Panama: Adhesive Bandage Market 2024

Adhesive Bandage Market Size in Panama

The Panamanian adhesive bandage market skyrocketed to $X in 2022, jumping by 15% against the previous year. Over the period under review, consumption showed a resilient increase. Adhesive bandage consumption peaked at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Adhesive Bandage Production in Panama

In value terms, adhesive bandage production rose remarkably to $X in 2022 estimated in export price. In general, production posted strong growth. The growth pace was the most rapid in 2018 with an increase of 112%. Adhesive bandage production peaked at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Adhesive Bandage Exports

Exports from Panama

Adhesive bandage exports from Panama skyrocketed to X tons in 2022, growing by 83% on the previous year. Over the period under review, exports, however, saw a sharp decline. The pace of growth appeared the most rapid in 2015 when exports increased by 136%. Over the period under review, the exports hit record highs at X tons in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

In value terms, adhesive bandage exports soared to $X in 2022. In general, exports, however, showed a deep reduction. The pace of growth was the most pronounced in 2019 when exports increased by 188%. The exports peaked at $X in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

Exports by Country

Costa Rica (X tons), Nicaragua (X tons) and Guatemala (X tons) were the main destinations of adhesive bandage exports from Panama, together comprising 70% of total exports. These countries were followed by Barbados, Honduras, Venezuela and the Dominican Republic, which together accounted for a further 25%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Barbados (with a CAGR of +8.2%), while the other leaders experienced a decline.

In value terms, Costa Rica ($X), Guatemala ($X) and Nicaragua ($X) were the largest markets for adhesive bandage exported from Panama worldwide, together accounting for 71% of total exports. Barbados, Honduras, Venezuela and the Dominican Republic lagged somewhat behind, together comprising a further 25%.

In terms of the main countries of destination, Barbados, with a CAGR of +15.5%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced a decline.

Export Prices by Country

In 2022, the average adhesive bandage export price amounted to $X per ton, which is down by -7% against the previous year. Over the period under review, the export price, however, continues to indicate a prominent increase. The pace of growth was the most pronounced in 2016 an increase of 83% against the previous year. The export price peaked at $X per ton in 2019; however, from 2020 to 2022, the export prices stood at a somewhat lower figure.

Average prices varied noticeably for the major foreign markets. In 2022, amid the top suppliers, the countries with the highest prices were Guatemala ($X per ton) and the Dominican Republic ($X per ton), while the average price for exports to Costa Rica ($X per ton) and Honduras ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Colombia (+29.3%), while the prices for the other major destinations experienced more modest paces of growth.

Adhesive Bandage Imports

Imports into Panama

In 2022, the amount of adhesive bandages imported into Panama soared to X tons, rising by 26% on 2021 figures. Over the period under review, imports posted a resilient increase. The growth pace was the most rapid in 2017 when imports increased by 454%. Over the period under review, imports attained the peak figure in 2022 and are expected to retain growth in the near future.

In value terms, adhesive bandage imports surged to $X in 2022. In general, imports saw a buoyant expansion. The most prominent rate of growth was recorded in 2017 when imports increased by 1,438%. Over the period under review, imports reached the maximum in 2022 and are likely to continue growth in the near future.

Imports by Country

The United States (X tons), Free Zones (X tons) and China (X tons) were the main suppliers of adhesive bandage imports to Panama, together accounting for 66% of total imports. Colombia, Japan, Spain, Egypt, Brazil and South Korea lagged somewhat behind, together accounting for a further 30%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Egypt (with a CAGR of +54.2%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) constituted the largest supplier of adhesive bandages to Panama, comprising 41% of total imports. The second position in the ranking was taken by Free Zones ($X), with an 18% share of total imports. It was followed by Japan, with a 9.9% share.

From 2012 to 2022, the average annual growth rate of value from the United States totaled +32.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Free Zones (+9.1% per year) and Japan (+14.1% per year).

Import Prices by Country

In 2022, the average adhesive bandage import price amounted to $X per ton, waning by -7.4% against the previous year. In general, the import price, however, recorded a remarkable increase. The most prominent rate of growth was recorded in 2017 an increase of 178%. Over the period under review, average import prices hit record highs at $X per ton in 2018; however, from 2019 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Japan ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+4.9%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform