Puerto Rico: Antibiotic Market 2024

Antibiotic Market Size in Puerto Rico

After two years of growth, the Puerto Rican antibiotic market decreased by -2.1% to $X in 2021. Overall, the total consumption indicated a temperate increase from 2012 to 2021: its value increased at an average annual rate of +4.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +19.8% against 2018 indices. As a result, consumption attained the peak level of $X. From 2015 to 2021, the growth of the market remained at a somewhat lower figure.

Antibiotic Production in Puerto Rico

In value terms, antibiotic production reduced modestly to $X in 2021 estimated in export price. In general, the total production indicated a strong expansion from 2012 to 2021: its value increased at an average annual rate of +5.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +28.5% against 2018 indices. The pace of growth appeared the most rapid in 2014 when the production volume increased by 89% against the previous year. As a result, production reached the peak level of $X. From 2015 to 2021, production growth remained at a somewhat lower figure.

Antibiotic Exports

Exports from Puerto Rico

In 2021, exports of antibiotics from Puerto Rico was estimated at less than X kg, approximately equating the previous year. In general, exports showed a relatively flat trend pattern.

In value terms, antibiotic exports amounted to less than $X in 2021. Over the period under review, exports showed a relatively flat trend pattern.

Exports by Country

China dominates exports structure, reaching X tons, which was near 65% of total exports in 2021. It was distantly followed by India (X tons), Spain (X tons) and the Netherlands (X tons), together committing a 19% share of total exports. The following exporters - the United States (X tons), Italy (X tons), Bulgaria (X tons), Panama (X tons), Austria (X tons) and Mexico (X tons) - together made up 9% of total exports.

China experienced a relatively flat trend pattern with regard to volume of exports of antibiotics. At the same time, Bulgaria (+13.4%) and the Netherlands (+2.7%) displayed positive paces of growth. Moreover, Bulgaria emerged as the fastest-growing exporter exported in the world, with a CAGR of +13.4% from 2012-2021. By contrast, India (-1.5%), the United States (-2.2%), Spain (-2.9%), Italy (-6.7%), Mexico (-11.4%), Austria (-33.4%) and Panama (-45.9%) illustrated a downward trend over the same period. China (+12 p.p.), the Netherlands (+1.8 p.p.) and Bulgaria (+1.8 p.p.) significantly strengthened its position in terms of the global exports, while Austria and Panama saw its share reduced by -2.4% and -8.7% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest antibiotic supplier from Puerto Rico, comprising 42% of global exports. The second position in the ranking was taken by Italy ($X), with an 8.9% share of global exports. It was followed by India, with a 7.8% share.

In China, antibiotic exports expanded at an average annual rate of +4.5% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Italy (+1.1% per year) and India (-1.4% per year).

Export Prices by Country

In 2021, the export price in Puerto Rico amounted to less than $X per ton, remaining stable against the previous year. In general, the export price continues to indicate a relatively flat trend pattern.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Panama ($X per ton), while Bulgaria ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Panama (+46.7%), while the other leaders experienced more modest paces of growth.

Antibiotic Imports

Imports into Puerto Rico

Antibiotic imports into Puerto Rico was estimated at less than X kg in 2021, almost unchanged from 2020 figures. Overall, imports continue to indicate a relatively flat trend pattern.

In value terms, antibiotic imports amounted to less than $X in 2021. Over the period under review, imports recorded a relatively flat trend pattern.

Imports by Country

India represented the key importing country with an import of about X tons, which recorded 24% of total imports. It was distantly followed by Brazil (X tons) and the Netherlands (X tons), together comprising a 12% share of total imports. The following importers - Spain (X tons), Vietnam (X tons), Italy (X tons), the United States (X tons), Thailand (X tons), Indonesia (X tons), the UK (X tons), Nigeria (X tons), Bangladesh (X tons) and Belgium (X tons) - together made up 29% of total imports.

Imports into India increased at an average annual rate of +5.3% from 2012 to 2021. At the same time, Nigeria (+12.6%), Bangladesh (+8.1%), Thailand (+2.8%) and Brazil (+1.1%) displayed positive paces of growth. Moreover, Nigeria emerged as the fastest-growing importer imported in the world, with a CAGR of +12.6% from 2012-2021. Belgium and the Netherlands experienced a relatively flat trend pattern. By contrast, Indonesia (-1.5%), Vietnam (-2.1%), Italy (-2.3%), Spain (-2.6%), the UK (-8.8%) and the United States (-11.9%) illustrated a downward trend over the same period. While the share of India (+11 p.p.) increased significantly in terms of the global imports from 2012-2021, the share of the UK (-2 p.p.) and the United States (-5.8 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, India ($X), Italy ($X) and the United States ($X) were the countries with the highest levels of imports in 2021, together accounting for 30% of total imports. The Netherlands, Brazil, Spain, Belgium, Vietnam, the UK, Bangladesh, Thailand, Indonesia and Nigeria lagged somewhat behind, together comprising a further 24%.

Bangladesh, with a CAGR of +11.1%, saw the highest growth rate of the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the import price in Puerto Rico amounted to less than $X per ton, remaining stable against the previous year. In general, the import price showed a relatively flat trend pattern.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Italy ($X per ton), while Nigeria ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+6.1%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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