Uruguay: Antibiotic Market 2024

Antibiotic Market Size in Uruguay

After three years of growth, the Uruguayan antibiotic market decreased by -2.9% to $X in 2021. The market value increased at an average annual rate of +2.4% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market attained the peak level at $X in 2020, and then shrank in the following year.

Antibiotic Production in Uruguay

In value terms, antibiotic production shrank to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +4.1% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2015 with an increase of 5.2% against the previous year. Over the period under review, production reached the peak level at $X in 2020, and then dropped modestly in the following year.

Antibiotic Exports

Exports from Uruguay

For the tenth consecutive year, Uruguay recorded growth in shipments abroad of antibiotics, which increased by 10% to X tons in 2021. In general, exports continue to indicate significant growth. The pace of growth appeared the most rapid in 2016 with an increase of 65%. Over the period under review, the exports hit record highs in 2021 and are expected to retain growth in years to come.

In value terms, antibiotic exports skyrocketed to $X in 2021. Over the period under review, exports posted significant growth. The growth pace was the most rapid in 2015 with an increase of 78% against the previous year. Over the period under review, the exports hit record highs in 2021 and are likely to see gradual growth in years to come.

Exports by Country

South Africa (X tons) was the main destination for antibiotic exports from Uruguay, with a 78% share of total exports. It was followed by the Dominican Republic (X tons), with a 2.6% share of total exports. Venezuela (X kg) ranked third in terms of total exports with a 2.2% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to South Africa totaled +22.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Dominican Republic (+23.9% per year) and Venezuela (+19.8% per year).

In value terms, Venezuela ($X) remains the key foreign market for antibiotics exports from Uruguay, comprising 54% of total exports. The second position in the ranking was taken by South Africa ($X), with a 26% share of total exports. It was followed by India, with a 6.6% share.

From 2012 to 2021, the average annual growth rate of value to Venezuela totaled +29.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: South Africa (+18.3% per year) and India (0.0% per year).

Export Prices by Country

In 2021, the average antibiotic export price amounted to $X per ton, growing by 4.8% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +2.9%. The growth pace was the most rapid in 2015 when the average export price increased by 40% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2016 to 2021, the average export prices failed to regain momentum.

There were significant differences in the average prices for the major export markets. In 2021, amid the top suppliers, the country with the highest price was Venezuela ($X per ton), while the average price for exports to South Africa ($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 Venezuela (+7.9%), while the prices for the other major destinations experienced mixed trend patterns.

Antibiotic Imports

Imports into Uruguay

In 2021, imports of antibiotics into Uruguay contracted modestly to X tons, waning by -4.3% against the previous year's figure. Over the period under review, imports showed a relatively flat trend pattern. The growth pace was the most rapid in 2013 when imports increased by 25%. As a result, imports reached the peak of X tons. From 2014 to 2021, the growth of imports remained at a lower figure.

In value terms, antibiotic imports dropped to $X in 2021. In general, imports showed a pronounced descent. The pace of growth was the most pronounced in 2015 when imports increased by 13% against the previous year. Imports peaked at $X in 2013; however, from 2014 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of antibiotic to Uruguay, accounting for a 89% share of total imports. Moreover, antibiotic imports from China exceeded the figures recorded by the second-largest supplier, the Netherlands (X tons), tenfold. The third position in this ranking was held by Mexico (X tons), with a 6.1% share.

From 2012 to 2021, the average annual growth rate of volume from China stood at +13.0%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (-9.0% per year) and Mexico (-14.4% per year).

In value terms, China ($X) constituted the largest supplier of antibiotics to Uruguay, comprising 78% of total imports. The second position in the ranking was held by India ($X), with a 9.9% share of total imports. It was followed by Mexico, with a 7.2% share.

From 2012 to 2021, the average annual growth rate of value from China totaled +10.5%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+17.0% per year) and Mexico (-7.5% per year).

Import Prices by Country

The average antibiotic import price stood at $X per ton in 2021, waning by -8.4% against the previous year. In general, the import price saw a perceptible decline. The pace of growth was the most pronounced in 2018 an increase of 17%. The import price peaked at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

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 India ($X per ton), while the price for Spain ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Mexico (+8.0%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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