Panama: Market for Medicaments Containing Insulin But Not Antibiotics In Measured Doses 2024

Market Size for Medicaments Containing Insulin But Not Antibiotics In Measured Doses in Panama

The Panamanian prophylactic medicaments containing insulin market reached $X in 2022, flattening at the previous year. In general, consumption continues to indicate strong growth. Prophylactic medicaments containing insulin consumption peaked at $X in 2020; afterwards, it flattened through to 2022.

Production of Medicaments Containing Insulin But Not Antibiotics In Measured Doses in Panama

In value terms, prophylactic medicaments containing insulin production totaled $X in 2022 estimated in export price. Over the period under review, production showed strong growth. The pace of growth was the most pronounced in 2017 when the production volume increased by 26% against the previous year. Over the period under review, production attained the maximum level at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Exports of Medicaments Containing Insulin But Not Antibiotics In Measured Doses

Exports from Panama

After three years of decline, overseas shipments of medicaments containing insulin but not antibiotics in measured doses increased by 158% to X tons in 2022. Overall, exports, however, continue to indicate a pronounced decline. Over the period under review, the exports attained the maximum at X tons in 2016; however, from 2017 to 2022, the exports failed to regain momentum.

In value terms, prophylactic medicaments containing insulin exports surged to $X in 2022. Over the period under review, exports, however, continue to indicate a deep contraction. The pace of growth appeared the most rapid in 2018 with an increase of 78%. The exports peaked at $X in 2016; however, from 2017 to 2022, the exports remained at a lower figure.

Exports by Country

Barbados (X tons) was the main destination for prophylactic medicaments containing insulin exports from Panama, with a 71% share of total exports. Moreover, prophylactic medicaments containing insulin exports to Barbados exceeded the volume sent to the second major destination, Jamaica (X tons), threefold.

From 2012 to 2022, the average annual rate of growth in terms of volume to Barbados totaled +71.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Jamaica (+42.3% per year) and Bermuda (+18.1% per year).

In value terms, Barbados ($X), Jamaica ($X) and Bermuda ($X) appeared to be the largest markets for prophylactic medicaments containing insulin exported from Panama worldwide, with a combined 99% share of total exports.

In terms of the main countries of destination, Barbados, with a CAGR of +77.3%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average prophylactic medicaments containing insulin export price stood at $X per ton in 2022, falling by -51.7% against the previous year. Overall, the export price recorded a noticeable reduction. The most prominent rate of growth was recorded in 2018 when the average export price increased by 35% 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.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Bermuda ($X per ton), while the average price for exports to Barbados ($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 Venezuela (+25.4%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Medicaments Containing Insulin But Not Antibiotics In Measured Doses

Imports into Panama

In 2022, after two years of decline, there was significant growth in overseas purchases of medicaments containing insulin but not antibiotics in measured doses, when their volume increased by 16% to X tons. Over the period under review, imports, however, faced a deep downturn. The pace of growth appeared the most rapid in 2016 when imports increased by 139% against the previous year. As a result, imports attained the peak of X tons. From 2017 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, prophylactic medicaments containing insulin imports skyrocketed to $X in 2022. In general, imports, however, continue to indicate a deep slump. The pace of growth appeared the most rapid in 2019 when imports increased by 226% against the previous year. Imports peaked at $X in 2014; however, from 2015 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Denmark (X tons) constituted the largest supplier of prophylactic medicaments containing insulin to Panama, accounting for a 71% share of total imports. Moreover, prophylactic medicaments containing insulin imports from Denmark exceeded the figures recorded by the second-largest supplier, Free Zones (X tons), fivefold.

From 2012 to 2022, the average annual rate of growth in terms of volume from Denmark totaled -6.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Free Zones (+516.8% per year) and France (+0.2% per year).

In value terms, the largest prophylactic medicaments containing insulin suppliers to Panama were Free Zones ($X), Denmark ($X) and France ($X), with a combined 100% share of total imports.

Among the main suppliers, Free Zones, with a CAGR of +658.3%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

In 2022, the average prophylactic medicaments containing insulin import price amounted to $X per ton, growing by 22% against the previous year. In general, import price indicated a modest expansion from 2012 to 2022: its price increased at an average annual rate of +1.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2017 an increase of 70%. The import price peaked at $X per ton in 2014; however, from 2015 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 Free Zones ($X per ton), while the price for Denmark ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Free Zones (+22.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform