Middle East: Medicaments Containing Insulin Market 2024

Medicaments Containing Insulin Market Size in the Middle East

The Middle Eastern medicaments containing insulin market rose slightly to $X in 2021, surging by 2.5% against the previous year. In general, consumption recorded modest growth. Over the period under review, the market attained the maximum level at $X in 2016; however, from 2017 to 2021, consumption stood at a somewhat lower figure.

Medicaments Containing Insulin Production in the Middle East

In value terms, medicaments containing insulin production fell significantly to $X in 2021 estimated in export price. Overall, production, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2020 when the production volume increased by 67%. Over the period under review, production attained the peak level at $X in 2018; however, from 2019 to 2021, production stood at a somewhat lower figure.

Medicaments Containing Insulin Exports

Exports in the Middle East

In 2021, after five years of growth, there was significant decline in overseas shipments of medicaments containing insulin but not antibiotics, when their volume decreased by -31.8% to X tons. Over the period under review, exports showed a perceptible curtailment. The pace of growth appeared the most rapid in 2020 when exports increased by 121%. As a result, the exports attained the peak of X tons, and then reduced notably in the following year.

In value terms, medicaments containing insulin exports declined sharply to $X in 2021. Overall, exports showed a abrupt decline. The most prominent rate of growth was recorded in 2020 when exports increased by 126% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

The United Arab Emirates (X tons) and Jordan (X tons) prevails in exports structure, together committing 94% of total exports. It was distantly followed by Israel (X kg), generating a 5.6% share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by Israel (with a CAGR of +39.9%), while the other leaders experienced mixed trends in the exports figures.

In value terms, the United Arab Emirates ($X) remains the largest medicaments containing insulin supplier in the Middle East, comprising 66% of total exports. The second position in the ranking was taken by Jordan ($X), with a 28% share of total exports.

From 2012 to 2021, the average annual growth rate of value in the United Arab Emirates amounted to -19.0%. In the other countries, the average annual rates were as follows: Jordan (-5.6% per year) and Israel (+14.6% per year).

Export Prices by Country

In 2021, the export price in the Middle East amounted to $X per ton, rising by 19% against the previous year. Over the period under review, the export price, however, continues to indicate a drastic downturn. The most prominent rate of growth was recorded in 2013 when the export price increased by 22%. As a result, the export price attained the peak level of $X per ton. From 2014 to 2021, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per ton), while Jordan ($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 (-7.2%), while the other leaders experienced a decline in the export price figures.

Medicaments Containing Insulin Imports

Imports in the Middle East

In 2021, imports of medicaments containing insulin but not antibiotics in the Middle East dropped to X tons, declining by -9.8% on 2020. In general, imports, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2016 when imports increased by 127% against the previous year. As a result, imports attained the peak of X tons. From 2017 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, medicaments containing insulin imports soared to $X in 2021. Overall, imports recorded a pronounced decrease. The growth pace was the most rapid in 2019 when imports increased by 116% against the previous year. As a result, imports attained the peak of $X. From 2020 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2021, Kuwait (X tons) was the main importer of medicaments containing insulin but not antibiotics, creating 82% of total imports. It was distantly followed by Iran (X tons), committing a 10% share of total imports. Qatar (X tons) and Iraq (X tons) followed a long way behind the leaders.

Kuwait was also the fastest-growing in terms of the medicaments containing insulin but not antibiotics imports, with a CAGR of +8.8% from 2012 to 2021. At the same time, Iran (+4.0%) displayed positive paces of growth. By contrast, Qatar (-13.4%) and Iraq (-20.2%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Kuwait and Iran increased by +42 and +2.8 percentage points, respectively.

In value terms, Kuwait ($X) constitutes the largest market for imported medicaments containing insulin but not antibiotics in the Middle East, comprising 43% of total imports. The second position in the ranking was held by Iran ($X), with a 9.7% share of total imports. It was followed by Iraq, with a 1.8% share.

From 2012 to 2021, the average annual growth rate of value in Kuwait amounted to +2.9%. The remaining importing countries recorded the following average annual rates of imports growth: Iran (-18.6% per year) and Iraq (-16.9% per year).

Import Prices by Country

In 2021, the import price in the Middle East amounted to $X per ton, increasing by 53% against the previous year. Over the period under review, the import price, however, showed a perceptible decline. The growth pace was the most rapid in 2017 when the import price increased by 169%. The level of import peaked at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Iraq (+4.3%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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