Oman: Market for Medicaments Containing Corticosteroid Hormones 2024

Market Size for Medicaments Containing Corticosteroid Hormones in Oman

The Omani medicaments containing corticosteroid hormones market stood at $X in 2021, standing approx. at 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). Over the period under review, consumption, however, continues to indicate a strong increase. Over the period under review, the market reached the maximum level in 2021 and is likely to see gradual growth in the near future.

Exports of Medicaments Containing Corticosteroid Hormones

Exports from Oman

In 2021, approx. X tons of medicaments containing corticosteroid hormones were exported from Oman; jumping by 76% against 2020 figures. In general, exports posted a remarkable increase. The pace of growth was the most pronounced in 2014 with an increase of 1,250% against the previous year. The exports peaked at X tons in 2016; however, from 2017 to 2021, the exports remained at a lower figure.

In value terms, medicaments containing corticosteroid hormones exports skyrocketed to $X in 2021. Overall, exports continue to indicate a buoyant increase. The pace of growth appeared the most rapid in 2014 when exports increased by 1,583% against the previous year. The exports peaked at $X in 2015; however, from 2016 to 2021, the exports remained at a lower figure.

Exports by Country

Saudi Arabia (X tons) was the main destination for medicaments containing corticosteroid hormones exports from Oman, with a 96% share of total exports. It was followed by Yemen (X kg), with a 2% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of volume to Saudi Arabia amounted to +37.8%.

In value terms, Saudi Arabia ($X) remains the key foreign market for medicaments containing corticosteroid hormones exports from Oman, comprising 87% of total exports. The second position in the ranking was taken by Yemen ($X), with a 0.7% share of total exports.

From 2012 to 2021, the average annual growth rate of value to Saudi Arabia stood at +38.2%.

Export Prices by Country

In 2021, the average medicaments containing corticosteroid hormones export price amounted to $X per ton, picking up by 13% against the previous year. In general, the export price showed a resilient increase. The pace of growth was the most pronounced in 2013 an increase of 195%. Over the period under review, the average export prices hit record highs at $X per ton in 2015; however, from 2016 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In 2021, the country with the highest price was Saudi Arabia ($X per ton), while the average price for exports to Yemen totaled $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Yemen (+18.1%).

Imports of Medicaments Containing Corticosteroid Hormones

Imports into Oman

In 2021, approx. X tons of medicaments containing corticosteroid hormones were imported into Oman; with a decrease of -29.3% on 2020 figures. In general, imports, however, saw buoyant growth. The pace of growth was the most pronounced in 2018 with an increase of 46% against the previous year. Imports peaked at X tons in 2020, and then dropped notably in the following year.

In value terms, medicaments containing corticosteroid hormones imports skyrocketed to $X in 2021. Overall, imports, however, saw a strong expansion. The growth pace was the most rapid in 2018 with an increase of 57% against the previous year. Over the period under review, imports attained the peak figure in 2021 and are expected to retain growth in the near future.

Imports by Country

Qatar (X tons), Saudi Arabia (X tons) and the United Arab Emirates (X tons) were the main suppliers of medicaments containing corticosteroid hormones imports to Oman, with a combined 47% share of total imports. India, the UK, Luxembourg, Egypt, Singapore, the Netherlands, Belgium, Canada, Jordan and Germany lagged somewhat behind, together comprising a further 26%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Singapore (with a CAGR of +87.4%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Qatar ($X) constituted the largest supplier of medicaments containing corticosteroid hormones to Oman, comprising 24% of total imports. The second position in the ranking was held by the United Arab Emirates ($X), with a 12% share of total imports. It was followed by the UK, with a 6% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Qatar stood at +19.3%. The remaining supplying countries recorded the following average annual rates of imports growth: the United Arab Emirates (+12.8% per year) and the UK (+12.2% per year).

Import Prices by Country

The average medicaments containing corticosteroid hormones import price stood at $X per ton in 2021, jumping by 74% against the previous year. Over the period under review, import price indicated a strong increase from 2012 to 2021: its price increased at an average annual rate of +6.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably country of origin: the country with the highest price was the Netherlands ($X per ton), while the price for Singapore ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Canada (+14.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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