of growth was recorded in 2013 an increase of 30%. As a result, import price reached the peak level of $X per ton. From 2014 to 2022, the average import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Slovenia ($X per ton), while the price for the Czech Republic ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Czech Republic (+0.9%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform