Philippines: Antibiotic Market 2024

Antibiotic Market Size in the Philippines

In 2021, the Philippine antibiotic market decreased by -35.6% to $X, falling for the second year in a row after eight years of growth. Overall, consumption, however, saw a mild increase. Antibiotic consumption peaked at $X in 2019; however, from 2020 to 2021, consumption stood at a somewhat lower figure.

Antibiotic Exports

Exports from the Philippines

In 2021, the amount of antibiotics exported from the Philippines surged to X tons, rising by 1,107% compared with the previous year. In general, exports, however, showed a pronounced downturn. The most prominent rate of growth was recorded in 2015 with an increase of 3,214% against the previous year. As a result, the exports reached the peak of X tons. From 2016 to 2021, the growth of the exports failed to regain momentum.

In value terms, antibiotic exports surged to $X in 2021. Overall, exports saw a perceptible expansion. The pace of growth was the most pronounced in 2015 when exports increased by 3,868% against the previous year. As a result, the exports attained the peak of $X. From 2016 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

Singapore (X kg) was the main destination for antibiotic exports from the Philippines, accounting for a 50% share of total exports. Moreover, antibiotic exports to Singapore exceeded the volume sent to the second major destination, the UK (X kg), eightfold.

From 2012 to 2021, the average annual growth rate of volume to Singapore totaled +181.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: the UK (+9.9% per year) and Indonesia (-54.5% per year).

In value terms, Singapore ($X) emerged as the key foreign market for antibiotics exports from the Philippines, comprising 97% of total exports. The second position in the ranking was held by the UK ($X), with a 3.3% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to Singapore totaled +353.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: the UK (+28.2% per year) and Indonesia (-61.7% per year).

Export Prices by Country

The average antibiotic export price stood at $X per ton in 2021, dropping by -20% against the previous year. In general, the export price, however, posted a prominent expansion. The pace of growth was the most pronounced in 2017 when the average export price increased by 54%. Over the period under review, the average export prices attained the maximum at $X per ton in 2018; however, from 2019 to 2021, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Singapore ($X per ton), while the average price for exports to Indonesia ($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 Singapore (+30.5%), while the prices for the other major destinations experienced more modest paces of growth.

Antibiotic Imports

Imports into the Philippines

In 2021, approx. X tons of antibiotics were imported into the Philippines; which is down by -24.2% compared with 2020. Overall, imports, however, enjoyed a resilient increase. The pace of growth was the most pronounced in 2014 with an increase of 112%. Over the period under review, imports hit record highs at X tons in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

In value terms, antibiotic imports dropped markedly to $X in 2021. In general, imports showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2019 with an increase of 33%. As a result, imports reached the peak of $X. From 2020 to 2021, the growth of imports remained at a lower figure.

Imports by Country

In 2021, China (X tons) constituted the largest antibiotic supplier to the Philippines, accounting for a 70% share of total imports. Moreover, antibiotic imports from China exceeded the figures recorded by the second-largest supplier, India (X tons), more than tenfold. Thailand (X tons) ranked third in terms of total imports with a 1.2% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China stood at +3.2%. The remaining supplying countries recorded the following average annual rates of imports growth: India (-1.7% per year) and Thailand (+60.5% per year).

In value terms, China ($X) constituted the largest supplier of antibiotics to the Philippines, comprising 71% of total imports. The second position in the ranking was taken by India ($X), with a 13% share of total imports. It was followed by Thailand, with a 2.1% share.

From 2012 to 2021, the average annual growth rate of value from China totaled +3.2%. The remaining supplying countries recorded the following average annual rates of imports growth: India (-5.2% per year) and Thailand (+34.4% per year).

Import Prices by Country

The average antibiotic import price stood at $X per ton in 2021, with a decrease of -24.4% against the previous year. Over the period under review, the import price recorded a deep contraction. The pace of growth appeared the most rapid in 2015 an increase of 19%. The import price peaked at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+0.1%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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