Venezuela: Market for Medicaments Containing Corticosteroid Hormones 2024

Market Size for Medicaments Containing Corticosteroid Hormones in Venezuela

The Venezuelan medicaments containing corticosteroid hormones market declined slightly to $X in 2021, approximately mirroring the previous year. Overall, consumption, however, showed a slight increase. As a result, consumption reached the peak level of $X. From 2016 to 2021, the growth of the market failed to regain momentum.

Production of Medicaments Containing Corticosteroid Hormones in Venezuela

In value terms, medicaments containing corticosteroid hormones production fell to $X in 2021 estimated in export price. Over the period under review, production, however, saw strong growth. The growth pace was the most rapid in 2015 when the production volume increased by 71%. Over the period under review, production attained the peak level at $X in 2020, and then declined in the following year.

Exports of Medicaments Containing Corticosteroid Hormones

Exports from Venezuela

In 2021, approx. X tons of medicaments containing corticosteroid hormones were exported from Venezuela; stabilizing at the previous year. Overall, exports faced a deep slump. The pace of growth was the most pronounced in 2015 with an increase of 7.9% against the previous year. 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 corticosteroid hormones exports declined modestly to $X in 2021. Over the period under review, exports saw a deep contraction. The growth pace was the most rapid in 2015 when exports increased by 16%. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Ecuador (X tons), Panama (X tons) and Colombia (X tons) were the main destinations of medicaments containing corticosteroid hormones exports from Venezuela, together accounting for 97% of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Ecuador (with a CAGR of +4.0%), while the other leaders experienced a decline.

In value terms, Colombia ($X), Panama ($X) and Ecuador ($X) were the largest markets for medicaments containing corticosteroid hormones exported from Venezuela worldwide, together comprising 90% of total exports.

Ecuador, with a CAGR of -3.0%, saw the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced a decline.

Export Prices by Country

In 2021, the average medicaments containing corticosteroid hormones export price amounted to $X per ton, leveling off at the previous year. In general, the export price recorded a relatively flat trend pattern. The growth pace was the most rapid in 2013 when the average export price increased by 14%. As a result, the export price reached the peak level of $X per ton. From 2014 to 2021, the average export prices remained at a lower figure.

Prices varied noticeably country of destination: the country with the highest price was Peru ($X per ton), while the average price for exports to Ecuador ($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 Peru (+16.6%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Medicaments Containing Corticosteroid Hormones

Imports into Venezuela

In 2021, purchases abroad of medicaments containing corticosteroid hormones increased by 168% to X tons, rising for the third year in a row after three years of decline. Over the period under review, imports, however, showed a abrupt shrinkage. Over the period under review, imports attained the maximum at X tons in 2015; however, from 2016 to 2021, imports remained at a lower figure.

In value terms, medicaments containing corticosteroid hormones imports soared to $X in 2021. Overall, imports, however, recorded a precipitous descent. The most prominent rate of growth was recorded in 2020 when imports increased by 82%. Over the period under review, imports hit record highs at $X in 2013; however, from 2014 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Cuba (X tons) constituted the largest supplier of medicaments containing corticosteroid hormones to Venezuela, accounting for a 56% share of total imports. Moreover, medicaments containing corticosteroid hormones imports from Cuba exceeded the figures recorded by the second-largest supplier, El Salvador (X tons), sevenfold. Belgium (X tons) ranked third in terms of total imports with a 6.9% share.

From 2012 to 2021, the average annual growth rate of volume from Cuba was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: El Salvador (-17.6% per year) and Belgium (-15.2% per year).

In value terms, the UK ($X), Belgium ($X) and El Salvador ($X) constituted the largest medicaments containing corticosteroid hormones suppliers to Venezuela, together accounting for 59% of total imports. Austria, Cuba, the United States, Denmark, Colombia, India, Brazil, Mexico, Argentina and China lagged somewhat behind, together accounting for a further 31%.

Denmark, with a CAGR of +1.5%, 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 a decline.

Import Prices by Country

The average medicaments containing corticosteroid hormones import price stood at $X per ton in 2021, declining by -44.7% against the previous year. In general, the import price saw a abrupt shrinkage. The most prominent rate of growth was recorded in 2016 when the average import price increased by 91% against the previous year. The import price peaked at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by El Salvador (+13.3%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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