Scandinavia: Antibiotic Market 2024

Antibiotic Market Size in Scandinavia

In 2021, the Scandinavia antibiotic market increased by 36% to $X, rising for the second consecutive year after three years of decline. The total consumption indicated a resilient increase from 2012 to 2021: its value increased at an average annual rate of +5.4% 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 +98.4% against 2019 indices. Over the period under review, the market attained the peak level in 2021 and is likely to see steady growth in the near future.

Antibiotic Production in Scandinavia

In value terms, antibiotic production dropped modestly to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +3.2% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2017 when the production volume increased by 17%. As a result, production attained the peak level of $X. From 2018 to 2021, production growth remained at a somewhat lower figure.

Antibiotic Exports

Exports in Scandinavia

In 2021, shipments abroad of antibiotics decreased by -8.1% to X tons, falling for the second year in a row after two years of growth. In general, exports showed a slight contraction. The most prominent rate of growth was recorded in 2019 when exports increased by 171% against the previous year. As a result, the exports reached the peak of X tons. From 2020 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, antibiotic exports reached $X in 2021. The total export value increased at an average annual rate of +3.8% from 2012 to 2021; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations in certain years. The pace of growth was the most pronounced in 2013 with an increase of 25%. Over the period under review, the exports hit record highs in 2021 and are likely to see gradual growth in years to come.

Exports by Country

Denmark prevails in exports structure, recording X tons, which was near 90% of total exports in 2021. It was distantly followed by Norway (X tons), creating a 9.3% share of total exports.

Denmark experienced a relatively flat trend pattern with regard to volume of exports of antibiotics. Norway (-8.8%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Denmark increased by +11 percentage points.

In value terms, Denmark ($X) remains the largest antibiotic supplier in Scandinavia, comprising 100% of total exports. The second position in the ranking was held by Norway ($X), with a 0.2% share of total exports.

From 2012 to 2021, the average annual growth rate of value in Denmark totaled +5.5%.

Export Prices by Country

In 2021, the export price in Scandinavia amounted to $X per ton, with an increase of 12% against the previous year. Export price indicated a prominent expansion from 2012 to 2021: its price increased at an average annual rate of +5.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, antibiotic export price increased by +187.6% against 2019 indices. The pace of growth appeared the most rapid in 2020 when the export price increased by 157%. Over the period under review, the export prices hit record highs at $X per ton in 2014; afterwards, it flattened through to 2021.

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 Denmark ($X per ton), while Norway amounted to $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Denmark (+5.9%).

Antibiotic Imports

Imports in Scandinavia

In 2021, approx. X tons of antibiotics were imported in Scandinavia; which is down by -13.7% against 2020 figures. In general, imports continue to indicate a abrupt slump. The pace of growth appeared the most rapid in 2015 with an increase of 19% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

In value terms, antibiotic imports fell sharply to $X in 2021. Total imports indicated a notable expansion from 2012 to 2021: its value increased at an average annual rate of +3.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +5.8% against 2019 indices. The most prominent rate of growth was recorded in 2014 with an increase of 93%. As a result, imports attained the peak of $X. From 2015 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

Sweden (X tons) and Denmark (X tons) represented the main importers of antibiotics in 2021, accounting for near 41% and 37% of total imports, respectively. Norway (X tons) ranks next in terms of the total imports with an 11% share, followed by Iceland (9.6%). Finland (X tons) followed a long way behind the leaders.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Iceland (with a CAGR of +79.9%), while imports for the other leaders experienced mixed trends in the imports figures.

In value terms, Denmark ($X), Sweden ($X) and Iceland ($X) appeared to be the countries with the highest levels of imports in 2021, together accounting for 94% of total imports.

Iceland, with a CAGR of +109.1%, recorded 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

The import price in Scandinavia stood at $X per ton in 2021, declining by -7.3% against the previous year. Over the period under review, the import price, however, posted a resilient expansion. The pace of growth appeared the most rapid in 2014 when the import price increased by 123%. As a result, import price attained the peak level of $X per ton. From 2015 to 2021, the import prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Denmark ($X per ton), while Norway ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Iceland (+16.2%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform