Venezuela: Medical Gel Preparations Market 2024

Medical Gel Preparations Market Size in Venezuela

The Venezuelan medical gel preparations market expanded to $X in 2022, with an increase of 3.3% against the previous year. Overall, the total consumption indicated a pronounced increase from 2012 to 2022: its value increased at an average annual rate of +3.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -7.5% against 2020 indices. Medical gel preparations consumption peaked at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Medical Gel Preparations Production in Venezuela

In value terms, medical gel preparations production reduced to $X in 2022 estimated in export price. In general, the total production indicated a modest increase from 2012 to 2022: its value increased at an average annual rate of +1.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +5.8% against 2020 indices. The most prominent rate of growth was recorded in 2016 with an increase of 126%. As a result, production reached the peak level of $X. From 2017 to 2022, production growth remained at a somewhat lower figure.

Medical Gel Preparations Exports

Exports from Venezuela

In 2022, after nine years of decline, there was significant growth in shipments abroad of gel preparations for human or veterinary medicine, when their volume increased by 33% to X kg. Over the period under review, exports, however, faced a significant decline. Over the period under review, the exports hit record highs at X tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, medical gel preparations exports rose sharply to $X in 2022. Overall, exports, however, saw a dramatic contraction. Over the period under review, the exports attained the maximum at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

Colombia (X kg) was the main destination for medical gel preparations exports from Venezuela, with a approx. 100% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of volume to Colombia totaled -56.3%.

In value terms, Colombia ($X) also remains the key foreign market for gel preparations for human or veterinary medicine exports from Venezuela.

From 2012 to 2022, the average annual growth rate of value to Colombia amounted to -47.0%.

Export Prices by Country

The average medical gel preparations export price stood at $X per ton in 2022, reducing by -17.8% against the previous year. In general, the export price, however, posted a significant increase. The most prominent rate of growth was recorded in 2014 an increase of 86% against the previous year. Over the period under review, the average export prices attained the peak figure at $X per ton in 2021, and then contracted significantly in the following year.

As there is only one major export destination, the average price level is determined by prices for Colombia.

From 2012 to 2022, the rate of growth in terms of prices for Colombia amounted to +21.2% per year.

Medical Gel Preparations Imports

Imports into Venezuela

In 2022, medical gel preparations imports into Venezuela skyrocketed to X tons, surging by 44% compared with the year before. In general, imports showed a remarkable increase. The pace of growth appeared the most rapid in 2019 with an increase of 774%. Over the period under review, imports reached the peak figure at X tons in 2020; however, from 2021 to 2022, imports failed to regain momentum.

In value terms, medical gel preparations imports skyrocketed to $X in 2022. Over the period under review, imports, however, saw a pronounced contraction. The pace of growth was the most pronounced in 2019 with an increase of 452%. Imports peaked at $X in 2015; however, from 2016 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Cuba (X tons) constituted the largest supplier of medical gel preparations to Venezuela, with a 85% share of total imports. Moreover, medical gel preparations imports from Cuba exceeded the figures recorded by the second-largest supplier, Turkey (X tons), more than tenfold. Colombia (X tons) ranked third in terms of total imports with a 4% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Cuba amounted to +17.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (0.0% per year) and Colombia (+13.2% per year).

In value terms, the largest medical gel preparations suppliers to Venezuela were Cuba ($X), Colombia ($X) and the UK ($X), with a combined 83% share of total imports.

Colombia, with a CAGR of +15.8%, recorded the highest rates of growth with regard to the value of imports, in terms of 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 medical gel preparations import price stood at $X per ton in 2022, growing by 74% against the previous year. Over the period under review, the import price, however, showed a abrupt shrinkage. The most prominent rate of growth was recorded in 2015 an increase of 125% against the previous year. As a result, import price reached the peak level of $X per ton. From 2016 to 2022, the average import prices remained at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Colombia (+2.3%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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