South Africa: Medicaments Containing Insulin Market 2024

Medicaments Containing Insulin Market Size in South Africa

In 2021, the South African medicaments containing insulin market decreased by -28.8% to $X, falling for the fifth consecutive year after five years of growth. In general, consumption showed a noticeable setback. Medicaments containing insulin consumption peaked at $X in 2016; however, from 2017 to 2021, consumption remained at a lower figure.

Medicaments Containing Insulin Production in South Africa

In value terms, medicaments containing insulin production amounted to less than $X in 2021 estimated in export price. Over the period under review, production posted a prominent increase. The most prominent rate of growth was recorded in 2015 when the production volume increased by 351%. As a result, production attained the peak level of $X. From 2016 to 2021, production growth remained at a somewhat lower figure.

Medicaments Containing Insulin Exports

Exports from South Africa

In 2021, after two years of decline, there was significant growth in shipments abroad of medicaments containing insulin but not antibiotics, when their volume increased by 614% to X kg. Over the period under review, exports, however, recorded a significant decline. Over the period under review, the exports hit record highs at X tons in 2015; however, from 2016 to 2021, the exports failed to regain momentum.

In value terms, medicaments containing insulin exports soared to $X in 2021. In general, exports, however, saw a significant curtailment. The growth pace was the most rapid in 2015 when exports increased by 249% against the previous year. As a result, the exports reached the peak of $X. From 2016 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

Lesotho (X kg) was the main destination for medicaments containing insulin exports from South Africa, accounting for a 46% share of total exports. Moreover, medicaments containing insulin exports to Lesotho exceeded the volume sent to the second major destination, Botswana (X kg), threefold. The third position in this ranking was taken by Burundi (X kg), with a 16% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Lesotho totaled -8.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Botswana (+13.9% per year) and Burundi (+10.6% per year).

In value terms, Ghana ($X) remains the key foreign market for medicaments containing insulin but not antibiotics exports from South Africa, comprising 55% of total exports. The second position in the ranking was held by Botswana ($X), with a 21% share of total exports. It was followed by Lesotho, with an 11% share.

From 2012 to 2021, the average annual growth rate of value to Ghana amounted to +50.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Botswana (-7.5% per year) and Lesotho (-45.5% per year).

Export Prices by Country

The average medicaments containing insulin export price stood at $X per ton in 2021, reducing by -71% against the previous year. In general, the export price continues to indicate a abrupt contraction. The pace of growth appeared the most rapid in 2019 an increase of 149% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was Zambia ($X per ton), while the average price for exports to Mozambique ($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 Namibia (+26.5%), while the prices for the other major destinations experienced mixed trend patterns.

Medicaments Containing Insulin Imports

Imports into South Africa

In 2021, the amount of medicaments containing insulin but not antibiotics imported into South Africa contracted notably to X kg, which is down by -73.5% against the previous year. Overall, imports recorded a pronounced decrease. The pace of growth was the most pronounced in 2019 with an increase of 26,733%. As a result, imports attained the peak of X kg. From 2020 to 2021, the growth of imports failed to regain momentum.

In value terms, medicaments containing insulin imports contracted significantly to $X in 2021. Over the period under review, imports, however, showed a significant increase. The pace of growth appeared the most rapid in 2019 when imports increased by 26,736%. As a result, imports reached the peak of $X. From 2020 to 2021, the growth of imports failed to regain momentum.

Imports by Country

In 2021, Denmark (X kg) constituted the largest medicaments containing insulin supplier to South Africa, with a 60% share of total imports. Moreover, medicaments containing insulin imports from Denmark exceeded the figures recorded by the second-largest supplier, the United States (X kg), twofold. The third position in this ranking was held by Botswana (X kg), with an 8.1% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Denmark totaled +49.4%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+5.5% per year) and Botswana (+14.3% per year).

In value terms, the United States ($X) constituted the largest supplier of medicaments containing insulin but not antibiotics to South Africa, comprising 90% of total imports. The second position in the ranking was taken by Denmark ($X), with a 5.1% share of total imports. It was followed by Botswana, with a 4.5% share.

From 2012 to 2021, the average annual rate of growth in terms of value from the United States totaled +52.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Denmark (+62.0% per year) and Botswana (+48.6% per year).

Import Prices by Country

The average medicaments containing insulin import price stood at $X per ton in 2021, increasing by 80% against the previous year. In general, the import price continues to indicate significant growth. The growth pace was the most rapid in 2014 an increase of 180% against the previous year. Over the period under review, average import prices reached the peak figure in 2021 and is expected to retain growth in the immediate term.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+44.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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