Sri Lanka: Market for Medicaments Of Penicillins, Streptomycins Or Derivatives Thereof 2024

Market Size for Medicaments Of Penicillins, Streptomycins Or Derivatives Thereof in Sri Lanka

For the fourth consecutive year, the Sri Lankan penicillins or streptomycins medicaments market recorded decline in sales value, which decreased by -87.5% to $X in 2022. In general, consumption saw a precipitous slump. As a result, consumption reached the peak level of $X. From 2016 to 2022, the growth of the market failed to regain momentum.

Exports of Medicaments Of Penicillins, Streptomycins Or Derivatives Thereof

Exports from Sri Lanka

In 2022, after two years of growth, there was significant decline in overseas shipments of medicaments of penicillins, streptomycins or derivatives thereof, when their volume decreased by -86% to X kg. Over the period under review, exports recorded a deep reduction. The growth pace was the most rapid in 2016 when exports increased by 4,767% against the previous year. Over the period under review, the exports attained the maximum at X kg in 2021, and then declined markedly in the following year.

In value terms, penicillins or streptomycins medicaments exports declined significantly to $X in 2022. Overall, exports recorded a deep reduction. The most prominent rate of growth was recorded in 2016 with an increase of 1,587%. The exports peaked at $X in 2021, and then reduced markedly in the following year.

Exports by Country

Australia (X kg) was the main destination for penicillins or streptomycins medicaments exports from Sri Lanka, accounting for a 52% share of total exports. Moreover, penicillins or streptomycins medicaments exports to Australia exceeded the volume sent to the second major destination, Maldives (X kg), twofold. Pakistan (X kg) ranked third in terms of total exports with an 18% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Australia was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Maldives (-9.6% per year) and Pakistan (+34.5% per year).

In value terms, the largest markets for penicillins or streptomycins medicaments exported from Sri Lanka were Australia ($X), Pakistan ($X) and Maldives ($X), together accounting for 99% of total exports.

Pakistan, with a CAGR of +51.2%, recorded the highest rates of growth with regard to 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

The average penicillins or streptomycins medicaments export price stood at $X per ton in 2022, rising by 12% against the previous year. Overall, the export price showed a noticeable increase. The pace of growth was the most pronounced in 2018 an increase of 168%. The export price peaked at $X per ton in 2020; however, from 2021 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Pakistan ($X per ton), while the average price for exports to Solomon Islands ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the UK (+24.9%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Medicaments Of Penicillins, Streptomycins Or Derivatives Thereof

Imports into Sri Lanka

For the fourth year in a row, Sri Lanka recorded decline in overseas purchases of medicaments of penicillins, streptomycins or derivatives thereof, which decreased by -93.1% to X tons in 2022. Over the period under review, imports faced a sharp decrease. The most prominent rate of growth was recorded in 2015 when imports increased by 104%. As a result, imports attained the peak of X tons. From 2016 to 2022, the growth of imports remained at a lower figure.

In value terms, penicillins or streptomycins medicaments imports dropped sharply to $X in 2022. Overall, imports saw a deep setback. The most prominent rate of growth was recorded in 2015 with an increase of 112%. As a result, imports reached the peak of $X. From 2016 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2022, the UK (X tons) constituted the largest penicillins or streptomycins medicaments supplier to Sri Lanka, accounting for a 78% share of total imports. Moreover, penicillins or streptomycins medicaments imports from the UK exceeded the figures recorded by the second-largest supplier, France (X tons), fourfold.

From 2012 to 2022, the average annual rate of growth in terms of volume from the UK totaled -22.0%. The remaining supplying countries recorded the following average annual rates of imports growth: France (-4.8% per year) and Singapore (-43.6% per year).

In value terms, the UK ($X) constituted the largest supplier of medicaments of penicillins, streptomycins or derivatives thereof to Sri Lanka, comprising 87% of total imports. The second position in the ranking was taken by France ($X), with a 13% share of total imports.

From 2012 to 2022, the average annual growth rate of value from the UK totaled -4.6%. The remaining supplying countries recorded the following average annual rates of imports growth: France (-1.7% per year) and Singapore (-30.9% per year).

Import Prices by Country

In 2022, the average penicillins or streptomycins medicaments import price amounted to $X per ton, growing by 499% against the previous year. Over the period under review, the import price saw a significant increase. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+50.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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