Singapore: Market for Medicaments Containing Insulin But Not Antibiotics In Measured Doses 2024

Market Size for Medicaments Containing Insulin But Not Antibiotics In Measured Doses in Singapore

The Singaporean prophylactic medicaments containing insulin market dropped sharply to $X in 2022, shrinking by -17.5% against the previous year. Over the period under review, consumption, however, saw a remarkable increase. Prophylactic medicaments containing insulin consumption peaked at $X in 2018; however, from 2019 to 2022, consumption remained at a lower figure.

Production of Medicaments Containing Insulin But Not Antibiotics In Measured Doses in Singapore

In value terms, prophylactic medicaments containing insulin production dropped to $X in 2022 estimated in export price. Overall, production, however, posted strong growth. The growth pace was the most rapid in 2013 with an increase of 21%. Over the period under review, production hit record highs at $X in 2018; however, from 2019 to 2022, production remained at a lower figure.

Exports of Medicaments Containing Insulin But Not Antibiotics In Measured Doses

Exports from Singapore

Prophylactic medicaments containing insulin exports from Singapore soared to X tons in 2022, with an increase of 77% on the previous year. In general, exports saw significant growth. The pace of growth appeared the most rapid in 2020 when exports increased by 401% against the previous year. Over the period under review, the exports attained the maximum in 2022 and are likely to see gradual growth in the near future.

In value terms, prophylactic medicaments containing insulin exports skyrocketed to $X in 2022. Overall, exports posted significant growth. The most prominent rate of growth was recorded in 2020 when exports increased by 358%. The exports peaked in 2022 and are likely to see steady growth in the near future.

Exports by Country

The United States (X tons) was the main destination for prophylactic medicaments containing insulin exports from Singapore, with a 71% share of total exports. Moreover, prophylactic medicaments containing insulin exports to the United States exceeded the volume sent to the second major destination, Malaysia (X tons), eightfold. The third position in this ranking was held by South Korea (X tons), with an 8.9% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United States amounted to +556.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Malaysia (+175.3% per year) and South Korea (+579.7% per year).

In value terms, the United States ($X) remains the key foreign market for medicaments containing insulin but not antibiotics in measured doses exports from Singapore, comprising 76% of total exports. The second position in the ranking was held by Malaysia ($X), with an 11% share of total exports. It was followed by South Korea, with a 7.7% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States totaled +503.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Malaysia (+173.5% per year) and South Korea (+985.2% per year).

Export Prices by Country

In 2022, the average prophylactic medicaments containing insulin export price amounted to $X per ton, which is down by -15.9% against the previous year. In general, the export price, however, continues to indicate a notable expansion. The pace of growth appeared the most rapid in 2018 when the average export price increased by 24%. As a result, the export price attained the peak level of $X per ton. From 2019 to 2022, the average export prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Malaysia ($X per ton), while the average price for exports to Canada ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to South Korea (+59.7%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Medicaments Containing Insulin But Not Antibiotics In Measured Doses

Imports into Singapore

In 2022, the amount of medicaments containing insulin but not antibiotics in measured doses imported into Singapore surged to X tons, rising by 47% against the previous year. Overall, imports posted significant growth. The pace of growth was the most pronounced in 2020 with an increase of 134%. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in the near future.

In value terms, prophylactic medicaments containing insulin imports soared to $X in 2022. Over the period under review, imports showed significant growth. The most prominent rate of growth was recorded in 2020 with an increase of 131% against the previous year. Imports peaked in 2022 and are expected to retain growth in years to come.

Imports by Country

In 2022, Malaysia (X tons) constituted the largest supplier of prophylactic medicaments containing insulin to Singapore, accounting for a 67% share of total imports. Moreover, prophylactic medicaments containing insulin imports from Malaysia exceeded the figures recorded by the second-largest supplier, Germany (X tons), twofold.

From 2012 to 2022, the average annual growth rate of volume from Malaysia stood at +180.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+18.3% per year) and Italy (+16.6% per year).

In value terms, Malaysia ($X) constituted the largest supplier of medicaments containing insulin but not antibiotics in measured doses to Singapore, comprising 72% of total imports. The second position in the ranking was held by Germany ($X), with a 25% share of total imports.

From 2012 to 2022, the average annual growth rate of value from Malaysia totaled +165.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+13.1% per year) and Italy (-1.7% per year).

Import Prices by Country

In 2022, the average prophylactic medicaments containing insulin import price amounted to $X per ton, waning by -8.9% against the previous year. Overall, the import price recorded a perceptible shrinkage. The pace of growth appeared the most rapid in 2018 an increase of 17%. As a result, import price reached the peak level of $X per ton. From 2019 to 2022, the average import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (-4.4%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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