Thailand: Market for Medicaments Containing Corticosteroid Hormones 2024

Market Size for Medicaments Containing Corticosteroid Hormones in Thailand

In 2021, the Thai medicaments containing corticosteroid hormones market decreased by -29.3% to $X, falling for the second year in a row after three years of growth. Overall, consumption, however, showed a resilient expansion. Over the period under review, the market hit record highs at $X in 2019; however, from 2020 to 2021, consumption stood at a somewhat lower figure.

Exports of Medicaments Containing Corticosteroid Hormones

Exports from Thailand

In 2021, shipments abroad of medicaments containing corticosteroid hormones was finally on the rise to reach X tons for the first time since 2018, thus ending a two-year declining trend. In general, exports enjoyed a resilient increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, medicaments containing corticosteroid hormones exports soared to $X in 2021. Over the period under review, exports, however, continue to indicate a deep contraction. The growth pace was the most rapid in 2018 when exports increased by 142%. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

The Philippines (X tons), Lao People's Democratic Republic (X tons) and Myanmar (X tons) were the main destinations of medicaments containing corticosteroid hormones exports from Thailand, with a combined 84% share of total exports. These countries were followed by Cambodia, Hong Kong SAR, Vietnam and Singapore, which together accounted for a further 15%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Hong Kong SAR (with a CAGR of +48.3%), while the other leaders experienced more modest paces of growth.

In value terms, Lao People's Democratic Republic ($X) remains the key foreign market for medicaments containing corticosteroid hormones exports from Thailand, comprising 49% of total exports. The second position in the ranking was taken by Myanmar ($X), with an 18% share of total exports. It was followed by Cambodia, with a 14% share.

From 2012 to 2021, the average annual growth rate of value to Lao People's Democratic Republic amounted to +9.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Myanmar (+12.8% per year) and Cambodia (+16.1% per year).

Export Prices by Country

The average medicaments containing corticosteroid hormones export price stood at $X per ton in 2021, falling by -51.4% against the previous year. Overall, the export price continues to indicate a dramatic descent. The pace of growth was the most pronounced in 2014 an increase of 20%. The export price peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably country of destination: the country with the highest price was Vietnam ($X per ton), while the average price for exports to the Philippines ($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 Myanmar (+3.0%), while the prices for the other major destinations experienced a decline.

Imports of Medicaments Containing Corticosteroid Hormones

Imports into Thailand

In 2021, after two years of decline, there was growth in supplies from abroad of medicaments containing corticosteroid hormones, when their volume increased by 3.5% to X tons. Over the period under review, total imports indicated a perceptible expansion from 2012 to 2021: its volume increased at an average annual rate of +4.7% 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 -1.5% against 2018 indices. The pace of growth appeared the most rapid in 2018 when imports increased by 20% against the previous year. As a result, imports reached the peak of X tons. From 2019 to 2021, the growth of imports failed to regain momentum.

In value terms, medicaments containing corticosteroid hormones imports expanded slightly to $X in 2021. Overall, imports recorded a buoyant expansion. The growth pace was the most rapid in 2015 when imports increased by 65% against the previous year. Imports peaked at $X in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Sweden (X tons) constituted the largest supplier of medicaments containing corticosteroid hormones to Thailand, accounting for a 40% share of total imports. Moreover, medicaments containing corticosteroid hormones imports from Sweden exceeded the figures recorded by the second-largest supplier, Spain (X tons), fourfold. The third position in this ranking was taken by Belgium (X tons), with an 8.7% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Sweden totaled +6.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (+89.6% per year) and Belgium (+16.5% per year).

In value terms, the United States ($X), Germany ($X) and Belgium ($X) were the largest medicaments containing corticosteroid hormones suppliers to Thailand, together accounting for 41% of total imports. Spain, the UK, Sweden, France, Austria and Indonesia lagged somewhat behind, together comprising a further 29%.

Spain, with a CAGR of +95.2%, recorded 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

The average medicaments containing corticosteroid hormones import price stood at $X per ton in 2021, approximately reflecting the previous year. Over the period under review, the import price, however, posted a resilient expansion. The growth pace was the most rapid in 2015 when the average import price increased by 39%. Over the period under review, average import prices reached the peak figure at $X per ton in 2020, and then fell modestly in the following year.

Prices varied noticeably country of origin: the country with the highest price was Germany ($X per ton), while the price for Sweden ($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 (+15.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :