Nigeria: Medicaments Containing Penicillin Market 2024

Medicaments Containing Penicillin Market Size in Nigeria

After two years of decline, the Nigerien medicaments containing penicillin market increased by 7.4% to $X in 2021. In general, consumption posted resilient growth. As a result, consumption attained the peak level of $X. From 2019 to 2021, the growth of the market remained at a lower figure.

Medicaments Containing Penicillin Production in Nigeria

In value terms, medicaments containing penicillin production rose remarkably to $X in 2021 estimated in export price. Over the period under review, production showed a prominent increase. The pace of growth was the most pronounced in 2018 when the production volume increased by 113%. As a result, production attained the peak level of $X. From 2019 to 2021, production growth remained at a lower figure.

Medicaments Containing Penicillin Exports

Exports from Nigeria

In 2021, overseas shipments of medicaments containing penicillins or derivatives thereof decreased by -14.8% to X kg, falling for the eighth year in a row after two years of growth. In general, exports faced a sharp reduction. The pace of growth appeared the most rapid in 2013 with an increase of 272%. As a result, the exports reached the peak of X tons. From 2014 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, medicaments containing penicillin exports declined to $X in 2021. Overall, exports saw a dramatic contraction. The pace of growth was the most pronounced in 2013 with an increase of 181%. As a result, the exports attained the peak of $X. From 2014 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Ghana (X kg), Liberia (X kg) and Antigua and Barbuda (X kg) were the main destinations of medicaments containing penicillin exports from Nigeria, with a combined 97% share of total exports.

From 2012 to 2021, the biggest increases were recorded for Liberia (with a CAGR of -20.1%), while shipments for the other leaders experienced a decline.

In value terms, Liberia ($X) remains the key foreign market for medicaments containing penicillins or derivatives thereof exports from Nigeria, comprising 84% of total exports. The second position in the ranking was held by Antigua and Barbuda ($X), with an 8.9% share of total exports. It was followed by Ghana, with a 5.4% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Liberia amounted to -5.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Antigua and Barbuda (-27.4% per year) and Ghana (-44.9% per year).

Export Prices by Country

In 2021, the average medicaments containing penicillin export price amounted to $X per ton, increasing by 2.6% against the previous year. Overall, the export price enjoyed a resilient expansion. The pace of growth was the most pronounced in 2018 an increase of 55%. The export price peaked in 2021 and is expected to retain growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Liberia ($X per ton), while the average price for exports to Ghana ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Sierra Leone (+19.6%), while the prices for the other major destinations experienced more modest paces of growth.

Medicaments Containing Penicillin Imports

Imports into Nigeria

In 2021, purchases abroad of medicaments containing penicillins or derivatives thereof decreased by -0.1% to X tons for the first time since 2018, thus ending a two-year rising trend. Overall, imports, however, posted a significant expansion. The most prominent rate of growth was recorded in 2014 with an increase of 304% against the previous year. Imports peaked at X tons in 2020, and then reduced in the following year.

In value terms, medicaments containing penicillin imports rose remarkably to $X in 2021. Over the period under review, imports, however, continue to indicate a significant expansion. The most prominent rate of growth was recorded in 2014 when imports increased by 373%. Imports peaked in 2021 and are likely to continue growth in years to come.

Imports by Country

In 2021, France (X tons) constituted the largest supplier of medicaments containing penicillin to Nigeria, with a 35% share of total imports. Moreover, medicaments containing penicillin imports from France exceeded the figures recorded by the second-largest supplier, India (X tons), twofold. The third position in this ranking was taken by Indonesia (X tons), with a 14% share.

From 2012 to 2021, the average annual growth rate of volume from France totaled +178.3%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+24.3% per year) and Indonesia (-60.5% per year).

In value terms, France ($X) constituted the largest supplier of medicaments containing penicillins or derivatives thereof to Nigeria, comprising 70% of total imports. The second position in the ranking was taken by the UK ($X), with a 7.5% share of total imports. It was followed by India, with a 6.1% share.

From 2012 to 2021, the average annual rate of growth in terms of value from France totaled +209.7%. The remaining supplying countries recorded the following average annual rates of imports growth: the UK (+177.4% per year) and India (+21.4% per year).

Import Prices by Country

The average medicaments containing penicillin import price stood at $X per ton in 2021, with an increase of 6.2% against the previous year. Overall, the import price continues to indicate a resilient increase. The pace of growth appeared the most rapid in 2013 when the average import price increased by 182%. The import price peaked in 2021 and is expected to retain growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was France ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Pakistan (+23.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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