Middle East: Market for Medicaments Containing Corticosteroid Hormones 2024

Market Size for Medicaments Containing Corticosteroid Hormones in the Middle East

After two years of decline, the Middle Eastern medicaments containing corticosteroid hormones market increased by 31% to $X in 2021. The total consumption indicated noticeable growth from 2012 to 2021: its value increased at an average annual rate of +4.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The level of consumption peaked at $X in 2018; however, from 2019 to 2021, consumption failed to regain momentum.

Production of Medicaments Containing Corticosteroid Hormones in the Middle East

In value terms, medicaments containing corticosteroid hormones production surged to $X in 2021 estimated in export price. Over the period under review, production, however, saw a abrupt downturn. The pace of growth appeared the most rapid in 2014 when the production volume increased by 55% against the previous year. As a result, production attained the peak level of $X. From 2015 to 2021, production growth remained at a somewhat lower figure.

Exports of Medicaments Containing Corticosteroid Hormones

Exports in the Middle East

In 2021, overseas shipments of medicaments containing corticosteroid hormones increased by 119% to X tons for the first time since 2017, thus ending a three-year declining trend. In general, exports continue to indicate a strong increase. The pace of growth appeared the most rapid in 2017 with an increase of 148% 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 corticosteroid hormones exports soared to $X in 2021. Over the period under review, exports, however, recorded a deep slump. The most prominent rate of growth was recorded in 2014 when exports increased by 222% against the previous year. As a result, the exports reached the peak of $X. From 2015 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

In 2021, Turkey (X tons) represented the key exporter of medicaments containing corticosteroid hormones, constituting 77% of total exports. It was distantly followed by the United Arab Emirates (X tons), constituting a 16% share of total exports. Saudi Arabia (X tons) followed a long way behind the leaders.

Turkey was also the fastest-growing in terms of the medicaments containing corticosteroid hormones exports, with a CAGR of +25.8% from 2012 to 2021. At the same time, the United Arab Emirates (+18.9%) displayed positive paces of growth. By contrast, Saudi Arabia (-20.0%) illustrated a downward trend over the same period. While the share of Turkey (+61 p.p.) and the United Arab Emirates (+11 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Saudi Arabia (-41.8 p.p.) displayed negative dynamics.

In value terms, the largest medicaments containing corticosteroid hormones supplying countries in the Middle East were Turkey ($X), the United Arab Emirates ($X) and Saudi Arabia ($X), with a combined 91% share of total exports.

In terms of the main exporting countries, the United Arab Emirates, with a CAGR of +13.8%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

In 2021, the export price in the Middle East amounted to $X per ton, which is down by -36% against the previous year. In general, the export price showed a dramatic downturn. The most prominent rate of growth was recorded in 2014 an increase of 115% against the previous year. The level of export peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Saudi Arabia (+4.9%), while the other leaders experienced a decline in the export price figures.

Imports of Medicaments Containing Corticosteroid Hormones

Imports in the Middle East

In 2021, supplies from abroad of medicaments containing corticosteroid hormones increased by 25% to X tons for the first time since 2018, thus ending a two-year declining trend. Total imports indicated a noticeable increase from 2012 to 2021: its volume increased at an average annual rate of +4.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2018 when imports increased by 29%. As a result, imports attained the peak of X tons. From 2019 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, medicaments containing corticosteroid hormones imports skyrocketed to $X in 2021. Total imports indicated a temperate increase from 2012 to 2021: its value increased at an average annual rate of +3.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2018 with an increase of 28% against the previous year. As a result, imports reached the peak of $X. From 2019 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

The countries with the highest levels of medicaments containing corticosteroid hormones imports in 2021 were Saudi Arabia (X tons), Turkey (X tons), Iran (X tons) and the United Arab Emirates (X tons), together amounting to 74% of total import. It was distantly followed by Iraq (X tons), comprising a 5.2% share of total imports. Kuwait (X tons), Israel (X tons), Jordan (X tons), Oman (X tons), Lebanon (X tons) and Yemen (X tons) took a little share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Israel (with a CAGR of +35.2%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Turkey ($X), the United Arab Emirates ($X) and Israel ($X) constituted the countries with the highest levels of imports in 2021, together comprising 59% of total imports.

In terms of the main importing countries, Israel, with a CAGR of +45.7%, saw the highest growth rate of 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 the Middle East stood at $X per ton in 2021, remaining constant against the previous year. In general, the import price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 an increase of 13%. Over the period under review, import prices attained the maximum at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Jordan (+8.8%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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