Singapore: Antibiotic Market 2024

Antibiotic Market Size in Singapore

For the fifth consecutive year, the Singaporean antibiotic market recorded growth in sales value, which increased by 36% to $X in 2021. Over the period under review, consumption posted a buoyant expansion. Over the period under review, the market attained the peak level in 2021 and is expected to retain growth in the near future.

Antibiotic Production in Singapore

In value terms, antibiotic production shrank to $X in 2021 estimated in export price. In general, production, however, continues to indicate a significant increase. The most prominent rate of growth was recorded in 2013 with an increase of 550% against the previous year. Over the period under review, production hit record highs at $X in 2018; however, from 2019 to 2021, production stood at a somewhat lower figure.

Antibiotic Exports

Exports from Singapore

In 2021, shipments abroad of antibiotics decreased by -17.6% to X tons, falling for the third year in a row after two years of growth. Over the period under review, exports showed a abrupt slump. The most prominent rate of growth was recorded in 2013 when exports increased by 24%. As a result, the exports attained the peak of X tons. From 2014 to 2021, the growth of the exports failed to regain momentum.

In value terms, antibiotic exports declined dramatically to $X in 2021. Overall, exports, however, showed a moderate increase. The pace of growth appeared the most rapid in 2017 with an increase of 77% against the previous year. The exports peaked at $X in 2018; however, from 2019 to 2021, the exports failed to regain momentum.

Exports by Country

The UK (X tons) was the main destination for antibiotic exports from Singapore, accounting for a 123% share of total exports. Moreover, antibiotic exports to the UK exceeded the volume sent to the second major destination, France (X tons), twofold. The third position in this ranking was held by Saudi Arabia (X tons), with a 7% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to the UK totaled +2.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: France (+18.7% per year) and Saudi Arabia (+1.7% per year).

In value terms, Panama ($X), the UK ($X) and France ($X) were the largest markets for antibiotic exported from Singapore worldwide, with a combined 86% share of total exports.

Panama, with a CAGR of +160.2%, saw the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average antibiotic export price amounted to $X per ton, with a decrease of -12.2% against the previous year. Over the period under review, the export price, however, saw a buoyant expansion. The most prominent rate of growth was recorded in 2017 when the average export price increased by 64%. Over the period under review, the average export prices reached the maximum at $X per ton in 2018; however, from 2019 to 2021, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Panama ($X per ton), while the average price for exports to Indonesia ($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 Panama (+19.6%), while the prices for the other major destinations experienced mixed trend patterns.

Antibiotic Imports

Imports into Singapore

In 2021, approx. X tons of antibiotics were imported into Singapore; waning by -7.6% on 2020. In general, imports recorded a sharp setback. The growth pace was the most rapid in 2016 when imports increased by 28% against the previous year. Imports peaked at X tons in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

In value terms, antibiotic imports dropped dramatically to $X in 2021. Over the period under review, imports continue to indicate a deep contraction. The most prominent rate of growth was recorded in 2017 when imports increased by 77% against the previous year. As a result, imports reached the peak of $X. From 2018 to 2021, the growth of imports remained at a lower figure.

Imports by Country

In 2021, China (X tons) was the main supplier of antibiotic to Singapore, with a 255% share of total imports. Moreover, antibiotic imports from China exceeded the figures recorded by the second-largest supplier, India (X tons), threefold. The third position in this ranking was taken by Japan (X tons), with a 17% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China stood at +10.5%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+16.8% per year) and Japan (+65.7% per year).

In value terms, the largest antibiotic suppliers to Singapore were India ($X), China ($X) and Japan ($X).

In terms of the main suppliers, Croatia, with a CAGR of +272.0%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average antibiotic import price stood at $X per ton in 2021, waning by -73.1% against the previous year. In general, the import price, however, recorded a buoyant increase. The pace of growth was the most pronounced in 2017 an increase of 170% against the previous year. The import price peaked at $X per ton in 2020, and then shrank significantly in the following year.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was the United States ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by India (-7.5%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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