Venezuela: Syringe Market 2024

Syringe Market Size in Venezuela

The Venezuelan syringe market dropped modestly to $X in 2022, remaining constant against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption continues to indicate a abrupt decrease. Syringe consumption peaked at $X in 2015; however, from 2016 to 2022, consumption failed to regain momentum.

Syringe Exports

Exports from Venezuela

In 2022, overseas shipments of syringes, with or without needles increased by 1,318% to X units, rising for the second year in a row after five years of decline. Over the period under review, exports, however, recorded a mild decline. The most prominent rate of growth was recorded in 2015 with an increase of 187,482%. As a result, the exports attained the peak of X units. From 2016 to 2022, the growth of the exports failed to regain momentum.

In value terms, syringe exports surged to $X in 2022. Overall, exports, however, saw a deep setback. The growth pace was the most rapid in 2015 when exports increased by 14,241% against the previous year. As a result, the exports attained the peak of $X. From 2016 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Guatemala (X units), Costa Rica (X units) and Panama (X units) were the main destinations of syringe exports from Venezuela, with a combined 99% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Costa Rica (with a CAGR of +23.2%), while shipments for the other leaders experienced mixed trend patterns.

In value terms, Guatemala ($X) emerged as the key foreign market for syringes, with or without needles exports from Venezuela, comprising 69% of total exports. The second position in the ranking was held by Guyana ($X), with an 11% share of total exports. It was followed by Panama, with a 6.8% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Guatemala was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Guyana (+12.5% per year) and Panama (-21.4% per year).

Export Prices by Country

The average syringe export price stood at $X per unit in 2022, reducing by -26.7% against the previous year. Overall, the export price recorded a deep setback. The most prominent rate of growth was recorded in 2016 when the average export price increased by 1,086% against the previous year. Over the period under review, the average export prices attained the peak figure at $X per unit in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Guyana ($X per unit), while the average price for exports to Costa Rica (less than $X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Guyana (+64.7%), while the prices for the other major destinations experienced more modest paces of growth.

Syringe Imports

Imports into Venezuela

In 2022, imports of syringes, with or without needles into Venezuela dropped slightly to X units, stabilizing at 2021 figures. In general, imports saw a abrupt shrinkage. The pace of growth was the most pronounced in 2017 with an increase of 282%. Imports peaked at X units in 2015; however, from 2016 to 2022, imports failed to regain momentum.

In value terms, syringe imports totaled $X in 2022. Overall, imports continue to indicate a abrupt shrinkage. The pace of growth appeared the most rapid in 2017 when imports increased by 243%. Over the period under review, imports attained the maximum at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, China (X units) was the main syringe supplier to Venezuela, with a 93% share of total imports. It was followed by the United Arab Emirates (X units), with a 1.5% share of total imports.

From 2012 to 2022, the average annual growth rate of volume from China amounted to -6.3%. The remaining supplying countries recorded the following average annual rates of imports growth: the United Arab Emirates (-8.4% per year) and South Korea (-34.9% per year).

In value terms, China ($X) constituted the largest supplier of syringes, with or without needles to Venezuela, comprising 80% of total imports. The second position in the ranking was taken by the United Arab Emirates ($X), with a 2.9% share of total imports.

From 2012 to 2022, the average annual growth rate of value from China stood at -3.2%. The remaining supplying countries recorded the following average annual rates of imports growth: the United Arab Emirates (+2.2% per year) and South Korea (-31.5% per year).

Import Prices by Country

In 2022, the average syringe import price amounted to $X per thousand units, remaining relatively unchanged against the previous year. Overall, import price indicated a notable increase from 2012 to 2022: its price increased at an average annual rate of +2.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, syringe import price decreased by -1.1% against 2020 indices. The pace of growth was the most pronounced in 2018 an increase of 42%. Over the period under review, average import prices attained the peak figure at $X per thousand units in 2020; however, from 2021 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United Arab Emirates ($X per thousand units), while the price for China ($X per thousand units) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+11.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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