Philippines: Medicaments Containing Penicillin Market 2024

Medicaments Containing Penicillin Market Size in the Philippines

In 2021, the Philippine medicaments containing penicillin market decreased by -46.2% to $X for the first time since 2017, thus ending a three-year rising trend. In general, consumption continues to indicate a pronounced shrinkage. Medicaments containing penicillin consumption peaked at $X in 2015; however, from 2016 to 2021, consumption remained at a lower figure.

Medicaments Containing Penicillin Exports

Exports from the Philippines

In 2021, overseas shipments of medicaments containing penicillins or derivatives thereof decreased by -76.2% to X kg, falling for the second consecutive year after three years of growth. Overall, exports recorded a abrupt curtailment. The most prominent rate of growth was recorded in 2017 with an increase of 635%. Over the period under review, the exports attained the peak figure at X tons in 2019; however, from 2020 to 2021, the exports remained at a lower figure.

In value terms, medicaments containing penicillin exports declined rapidly to $X in 2021. Over the period under review, exports recorded a mild decrease. The most prominent rate of growth was recorded in 2018 with an increase of 646% against the previous year. Over the period under review, the exports attained the maximum at $X in 2019; however, from 2020 to 2021, the exports remained at a lower figure.

Exports by Country

Palau (X kg) was the main destination for medicaments containing penicillin exports from the Philippines, with a 83% share of total exports. Moreover, medicaments containing penicillin exports to Palau exceeded the volume sent to the second major destination, Micronesia (X kg), sevenfold.

From 2012 to 2021, the average annual growth rate of volume to Palau stood at -5.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Micronesia (-22.4% per year) and Marshall Islands (-28.8% per year).

In value terms, Palau ($X) remains the key foreign market for medicaments containing penicillins or derivatives thereof exports from the Philippines, comprising 58% of total exports. The second position in the ranking was held by Micronesia ($X), with a 21% share of total exports.

From 2012 to 2021, the average annual growth rate of value to Palau amounted to +4.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Micronesia (+8.9% per year) and Marshall Islands (-3.9% per year).

Export Prices by Country

In 2021, the average medicaments containing penicillin export price amounted to $X per ton, leveling off at the previous year. Over the period under review, the export price, however, saw prominent growth. The most prominent rate of growth was recorded in 2018 when the average export price increased by 541%. Over the period under review, the average export prices attained the peak figure at $X per ton in 2020, and then reduced slightly in the following year.

There were significant differences in the average prices for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was Marshall Islands ($X per ton), while the average price for exports to Palau ($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 Micronesia (+40.6%), while the prices for the other major destinations experienced more modest paces of growth.

Medicaments Containing Penicillin Imports

Imports into the Philippines

In 2021, imports of medicaments containing penicillins or derivatives thereof into the Philippines fell sharply to X tons, which is down by -51.9% against the previous year's figure. In general, imports recorded a perceptible slump. The pace of growth was the most pronounced in 2013 with an increase of 146%. Imports peaked at X tons in 2015; however, from 2016 to 2021, imports remained at a lower figure.

In value terms, medicaments containing penicillin imports declined notably to $X in 2021. Overall, imports recorded a mild reduction. The growth pace was the most rapid in 2013 when imports increased by 42%. Imports peaked at $X in 2015; however, from 2016 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, China (X tons) constituted the largest medicaments containing penicillin supplier to the Philippines, accounting for a 60% share of total imports. Moreover, medicaments containing penicillin imports from China exceeded the figures recorded by the second-largest supplier, the United States (X tons), sevenfold. The third position in this ranking was taken by Pakistan (X tons), with a 7.5% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China stood at -4.7%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+27.2% per year) and Pakistan (+3.0% per year).

In value terms, China ($X) constituted the largest supplier of medicaments containing penicillins or derivatives thereof to the Philippines, comprising 44% of total imports. The second position in the ranking was taken by Pakistan ($X), with a 12% share of total imports. It was followed by Taiwan (Chinese), with a 7.4% share.

From 2012 to 2021, the average annual growth rate of value from China stood at +3.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Pakistan (+8.3% per year) and Taiwan (Chinese) (+30.0% per year).

Import Prices by Country

The average medicaments containing penicillin import price stood at $X per ton in 2021, growing by 22% against the previous year. Over the period under review, the import price saw a relatively flat trend pattern. The growth pace was the most rapid in 2016 when the average import price increased by 53% against the previous year. The import price peaked in 2021 and is expected to retain growth in the near future.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+12.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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