MERCOSUR: Market for Medicaments Containing Corticosteroid Hormones 2024

Market Size for Medicaments Containing Corticosteroid Hormones in MERCOSUR

The MERCOSUR medicaments containing corticosteroid hormones market expanded markedly to $X in 2021, growing by 10% against the previous year. In general, consumption, however, saw a mild curtailment. Over the period under review, the market reached the maximum level at $X in 2013; however, from 2014 to 2021, consumption remained at a lower figure.

Production of Medicaments Containing Corticosteroid Hormones in MERCOSUR

In value terms, medicaments containing corticosteroid hormones production reduced slightly to $X in 2021 estimated in export price. Over the period under review, production recorded a pronounced reduction. The pace of growth was the most pronounced in 2017 when the production volume increased by 22%. Over the period under review, production attained the peak level at $X in 2013; however, from 2014 to 2021, production remained at a lower figure.

Exports of Medicaments Containing Corticosteroid Hormones

Exports in MERCOSUR

In 2021, overseas shipments of medicaments containing corticosteroid hormones decreased by -6.2% to X tons, falling for the fourth consecutive year after three years of growth. Overall, exports, however, posted a buoyant increase. The most prominent rate of growth was recorded in 2015 with an increase of 125%. Over the period under review, the exports attained the maximum at X tons in 2017; however, from 2018 to 2021, the exports remained at a lower figure.

In value terms, medicaments containing corticosteroid hormones exports shrank to $X in 2021. Total exports indicated a perceptible expansion from 2012 to 2021: its value increased at an average annual rate of +2.0% 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 -31.1% against 2017 indices. The growth pace was the most rapid in 2015 when exports increased by 76%. The level of export peaked at $X in 2017; however, from 2018 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Brazil represented the major exporter of medicaments containing corticosteroid hormones in MERCOSUR, with the volume of exports resulting at X tons, which was near 68% of total exports in 2021. Argentina (X tons) ranks second in terms of the total exports with a 21% share, followed by Colombia (5.6%). Chile (X tons) followed a long way behind the leaders.

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, Argentina (+3.2%) displayed positive paces of growth. By contrast, Colombia (-2.4%) and Chile (-8.1%) illustrated a downward trend over the same period. Brazil (+37 p.p.) significantly strengthened its position in terms of the total exports, while Chile, Colombia and Argentina saw its share reduced by -7.6%, -9.9% and -14.2% from 2012 to 2021, respectively.

In value terms, Brazil ($X), Argentina ($X) and Colombia ($X) appeared to be the countries with the highest levels of exports in 2021, together comprising 91% of total exports.

Brazil, with a CAGR of +4.1%, recorded the highest growth rate of the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

The export price in MERCOSUR stood at $X per ton in 2021, remaining relatively unchanged against the previous year. In general, the export price, however, continues to indicate a abrupt decrease. The pace of growth was the most pronounced in 2013 an increase of 1.1%. Over the period under review, the export prices reached the maximum at $X per ton in 2014; however, from 2015 to 2021, the export prices failed to regain momentum.

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 Chile (+4.2%), while the other leaders experienced mixed trends in the export price figures.

Imports of Medicaments Containing Corticosteroid Hormones

Imports in MERCOSUR

For the fifth year in a row, MERCOSUR recorded growth in overseas purchases of medicaments containing corticosteroid hormones, which increased by 15% to X tons in 2021. The total import volume increased at an average annual rate of +4.1% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2015 when imports increased by 29%. The volume of import peaked in 2021 and is expected to retain growth in years to come.

In value terms, medicaments containing corticosteroid hormones imports surged to $X in 2021. The total import value increased at an average annual rate of +1.6% from 2012 to 2021; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations throughout the analyzed period. The level of import peaked at $X in 2013; afterwards, it flattened through to 2021.

Imports by Country

Brazil represented the key importer of medicaments containing corticosteroid hormones in MERCOSUR, with the volume of imports accounting for X tons, which was approx. 44% of total imports in 2021. It was distantly followed by Chile (X tons), Colombia (X tons), Argentina (X tons), Ecuador (X tons) and Peru (X tons), together achieving a 50% share of total imports. Uruguay (X tons) held a minor share of total imports.

Imports into Brazil increased at an average annual rate of +10.6% from 2012 to 2021. At the same time, Chile (+13.3%), Argentina (+8.2%), Colombia (+5.2%) and Uruguay (+1.6%) displayed positive paces of growth. Moreover, Chile emerged as the fastest-growing importer imported in MERCOSUR, with a CAGR of +13.3% from 2012-2021. By contrast, Peru (-3.7%) and Ecuador (-5.7%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Brazil, Chile and Argentina increased by +19, +6.8 and +3.3 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Brazil ($X) constitutes the largest market for imported medicaments containing corticosteroid hormones in MERCOSUR, comprising 51% of total imports. The second position in the ranking was held by Argentina ($X), with a 14% share of total imports. It was followed by Colombia, with a 13% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Brazil totaled +2.5%. The remaining importing countries recorded the following average annual rates of imports growth: Argentina (+5.0% per year) and Colombia (+6.6% per year).

Import Prices by Country

The import price in MERCOSUR stood at $X per ton in 2021, surging by 2.1% against the previous year. In general, the import price, however, showed a pronounced reduction. The most prominent rate of growth was recorded in 2016 an increase of 3.4%. The level of import peaked at $X per ton in 2014; however, from 2015 to 2021, import prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Colombia (+1.3%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform