South-Eastern Asia: Market for Medicaments Containing Corticosteroid Hormones 2024

Market Size for Medicaments Containing Corticosteroid Hormones in South-Eastern Asia

After two years of growth, the Southeast Asian medicaments containing corticosteroid hormones market decreased by -1.4% to $X in 2021. Overall, consumption, however, continues to indicate resilient growth. Over the period under review, the market reached the peak level at $X in 2020, and then contracted in the following year.

Production of Medicaments Containing Corticosteroid Hormones in South-Eastern Asia

In value terms, medicaments containing corticosteroid hormones production shrank to $X in 2021 estimated in export price. Overall, production continues to indicate a noticeable decrease. The pace of growth appeared the most rapid in 2014 when the production volume increased by 56% against the previous year. As a result, production reached the peak level of $X. From 2015 to 2021, production growth remained at a somewhat lower figure.

Exports of Medicaments Containing Corticosteroid Hormones

Exports in South-Eastern Asia

In 2021, overseas shipments of medicaments containing corticosteroid hormones were finally on the rise to reach X tons after two years of decline. Overall, exports, however, saw a abrupt downturn. The pace of growth was the most pronounced in 2014 when exports increased by 33% against the previous year. As a result, the exports reached the peak of X tons. From 2015 to 2021, the growth of the exports remained at a lower figure.

In value terms, medicaments containing corticosteroid hormones exports fell significantly to $X in 2021. Over the period under review, exports, however, continue to indicate a deep downturn. The most prominent rate of growth was recorded in 2014 when exports increased by 183% against the previous year. As a result, the exports attained the peak of $X. From 2015 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

Indonesia was the main exporter of medicaments containing corticosteroid hormones in South-Eastern Asia, with the volume of exports finishing at X tons, which was near 56% of total exports in 2021. Thailand (X tons) ranks second in terms of the total exports with a 20% share, followed by Singapore (16%) and Malaysia (6.8%).

Exports from Indonesia decreased at an average annual rate of -10.9% from 2012 to 2021. At the same time, Thailand (+6.0%) displayed positive paces of growth. Moreover, Thailand emerged as the fastest-growing exporter exported in South-Eastern Asia, with a CAGR of +6.0% from 2012-2021. By contrast, Malaysia (-3.8%) and Singapore (-16.5%) illustrated a downward trend over the same period. Thailand (+16 p.p.) and Malaysia (+3.1 p.p.) significantly strengthened its position in terms of the total exports, while Indonesia and Singapore saw its share reduced by -3.9% and -15.1% from 2012 to 2021, respectively.

In value terms, Singapore ($X) remains the largest medicaments containing corticosteroid hormones supplier in South-Eastern Asia, comprising 73% of total exports. The second position in the ranking was taken by Indonesia ($X), with a 19% share of total exports. It was followed by Malaysia, with a 3.9% share.

In Singapore, medicaments containing corticosteroid hormones exports decreased by an average annual rate of -10.6% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Indonesia (-8.8% per year) and Malaysia (-4.7% per year).

Export Prices by Country

The export price in South-Eastern Asia stood at $X per ton in 2021, falling by -30.4% against the previous year. Over the period under review, the export price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when the export price increased by 113%. The level of export peaked at $X per ton in 2020, and then shrank remarkably in the following year.

Prices varied noticeably country of origin: the country with the highest price was Singapore ($X per ton), while Thailand ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Singapore (+7.1%), while the other leaders experienced mixed trends in the export price figures.

Imports of Medicaments Containing Corticosteroid Hormones

Imports in South-Eastern Asia

In 2021, overseas purchases of medicaments containing corticosteroid hormones decreased by -0.4% to X tons, falling for the second consecutive year after three years of growth. Total imports indicated prominent growth from 2012 to 2021: its volume increased at an average annual rate of +5.2% 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 decreased by -0.5% against 2019 indices. The pace of growth appeared the most rapid in 2017 when imports increased by 35%. The volume of import peaked at X tons in 2019; afterwards, it flattened through to 2021.

In value terms, medicaments containing corticosteroid hormones imports expanded to $X in 2021. Over the period under review, imports, however, posted a resilient increase. The most prominent rate of growth was recorded in 2015 with an increase of 53% against the previous year. Over the period under review, imports reached the maximum in 2021 and are expected to retain growth in the near future.

Imports by Country

In 2021, Vietnam (X tons) and Malaysia (X tons) represented the main importers of medicaments containing corticosteroid hormones in South-Eastern Asia, together making up 55% of total imports. Thailand (X tons) held the next position in the ranking, followed by Singapore (X tons), Indonesia (X tons) and the Philippines (X tons). All these countries together took near 40% share of total imports. Myanmar (X tons) followed a long way behind the leaders.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Malaysia (with a CAGR of +17.5%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Vietnam ($X), Thailand ($X) and Singapore ($X) constituted the countries with the highest levels of imports in 2021, together comprising 63% of total imports. Malaysia, the Philippines, Indonesia and Myanmar lagged somewhat behind, together accounting for a further 36%.

Among the main importing countries, Myanmar, with a CAGR of +26.8%, saw 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

In 2021, the import price in South-Eastern Asia amounted to $X per ton, with an increase of 3.5% against the previous year. Import price indicated a buoyant increase from 2012 to 2021: its price increased at an average annual rate of +6.0% 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 corticosteroid hormones import price increased by +30.3% against 2017 indices. The most prominent rate of growth was recorded in 2018 when the import price increased by 22% against the previous year. Over the period under review, import prices hit record highs in 2021 and is expected to retain growth in years to come.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was the Philippines ($X per ton), while Malaysia ($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 (+14.2%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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