Panama: Market for Other Medicaments For Therapeutic Or Prophylactic Uses 2024

Market Size for Other Medicaments For Therapeutic Or Prophylactic Uses in Panama

The Panamanian market for other medicaments for therapeutic or prophylactic uses fell sharply to $X in 2022, which is down by X% against the previous year. In general, consumption, however, saw a relatively flat trend pattern. Consumption of peaked at $X in 2018; however, from 2019 to 2022, consumption remained at a lower figure.

Production of Other Medicaments For Therapeutic Or Prophylactic Uses in Panama

In value terms, production of other medicaments for therapeutic or prophylactic uses fell slightly to $X in 2022 estimated in export price. Over the period under review, production, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 with an increase of X%. Over the period under review, production of reached the maximum level at $X in 2016; however, from 2017 to 2022, production failed to regain momentum.

Exports of Other Medicaments For Therapeutic Or Prophylactic Uses

Exports from Panama

In 2022, shipments abroad of other medicaments for therapeutic or prophylactic uses increased by X% to X tons for the first time since 2019, thus ending a two-year declining trend. Overall, exports showed a buoyant increase. The pace of growth appeared the most rapid in 2016 when exports increased by X% against the previous year. The exports peaked in 2022 and are likely to see steady growth in years to come.

In value terms, exports of other medicaments for therapeutic or prophylactic uses surged to $X in 2022. In general, exports, however, continue to indicate a deep downturn. The pace of growth appeared the most rapid in 2016 with an increase of X%. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

Costa Rica (X tons) was the main destination for exports of other medicaments for therapeutic or prophylactic uses from Panama, accounting for a X% share of total exports. Moreover, exports of other medicaments for therapeutic or prophylactic uses to Costa Rica exceeded the volume sent to the second major destination, Nicaragua (X tons), threefold. Colombia (X tons) ranked third in terms of total exports with a X% share.

From 2012 to 2022, the average annual growth rate of volume to Costa Rica stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Nicaragua (X% per year) and Colombia (X% per year).

In value terms, Costa Rica ($X) remains the key foreign market for other medicaments for therapeutic or prophylactic uses exports from Panama, comprising X% of total exports. The second position in the ranking was taken by Nicaragua ($X), with a X% share of total exports. It was followed by El Salvador, with an X% share.

From 2012 to 2022, the average annual growth rate of value to Costa Rica amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Nicaragua (X% per year) and El Salvador (X% per year).

Export Prices by Country

In 2022, the average export price for other medicaments for therapeutic or prophylactic uses amounted to $X per ton, growing by X% against the previous year. Overall, the export price, however, faced a sharp decline. The pace of growth was the most pronounced in 2018 when the average export price increased by X% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was El Salvador ($X per ton), while the average price for exports to Costa Rica ($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 Honduras (X%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Other Medicaments For Therapeutic Or Prophylactic Uses

Imports into Panama

In 2022, imports of other medicaments for therapeutic or prophylactic uses into Panama reduced notably to X tons, which is down by X% against 2021 figures. Over the period under review, imports, however, saw a noticeable expansion. The pace of growth was the most pronounced in 2017 with an increase of X% against the previous year. As a result, imports attained the peak of X tons. From 2018 to 2022, the growth of imports of failed to regain momentum.

In value terms, imports of other medicaments for therapeutic or prophylactic uses dropped remarkably to $X in 2022. In general, imports continue to indicate a abrupt slump. The pace of growth appeared the most rapid in 2017 with an increase of X% against the previous year. Over the period under review, imports of attained the peak figure at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, China (X tons) constituted the largest other medicaments for therapeutic or prophylactic uses supplier to Panama, with a X% share of total imports. Moreover, imports of other medicaments for therapeutic or prophylactic uses from China exceeded the figures recorded by the second-largest supplier, Mexico (X tons), threefold. The third position in this ranking was taken by the United States (X tons), with an X% share.

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

In value terms, China ($X) constituted the largest supplier of other medicaments for therapeutic or prophylactic uses to Panama, comprising X% of total imports. The second position in the ranking was held by Mexico ($X), with a X% share of total imports. It was followed by the United States, with a X% share.

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

Import Prices by Country

In 2022, the average import price for other medicaments for therapeutic or prophylactic uses amounted to $X per ton, rising by X% against the previous year. Overall, the import price, however, faced a abrupt curtailment. The most prominent rate of growth was recorded in 2018 an increase of X% against the previous year. Over the period under review, average import prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

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 ($X per ton), while the price for Colombia ($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 more modest paces of growth.

Source: IndexBox Platform