United Kingdom: Medicaments Containing Insulin Market 2024

Medicaments Containing Insulin Market Size in the UK

The UK medicaments containing insulin market rose markedly to $X in 2021, increasing by 14% against the previous year. Over the period under review, consumption saw a buoyant increase. Medicaments containing insulin consumption peaked at $X in 2014; however, from 2015 to 2021, consumption stood at a somewhat lower figure.

Medicaments Containing Insulin Production in the UK

In value terms, medicaments containing insulin production reached $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.7% over the period from 2012 to 2021; the trend pattern remained consistent, with only minor fluctuations throughout the analyzed period. The pace of growth appeared the most rapid in 2013 when the production volume increased by 17% against the previous year. Medicaments containing insulin production peaked at $X in 2015; however, from 2016 to 2021, production stood at a somewhat lower figure.

Medicaments Containing Insulin Exports

Exports from the UK

In 2021, medicaments containing insulin exports from the UK fell remarkably to X tons, reducing by -57.9% compared with the year before. Overall, exports continue to indicate a dramatic shrinkage. The most prominent rate of growth was recorded in 2016 when exports increased by 491%. The exports peaked at X tons in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, medicaments containing insulin exports declined sharply to $X in 2021. Over the period under review, exports continue to indicate a deep contraction. The most prominent rate of growth was recorded in 2016 when exports increased by 255% against the previous year. Over the period under review, the exports attained the maximum at $X in 2013; however, from 2014 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Malaysia (X tons) was the main destination for medicaments containing insulin exports from the UK, with a 66% share of total exports. Moreover, medicaments containing insulin exports to Malaysia exceeded the volume sent to the second major destination, Myanmar (X kg), threefold. The third position in this ranking was held by the United States (X kg), with a 4.4% share.

From 2012 to 2021, the average annual growth rate of volume to Malaysia stood at +21.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Myanmar (+9.4% per year) and the United States (-10.9% per year).

In value terms, Malaysia ($X) remains the key foreign market for medicaments containing insulin but not antibiotics exports from the UK, comprising 58% of total exports. The second position in the ranking was taken by Myanmar ($X), with a 15% share of total exports. It was followed by Qatar, with a 10% share.

From 2012 to 2021, the average annual growth rate of value to Malaysia stood at +25.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Myanmar (+10.3% per year) and Qatar (+23.3% per year).

Export Prices by Country

The average medicaments containing insulin export price stood at $X per ton in 2021, surging by 91% against the previous year. In general, the export price continues to indicate strong growth. The most prominent rate of growth was recorded in 2013 when the average export price increased by 169% against the previous year. Over the period under review, the average export prices hit record highs in 2021 and is likely to continue growth in years to come.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Serbia ($X per ton), while the average price for exports to Thailand ($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 Serbia (+65.4%), while the prices for the other major destinations experienced more modest paces of growth.

Medicaments Containing Insulin Imports

Imports into the UK

In 2021, overseas purchases of medicaments containing insulin but not antibiotics increased by 11% to X kg, rising for the second year in a row after two years of decline. Over the period under review, imports, however, showed a abrupt contraction. The pace of growth was the most pronounced in 2014 when imports increased by 2,327% against the previous year. As a result, imports reached the peak of X tons. From 2015 to 2021, the growth of imports failed to regain momentum.

In value terms, medicaments containing insulin imports expanded significantly to $X in 2021. In general, imports, however, showed a abrupt contraction. The pace of growth appeared the most rapid in 2014 with an increase of 702% against the previous year. As a result, imports attained the peak of $X. From 2015 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2021, Turkey (X kg) constituted the largest supplier of medicaments containing insulin to the UK, accounting for a 66% share of total imports. Moreover, medicaments containing insulin imports from Turkey exceeded the figures recorded by the second-largest supplier, Italy (X kg), more than tenfold. France (X kg) ranked third in terms of total imports with a 3.2% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Turkey amounted to -13.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+9.4% per year) and France (-25.2% per year).

In value terms, Turkey ($X), Germany ($X) and Italy ($X) appeared to be the largest medicaments containing insulin suppliers to the UK, together comprising 37% of total imports. Romania, France, India and the United States lagged somewhat behind, together comprising a further 16%.

Among the main suppliers, Romania, with a CAGR of +50.3%, recorded the highest growth rate of 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

The average medicaments containing insulin import price stood at $X per ton in 2021, growing by 3.4% against the previous year. Overall, the import price continues to indicate a strong increase. The growth pace was the most rapid in 2015 an increase of 97%. Over the period under review, average import prices hit record highs in 2021 and is expected to retain growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Romania ($X per ton), while the price for the United States ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Switzerland (+153.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :