Spain: Market for Medicaments Containing Corticosteroid Hormones 2024

Market Size for Medicaments Containing Corticosteroid Hormones in Spain

In 2021, the Spanish medicaments containing corticosteroid hormones market decreased by -41.8% to $X for the first time since 2018, thus ending a two-year rising trend. Over the period under review, consumption continues to indicate a mild curtailment. As a result, consumption reached the peak level of $X. From 2017 to 2021, the growth of the market remained at a somewhat lower figure.

Production of Medicaments Containing Corticosteroid Hormones in Spain

In value terms, medicaments containing corticosteroid hormones production surged to $X in 2021 estimated in export price. In general, production, however, recorded resilient growth. As a result, production attained the peak level and is likely to continue growth in the immediate term.

Exports of Medicaments Containing Corticosteroid Hormones

Exports from Spain

Medicaments containing corticosteroid hormones exports from Spain stood at X tons in 2021, with an increase of 3.4% on 2020 figures. Overall, exports saw a buoyant increase. The most prominent rate of growth was recorded in 2014 when exports increased by 85% against the previous year. The exports peaked at X tons in 2016; however, from 2017 to 2021, the exports remained at a lower figure.

In value terms, medicaments containing corticosteroid hormones exports amounted to $X in 2021. In general, total exports indicated a strong increase from 2012 to 2021: its value increased at an average annual rate of +5.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports decreased by -11.1% against 2019 indices. The most prominent rate of growth was recorded in 2014 when exports increased by 75% against the previous year. The exports peaked at $X in 2015; however, from 2016 to 2021, the exports failed to regain momentum.

Exports by Country

Germany (X tons), China (X tons) and the UK (X tons) were the main destinations of medicaments containing corticosteroid hormones exports from Spain, together comprising 38% of total exports.

From 2012 to 2021, the biggest increases were recorded for China (with a CAGR of +72.0%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for medicaments containing corticosteroid hormones exported from Spain were Germany ($X), Canada ($X) and the United States ($X), with a combined 34% share of total exports. Italy, the UK, Portugal, China, Belgium, France, Switzerland, Japan, Brazil and Poland lagged somewhat behind, together accounting for a further 37%.

Among the main countries of destination, China, with a CAGR of +63.1%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average medicaments containing corticosteroid hormones export price stood at $X per ton in 2021, increasing by 2.5% against the previous year. Overall, the export price, however, recorded a drastic downturn. The pace of growth was the most pronounced in 2018 when the average export price increased by 23%. The export price peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major external markets. In 2021, the country with the highest price was Canada ($X per ton), while the average price for exports to China ($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 Portugal (+20.0%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Medicaments Containing Corticosteroid Hormones

Imports into Spain

In 2021, supplies from abroad of medicaments containing corticosteroid hormones decreased by -44.2% to X tons, falling for the second consecutive year after two years of growth. Over the period under review, imports continue to indicate a abrupt shrinkage. The pace of growth was the most pronounced in 2018 with an increase of 33% against the previous year. Imports peaked at X tons in 2019; however, from 2020 to 2021, imports remained at a lower figure.

In value terms, medicaments containing corticosteroid hormones imports reduced to $X in 2021. Overall, total imports indicated measured growth from 2012 to 2021: its value increased at an average annual rate of +3.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2014 when imports increased by 29%. Over the period under review, imports attained the maximum at $X in 2020, and then contracted in the following year.

Imports by Country

In 2021, Italy (X tons) constituted the largest supplier of medicaments containing corticosteroid hormones to Spain, with a 49% share of total imports. Moreover, medicaments containing corticosteroid hormones imports from Italy exceeded the figures recorded by the second-largest supplier, Germany (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 growth rate of volume from Italy stood at +6.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-11.0% per year) and France (-7.8% per year).

In value terms, Germany ($X), Belgium ($X) and France ($X) appeared to be the largest medicaments containing corticosteroid hormones suppliers to Spain, with a combined 61% share of total imports.

Germany, with a CAGR of +12.9%, saw the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average medicaments containing corticosteroid hormones import price amounted to $X per ton, picking up by 55% against the previous year. In general, the import price enjoyed a strong increase. The pace of growth was the most pronounced in 2020 an increase of 57% against the previous year. The import price peaked in 2021 and is expected to retain growth in the near future.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Ireland (+27.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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