Peru: Market for Medicaments Containing Corticosteroid Hormones 2024

Market Size for Medicaments Containing Corticosteroid Hormones in Peru

The Peruvian medicaments containing corticosteroid hormones market reached $X in 2021, surging by 3.6% against 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 showed a perceptible shrinkage. Medicaments containing corticosteroid hormones consumption peaked at $X in 2013; however, from 2014 to 2021, consumption failed to regain momentum.

Exports of Medicaments Containing Corticosteroid Hormones

Exports from Peru

In 2021, shipments abroad of medicaments containing corticosteroid hormones increased by 44% to X tons, rising for the fifth consecutive year after two years of decline. Over the period under review, exports continue to indicate a remarkable increase. The most prominent rate of growth was recorded in 2020 when exports increased by 48% against the previous year. Over the period under review, the exports reached the peak figure in 2021 and are likely to see steady growth in the immediate term.

In value terms, medicaments containing corticosteroid hormones exports surged to $X in 2021. In general, exports continue to indicate a significant increase. The pace of growth was the most pronounced in 2014 with an increase of 101%. The exports peaked in 2021 and are expected to retain growth in years to come.

Exports by Country

Venezuela (X tons), Ecuador (X tons) and Bolivia (X tons) were the main destinations of medicaments containing corticosteroid hormones exports from Peru, with a combined 72% share of total exports. These countries were followed by Nicaragua, Panama, the Dominican Republic, Guatemala, Costa Rica and Chile, which together accounted for a further 24%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Nicaragua (with a CAGR of +37.5%), while the other leaders experienced more modest paces of growth.

In value terms, Ecuador ($X), Venezuela ($X) and Bolivia ($X) constituted the largest markets for medicaments containing corticosteroid hormones exported from Peru worldwide, together comprising 68% of total exports. Guatemala, Nicaragua, the Dominican Republic, Panama, Costa Rica and Chile lagged somewhat behind, together accounting for a further 27%.

Guatemala, with a CAGR of +59.1%, recorded the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average medicaments containing corticosteroid hormones export price stood at $X per ton in 2021, rising by 18% against the previous year. Over the period under review, export price indicated a strong expansion from 2012 to 2021: its price increased at an average annual rate of +6.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, medicaments containing corticosteroid hormones export price increased by +47.8% against 2019 indices. The growth pace was the most rapid in 2014 when the average export price increased by 51%. The export price peaked in 2021 and is expected to retain growth in the immediate term.

There were significant differences in the average prices for the major export markets. In 2021, the country with the highest price was Guatemala ($X per ton), while the average price for exports to Chile ($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 Guatemala (+22.5%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Medicaments Containing Corticosteroid Hormones

Imports into Peru

Medicaments containing corticosteroid hormones imports into Peru declined to X tons in 2021, which is down by -3.2% compared with the previous year. Over the period under review, imports showed a noticeable contraction. The pace of growth appeared the most rapid in 2020 with an increase of 44%. Imports peaked at X tons in 2012; however, from 2013 to 2021, imports failed to regain momentum.

In value terms, medicaments containing corticosteroid hormones imports skyrocketed to $X in 2021. In general, imports recorded a pronounced downturn. Imports peaked at $X in 2013; however, from 2014 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, China (X tons) constituted the largest medicaments containing corticosteroid hormones supplier to Peru, with a 33% share of total imports. Moreover, medicaments containing corticosteroid hormones imports from China exceeded the figures recorded by the second-largest supplier, Colombia (X tons), twofold. India (X tons) ranked third in terms of total imports with a 14% share.

From 2012 to 2021, the average annual growth rate of volume from China amounted to -9.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Colombia (+1.5% per year) and India (+19.3% per year).

In value terms, Mexico ($X), Italy ($X) and Colombia ($X) constituted the largest medicaments containing corticosteroid hormones suppliers to Peru, together accounting for 30% of total imports. These countries were followed by India, Germany, Belgium, France, China, Brazil, Argentina, Chile and Paraguay, which together accounted for a further 47%.

Paraguay, with a CAGR of +27.8%, recorded the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average medicaments containing corticosteroid hormones import price amounted to $X per ton, jumping by 21% against the previous year. Overall, the import price recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 when the average import price increased by 28% against the previous year. Over the period under review, average import prices reached the maximum at $X per ton in 2016; however, from 2017 to 2021, import prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by France (+8.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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