Sri Lanka: Market for Medicaments Containing Corticosteroid Hormones 2024

Market Size for Medicaments Containing Corticosteroid Hormones in Sri Lanka

In 2021, the Sri Lankan medicaments containing corticosteroid hormones market decreased by -32.1% to $X, falling for the third year in a row after four years of growth. In general, consumption, however, posted pronounced growth. Medicaments containing corticosteroid hormones consumption peaked at $X in 2018; however, from 2019 to 2021, consumption failed to regain momentum.

Exports of Medicaments Containing Corticosteroid Hormones

Exports from Sri Lanka

In 2021, shipments abroad of medicaments containing corticosteroid hormones increased by 249% to X tons, rising for the second year in a row after three years of decline. Over the period under review, exports saw a significant increase. The most prominent rate of growth was recorded in 2013 when exports increased by 1,973% against the previous year. The exports peaked in 2021 and are likely to see gradual growth in years to come.

In value terms, medicaments containing corticosteroid hormones exports skyrocketed to $X in 2021. In general, exports posted significant growth. The pace of growth appeared the most rapid in 2013 with an increase of 1,004% against the previous year. Over the period under review, the exports hit record highs in 2021 and are expected to retain growth in the near future.

Exports by Country

Oman (X tons) was the main destination for medicaments containing corticosteroid hormones exports from Sri Lanka, accounting for a 92% share of total exports. Moreover, medicaments containing corticosteroid hormones exports to Oman exceeded the volume sent to the second major destination, Maldives (X kg), more than tenfold. Zambia (X kg) ranked third in terms of total exports with a 1.7% share.

From 2012 to 2021, the average annual growth rate of volume to Oman was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Maldives (+55.8% per year) and Zambia (+97.4% per year).

In value terms, Oman ($X) emerged as the key foreign market for medicaments containing corticosteroid hormones exports from Sri Lanka, comprising 85% of total exports. The second position in the ranking was held by Maldives ($X), with an 8.2% share of total exports. It was followed by Seychelles, with a 2.6% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Oman was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Maldives (+54.8% per year) and Seychelles (+28.1% per year).

Export Prices by Country

In 2021, the average medicaments containing corticosteroid hormones export price amounted to $X per ton, waning by -44.1% against the previous year. Overall, the export price saw a abrupt downturn. The pace of growth appeared the most rapid in 2017 an increase of 105%. 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 external markets. In 2021, the country with the highest price was Maldives ($X per ton), while the average price for exports to Zambia ($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 Sudan (+137.9%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Medicaments Containing Corticosteroid Hormones

Imports into Sri Lanka

In 2021, supplies from abroad of medicaments containing corticosteroid hormones decreased by -51.8% to X tons, falling for the third consecutive year after four years of growth. Overall, imports recorded a mild setback. The pace of growth appeared the most rapid in 2016 with an increase of 556%. Imports peaked at X tons in 2018; however, from 2019 to 2021, imports failed to regain momentum.

In value terms, medicaments containing corticosteroid hormones imports stood at $X in 2021. In general, imports, however, recorded buoyant growth. The pace of growth was the most pronounced in 2016 when imports increased by 567% against the previous year. Over the period under review, imports hit record highs at $X in 2018; however, from 2019 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, Argentina (X tons) constituted the largest medicaments containing corticosteroid hormones supplier to Sri Lanka, accounting for a 26% share of total imports. Moreover, medicaments containing corticosteroid hormones imports from Argentina exceeded the figures recorded by the second-largest supplier, Malaysia (X tons), twofold. The third position in this ranking was taken by Pakistan (X tons), with an 8.6% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Argentina stood at +18.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (-3.0% per year) and Pakistan (+6.3% per year).

In value terms, Argentina ($X), Ireland ($X) and Sweden ($X) constituted the largest medicaments containing corticosteroid hormones suppliers to Sri Lanka, with a combined 15% share of total imports. Malaysia, France, Germany, Pakistan, Australia, China, Singapore and India lagged somewhat behind, together accounting for a further 15%.

France, with a CAGR of +39.7%, saw the highest rates of growth with regard to 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, jumping by 109% against the previous year. Over the period under review, the import price showed prominent growth. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Ireland ($X per ton), while the price for Singapore ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by India (+1.3%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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