Latvia: Market for Medicaments Of Penicillins, Streptomycins Or Derivatives Thereof 2024

Market Size for Medicaments Of Penicillins, Streptomycins Or Derivatives Thereof in Latvia

The Latvian penicillins or streptomycins medicaments market contracted notably to $X in 2022, declining by -52.7% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption continues to indicate a perceptible curtailment. Over the period under review, the market reached the peak level at $X in 2021, and then shrank notably in the following year.

Exports of Medicaments Of Penicillins, Streptomycins Or Derivatives Thereof

Exports from Latvia

After two years of growth, shipments abroad of medicaments of penicillins, streptomycins or derivatives thereof decreased by -79.4% to X tons in 2022. Overall, exports continue to indicate a noticeable downturn. The growth pace was the most rapid in 2020 when exports increased by 406%. Over the period under review, the exports reached the maximum at X tons in 2016; however, from 2017 to 2022, the exports remained at a lower figure.

In value terms, penicillins or streptomycins medicaments exports declined notably to $X in 2022. In general, exports showed a perceptible downturn. The pace of growth appeared the most rapid in 2020 with an increase of 182%. The exports peaked at $X in 2016; however, from 2017 to 2022, the exports remained at a lower figure.

Exports by Country

Belarus (X tons) was the main destination for penicillins or streptomycins medicaments exports from Latvia, accounting for a 73% share of total exports. Moreover, penicillins or streptomycins medicaments exports to Belarus exceeded the volume sent to the second major destination, Georgia (X kg), sevenfold. Estonia (X kg) ranked third in terms of total exports with a 10% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Belarus was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Georgia (0.0% per year) and Estonia (-22.8% per year).

In value terms, Belarus ($X) emerged as the key foreign market for medicaments of penicillins, streptomycins or derivatives thereof exports from Latvia, comprising 83% of total exports. The second position in the ranking was taken by Estonia ($X), with a 7.1% share of total exports. It was followed by Georgia, with a 4.9% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Belarus was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Estonia (-26.3% per year) and Georgia (0.0% per year).

Export Prices by Country

The average penicillins or streptomycins medicaments export price stood at $X per ton in 2022, increasing by 30% against the previous year. In general, the export price, however, saw a slight decline. The pace of growth was the most pronounced in 2019 when the average export price increased by 113% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2020 to 2022, the average export prices remained at a somewhat lower figure.

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 Belarus ($X per ton), while the average price for exports to Georgia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Lithuania (-0.2%), while the prices for the other major destinations experienced a decline.

Imports of Medicaments Of Penicillins, Streptomycins Or Derivatives Thereof

Imports into Latvia

After two years of growth, supplies from abroad of medicaments of penicillins, streptomycins or derivatives thereof decreased by -64.6% to X tons in 2022. Over the period under review, imports, however, showed a moderate expansion. The most prominent rate of growth was recorded in 2016 with an increase of 95%. Over the period under review, imports attained the peak figure at X tons in 2021, and then shrank markedly in the following year.

In value terms, penicillins or streptomycins medicaments imports contracted sharply to $X in 2022. In general, imports continue to indicate a abrupt contraction. The most prominent rate of growth was recorded in 2014 when imports increased by 71%. As a result, imports reached the peak of $X. From 2015 to 2022, the growth of imports failed to regain momentum.

Imports by Country

Ireland (X tons), Lithuania (X tons) and the UK (X tons) were the main suppliers of penicillins or streptomycins medicaments imports to Latvia, with a combined 89% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the UK (with a CAGR of +55.5%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Lithuania ($X) constituted the largest supplier of medicaments of penicillins, streptomycins or derivatives thereof to Latvia, comprising 67% of total imports. The second position in the ranking was held by Ireland ($X), with an 11% share of total imports. It was followed by the UK, with a 7.7% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Lithuania stood at +7.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Ireland (+6.6% per year) and the UK (+24.9% per year).

Import Prices by Country

The average penicillins or streptomycins medicaments import price stood at $X per ton in 2022, rising by 20% against the previous year. In general, the import price, however, saw a deep setback. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Poland ($X per ton), while the price for Ireland ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Belgium (+1.1%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform