Slovakia: Medicaments Containing Vitamins Market 2024

Medicaments Containing Vitamins Market Size in Slovakia

In 2021, the Slovak medicaments containing vitamins market increased by 22% to $X, rising for the third year in a row after two years of decline. Overall, consumption, however, continues to indicate a relatively flat trend pattern. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Medicaments Containing Vitamins Production in Slovakia

In value terms, medicaments containing vitamins production soared to $X in 2021 estimated in export price. Overall, production, however, saw a deep setback. The pace of growth appeared the most rapid in 2020 when the production volume increased by 55%. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

Medicaments Containing Vitamins Exports

Exports from Slovakia

In 2021, shipments abroad of medicaments containing vitamins and provitamins was finally on the rise to reach X tons for the first time since 2017, thus ending a three-year declining trend. Over the period under review, exports, however, saw a abrupt slump. The most prominent rate of growth was recorded in 2013 with an increase of 30%. The exports peaked at X tons in 2014; however, from 2015 to 2021, the exports remained at a lower figure.

In value terms, medicaments containing vitamins exports surged to $X in 2021. Overall, exports, however, showed a noticeable descent. The growth pace was the most rapid in 2013 when exports increased by 121%. As a result, the exports attained the peak of $X. From 2014 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

Russia (X tons) was the main destination for medicaments containing vitamins exports from Slovakia, with a 49% share of total exports. Moreover, medicaments containing vitamins exports to Russia exceeded the volume sent to the second major destination, the Czech Republic (X tons), twofold. Germany (X tons) ranked third in terms of total exports with a 7.4% share.

From 2012 to 2021, the average annual growth rate of volume to Russia amounted to -10.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Czech Republic (+0.9% per year) and Germany (+55.1% per year).

In value terms, the largest markets for medicaments containing vitamins exported from Slovakia were Russia ($X), the Czech Republic ($X) and Germany ($X), with a combined 56% share of total exports. These countries were followed by Hungary, Denmark, Poland and Latvia, which together accounted for a further 25%.

Denmark, with a CAGR of +300.2%, 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 medicaments containing vitamins export price amounted to $X per ton, surging by 12% against the previous year. Overall, export price indicated a notable expansion from 2012 to 2021: its price increased at an average annual rate of +3.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, medicaments containing vitamins export price increased by +59.9% against 2017 indices. The most prominent rate of growth was recorded in 2013 an increase of 70% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2014 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 Poland ($X per ton), while the average price for exports to Russia ($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 Myanmar (+38.3%), while the prices for the other major destinations experienced a decline.

Medicaments Containing Vitamins Imports

Imports into Slovakia

In 2021, the amount of medicaments containing vitamins and provitamins imported into Slovakia soared to X tons, with an increase of 17% on the year before. In general, total imports indicated a resilient increase from 2012 to 2021: its volume increased at an average annual rate of +7.0% 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 +129.5% against 2015 indices. The pace of growth was the most pronounced in 2020 when imports increased by 31%. Imports peaked in 2021 and are expected to retain growth in the near future.

In value terms, medicaments containing vitamins imports expanded significantly to $X in 2021. Over the period under review, imports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when imports increased by 32% against the previous year. As a result, imports reached the peak of $X. From 2014 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2021, Germany (X tons) constituted the largest supplier of medicaments containing vitamins to Slovakia, with a 55% share of total imports. Moreover, medicaments containing vitamins imports from Germany exceeded the figures recorded by the second-largest supplier, the Czech Republic (X tons), fourfold. The third position in this ranking was taken by France (X tons), with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Germany amounted to +22.9%. The remaining supplying countries recorded the following average annual rates of imports growth: the Czech Republic (+17.3% per year) and France (+13.1% per year).

In value terms, Germany ($X), the Czech Republic ($X) and France ($X) were the largest medicaments containing vitamins suppliers to Slovakia, together comprising 82% of total imports.

In terms of the main suppliers, Germany, with a CAGR of +22.1%, recorded the highest rates of growth with regard to 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 medicaments containing vitamins import price stood at $X per ton in 2021, reducing by -8.1% against the previous year. Overall, the import price continues to indicate a abrupt descent. The most prominent rate of growth was recorded in 2014 an increase of 9.9%. As a result, import price attained the peak level of $X per ton. From 2015 to 2021, the average import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Italy (+3.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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