Saudi Arabia: Market for Medicaments Containing Corticosteroid Hormones 2024

Market Size for Medicaments Containing Corticosteroid Hormones in Saudi Arabia

The Saudi medicaments containing corticosteroid hormones market contracted dramatically to $X in 2021, with a decrease of -20.2% 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). Overall, consumption continues to indicate a abrupt decline. As a result, consumption attained the peak level of $X. From 2019 to 2021, the growth of the market remained at a somewhat lower figure.

Exports of Medicaments Containing Corticosteroid Hormones

Exports from Saudi Arabia

In 2021, overseas shipments of medicaments containing corticosteroid hormones were finally on the rise to reach X tons after two years of decline. Over the period under review, exports, however, recorded a dramatic descent. The pace of growth was the most pronounced in 2017 when exports increased by 642% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, medicaments containing corticosteroid hormones exports soared to $X in 2021. Overall, exports, however, recorded a abrupt setback. The pace of growth appeared the most rapid in 2017 when exports increased by 1,036%. As a result, the exports reached the peak of $X. From 2018 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Oman (X tons) was the main destination for medicaments containing corticosteroid hormones exports from Saudi Arabia, accounting for a 69% share of total exports. Moreover, medicaments containing corticosteroid hormones exports to Oman exceeded the volume sent to the second major destination, the United Arab Emirates (X tons), fourfold. Bahrain (X tons) ranked third in terms of total exports with a 13% share.

From 2012 to 2021, the average annual growth rate of volume to Oman totaled +4.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (-17.3% per year) and Bahrain (-9.8% per year).

In value terms, the largest markets for medicaments containing corticosteroid hormones exported from Saudi Arabia were the United Arab Emirates ($X), Oman ($X) and Bahrain ($X), with a combined 100% share of total exports.

Oman, with a CAGR of +14.1%, recorded the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced a decline.

Export Prices by Country

In 2021, the average medicaments containing corticosteroid hormones export price amounted to $X per ton, waning by -61% against the previous year. Overall, the export price, however, posted a tangible expansion. The pace of growth was the most pronounced in 2020 an increase of 85% against the previous year. As a result, the export price attained the peak level of $X per ton, and then shrank notably in the following year.

There were significant differences in the average prices for the major overseas markets. In 2021, the country with the highest price was the United Arab Emirates ($X per ton), while the average price for exports to Kuwait ($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 Afghanistan (+37.8%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Medicaments Containing Corticosteroid Hormones

Imports into Saudi Arabia

In 2021, supplies from abroad of medicaments containing corticosteroid hormones was finally on the rise to reach X tons after two years of decline. Over the period under review, imports, however, showed a perceptible decrease. The pace of growth appeared the most rapid in 2018 with an increase of 204% against the previous year. As a result, imports reached the peak of X tons. From 2019 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, medicaments containing corticosteroid hormones imports plummeted to $X in 2021. In general, imports, however, showed a deep contraction. The pace of growth appeared the most rapid in 2018 when imports increased by 278%. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, Oman (X tons) constituted the largest medicaments containing corticosteroid hormones supplier to Saudi Arabia, accounting for a 64% share of total imports. Moreover, medicaments containing corticosteroid hormones imports from Oman exceeded the figures recorded by the second-largest supplier, France (X tons), ninefold. Germany (X tons) ranked third in terms of total imports with a 7.1% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Oman amounted to +90.0%. The remaining supplying countries recorded the following average annual rates of imports growth: France (-12.9% per year) and Germany (-12.4% per year).

In value terms, Sweden ($X), France ($X) and Germany ($X) appeared to be the largest medicaments containing corticosteroid hormones suppliers to Saudi Arabia, together accounting for 62% of total imports. Oman, Belgium, Spain, Switzerland, Egypt and Italy lagged somewhat behind, together comprising a further 20%.

Among the main suppliers, Oman, with a CAGR of +45.9%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

The average medicaments containing corticosteroid hormones import price stood at $X per ton in 2021, which is down by -29.7% against the previous year. Overall, the import price continues to indicate a abrupt downturn. The most prominent rate of growth was recorded in 2019 an increase of 25% against the previous year. The import price peaked at $X per ton in 2012; however, from 2013 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 Switzerland ($X per ton), while the price for Egypt ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (+0.7%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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