Nigeria: Medicaments Containing Hormones Market 2024

Medicaments Containing Hormones Market Size in Nigeria

The Nigerien medicaments containing hormones market declined dramatically to $X in 2022, which is down by X% 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, however, enjoyed noticeable growth. Medicaments containing hormones consumption peaked at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Medicaments Containing Hormones Exports

Exports from Nigeria

In 2022, shipments abroad of medicaments containing hormones but not antibiotics decreased by X% to X tons for the first time since 2018, thus ending a three-year rising trend. In general, exports, however, posted a significant expansion. The growth pace was the most rapid in 2014 when exports increased by X%. Over the period under review, the exports hit record highs at X tons in 2021, and then reduced remarkably in the following year.

In value terms, medicaments containing hormones exports contracted dramatically to $X in 2022. Overall, exports, however, recorded a significant expansion. The most prominent rate of growth was recorded in 2014 when exports increased by X%. The exports peaked at $X in 2021, and then reduced markedly in the following year.

Exports by Country

Benin (X tons), Ghana (X tons) and Botswana (X kg) were the main destinations of medicaments containing hormones exports from Nigeria, together comprising X% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Botswana (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, Benin ($X) remains the key foreign market for medicaments containing hormones but not antibiotics exports from Nigeria, comprising X% of total exports. The second position in the ranking was taken by Ghana ($X), with a X% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Benin stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Ghana (X% per year) and Botswana (X% per year).

Export Prices by Country

The average medicaments containing hormones export price stood at $X per ton in 2022, rising by X% against the previous year. In general, the export price continues to indicate a significant expansion. The growth pace was the most rapid in 2020 when the average export price increased by X%. The export price peaked in 2022 and is likely to continue growth in the near future.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Benin ($X per ton), while the average price for exports to Ghana ($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 Benin (X%), while the prices for the other major destinations experienced more modest paces of growth.

Medicaments Containing Hormones Imports

Imports into Nigeria

In 2022, imports of medicaments containing hormones but not antibiotics into Nigeria shrank remarkably to X tons, reducing by X% on the previous year. In general, imports, however, enjoyed a remarkable increase. The growth pace was the most rapid in 2015 when imports increased by X%. Imports peaked at X tons in 2020; however, from 2021 to 2022, imports failed to regain momentum.

In value terms, medicaments containing hormones imports dropped markedly to $X in 2022. Overall, imports, however, enjoyed a tangible increase. The most prominent rate of growth was recorded in 2015 when imports increased by X%. Over the period under review, imports reached the peak figure at $X in 2020; however, from 2021 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Indonesia (X tons) was the main medicaments containing hormones supplier to Nigeria, accounting for a X% share of total imports. Moreover, medicaments containing hormones imports from Indonesia exceeded the figures recorded by the second-largest supplier, India (X tons), more than tenfold.

From 2012 to 2022, the average annual rate of growth in terms of volume from Indonesia amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: India (X% per year) and China (X% per year).

In value terms, Indonesia ($X) constituted the largest supplier of medicaments containing hormones but not antibiotics to Nigeria, comprising X% of total imports. The second position in the ranking was held by India ($X), with an X% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from Indonesia totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: India (X% per year) and China (X% per year).

Import Prices by Country

The average medicaments containing hormones import price stood at $X per ton in 2022, dropping by X% against the previous year. In general, the import price showed a noticeable contraction. The most prominent rate of growth was recorded in 2019 when the average import price increased by X% against the previous year. Over the period under review, average import prices reached the maximum at $X per ton in 2020; however, from 2021 to 2022, 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 India ($X per ton), while the price for China ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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