Singapore: Medicaments Containing Penicillin Market 2024

Medicaments Containing Penicillin Market Size in Singapore

In 2021, the Singaporean medicaments containing penicillin market increased by 17% to $X for the first time since 2018, thus ending a two-year declining trend. Overall, consumption saw prominent growth. Over the period under review, the market hit record highs at $X in 2018; however, from 2019 to 2021, consumption failed to regain momentum.

Medicaments Containing Penicillin Production in Singapore

In value terms, medicaments containing penicillin production soared to $X in 2021 estimated in export price. Over the period under review, production posted a strong increase. The growth pace was the most rapid in 2016 when the production volume increased by 108%. 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.

Medicaments Containing Penicillin Exports

Exports from Singapore

In 2021, exports of medicaments containing penicillins or derivatives thereof from Singapore contracted sharply to X kg, declining by -82.1% on the previous year. In general, exports recorded a abrupt shrinkage. The pace of growth appeared the most rapid in 2019 with an increase of 273%. As a result, the exports attained the peak of X tons. From 2020 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, medicaments containing penicillin exports dropped notably to $X in 2021. Over the period under review, exports recorded a abrupt slump. The most prominent rate of growth was recorded in 2019 with an increase of 184% against the previous year. As a result, the exports reached the peak of $X. From 2020 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Myanmar (X kg) was the main destination for medicaments containing penicillin exports from Singapore, with a 57% share of total exports. Moreover, medicaments containing penicillin exports to Myanmar exceeded the volume sent to the second major destination, Thailand (X kg), sevenfold. The third position in this ranking was held by Saudi Arabia (X kg), with a 7.5% share.

From 2012 to 2021, the average annual growth rate of volume to Myanmar totaled +9.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Thailand (+1.1% per year) and Saudi Arabia (-32.8% per year).

In value terms, the largest markets for medicaments containing penicillin exported from Singapore were Thailand ($X), Saudi Arabia ($X) and South Korea ($X), together comprising 60% of total exports. These countries were followed by Hong Kong SAR, New Zealand, Myanmar, Brunei Darussalam and Australia, which together accounted for a further 23%.

Hong Kong SAR, with a CAGR of +23.9%, saw the highest growth rate of the value of exports, among 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 medicaments containing penicillin export price amounted to $X per ton, declining by -6.4% against the previous year. In general, the export price, however, posted a buoyant expansion. The most prominent rate of growth was recorded in 2018 an increase of 56%. As a result, the export price attained the peak level of $X per ton. From 2019 to 2021, the average export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Thailand ($X per ton), while the average price for exports to Angola ($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 Brunei Darussalam (+32.2%), while the prices for the other major destinations experienced more modest paces of growth.

Medicaments Containing Penicillin Imports

Imports into Singapore

Medicaments containing penicillin imports into Singapore soared to X tons in 2021, increasing by 28% on 2020. In general, imports showed a prominent expansion. The most prominent rate of growth was recorded in 2019 when imports increased by 930%. Over the period under review, imports attained the maximum at X tons in 2015; however, from 2016 to 2021, imports failed to regain momentum.

In value terms, medicaments containing penicillin imports expanded rapidly to $X in 2021. Over the period under review, imports recorded prominent growth. The pace of growth appeared the most rapid in 2019 with an increase of 1,024% against the previous year. Imports peaked in 2021 and are likely to see gradual growth in years to come.

Imports by Country

Malaysia (X kg), China (X kg) and the UK (X kg) were the main suppliers of medicaments containing penicillin imports to Singapore, with a combined 70% share of total imports.

From 2012 to 2021, the biggest increases were recorded for China (with a CAGR of +81.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, China ($X) constituted the largest supplier of medicaments containing penicillins or derivatives thereof to Singapore, comprising 55% of total imports. The second position in the ranking was held by South Korea ($X), with a 14% share of total imports. It was followed by Australia, with a 5.7% share.

From 2012 to 2021, the average annual growth rate of value from China totaled +72.1%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (+11.7% per year) and Australia (+53.0% per year).

Import Prices by Country

In 2021, the average medicaments containing penicillin import price amounted to $X per ton, falling by -10.9% against the previous year. Overall, import price indicated a prominent increase from 2012 to 2021: its price increased at an average annual rate of +6.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, medicaments containing penicillin import price increased by +55.9% against 2016 indices. The most prominent rate of growth was recorded in 2020 an increase of 26% against the previous year. As a result, import price reached the peak level of $X per ton, and then dropped in the following year.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Indonesia (+51.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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