Philippines: Market for Medicaments Of Penicillins, Streptomycins Or Derivatives Thereof 2024

Market Size for Medicaments Of Penicillins, Streptomycins Or Derivatives Thereof in the Philippines

In 2022, the Philippine penicillins or streptomycins medicaments market increased by 12% to $X for the first time since 2019, thus ending a two-year declining trend. Overall, consumption showed a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2020 to 2022, the growth of the market failed to regain momentum.

Exports of Medicaments Of Penicillins, Streptomycins Or Derivatives Thereof

Exports from the Philippines

In 2022, exports of medicaments of penicillins, streptomycins or derivatives thereof from the Philippines dropped significantly to X tons, waning by -89.2% compared with 2021 figures. Over the period under review, exports saw a dramatic shrinkage. The most prominent rate of growth was recorded in 2017 when exports increased by 16,548% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

In value terms, penicillins or streptomycins medicaments exports shrank markedly to $X in 2022. Overall, exports continue to indicate a abrupt slump. The most prominent rate of growth was recorded in 2017 when exports increased by 21,466%. Over the period under review, the exports attained the maximum at $X in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

Exports by Country

Turkey (X kg) and Papua New Guinea (X kg) were the main destinations of penicillins or streptomycins medicaments exports from the Philippines.

From 2012 to 2022, the biggest increases were recorded for Turkey (with a CAGR of 0.0%).

In value terms, Turkey ($X) emerged as the key foreign market for medicaments of penicillins, streptomycins or derivatives thereof exports from the Philippines, comprising 68% of total exports. The second position in the ranking was held by Papua New Guinea ($X), with a 29% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to Turkey was relatively modest.

Export Prices by Country

The average penicillins or streptomycins medicaments export price stood at $X per ton in 2022, with an increase of 52% against the previous year. Over the period under review, the export price recorded a significant expansion. The pace of growth appeared the most rapid in 2020 an increase of 1,542% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2021 to 2022, the average export prices remained at a somewhat lower figure.

Average prices varied noticeably for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Turkey ($X per ton), while the average price for exports to Papua New Guinea totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Malaysia (+137.9%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Medicaments Of Penicillins, Streptomycins Or Derivatives Thereof

Imports into the Philippines

After two years of decline, overseas purchases of medicaments of penicillins, streptomycins or derivatives thereof increased by 18% to X tons in 2022. In general, imports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 when imports increased by 39%. As a result, imports attained the peak of X tons. From 2020 to 2022, the growth of imports failed to regain momentum.

In value terms, penicillins or streptomycins medicaments imports expanded significantly to $X in 2022. Over the period under review, imports, however, continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2017 with an increase of 53%. Imports peaked at $X in 2019; however, from 2020 to 2022, imports remained at a lower figure.

Imports by Country

India (X tons), China (X tons) and Indonesia (X tons) were the main suppliers of penicillins or streptomycins medicaments imports to the Philippines, together accounting for 75% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by China (with a CAGR of +11.3%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest penicillins or streptomycins medicaments suppliers to the Philippines were India ($X), the UK ($X) and Pakistan ($X), together comprising 61% of total imports.

The UK, with a CAGR of +18.9%, saw 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

The average penicillins or streptomycins medicaments import price stood at $X per ton in 2022, falling by -8.5% against the previous year. Overall, the import price continues to indicate a slight slump. The pace of growth was the most pronounced in 2017 when the average import price increased by 22% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2014; however, from 2015 to 2022, import prices stood at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the UK (+16.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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