Vietnam: Market for Medicaments Containing Corticosteroid Hormones 2024

Market Size for Medicaments Containing Corticosteroid Hormones in Vietnam

After four years of growth, the Vietnamese medicaments containing corticosteroid hormones market decreased by -2.3% to $X in 2021. Over the period under review, consumption, however, enjoyed a resilient increase. Over the period under review, the market attained the peak level at $X in 2020, and then dropped in the following year.

Exports of Medicaments Containing Corticosteroid Hormones

Exports from Vietnam

In 2021, shipments abroad of medicaments containing corticosteroid hormones was finally on the rise to reach X tons after two years of decline. Over the period under review, exports continue to indicate a relatively flat trend pattern. The exports peaked at X tons in 2014; however, from 2015 to 2021, the exports failed to regain momentum.

In value terms, medicaments containing corticosteroid hormones exports rose notably to $X in 2021. Overall, exports, however, continue to indicate a mild decrease. The most prominent rate of growth was recorded in 2014 with an increase of 61%. The exports peaked at $X in 2017; however, from 2018 to 2021, the exports failed to regain momentum.

Exports by Country

Kyrgyzstan (X kg), Oman (X kg) and Russia (X kg) were the main destinations of medicaments containing corticosteroid hormones exports from Vietnam, together comprising 56% of total exports. Myanmar, Cyprus, Costa Rica, Belarus, Cambodia, Malaysia, Latvia, Nigeria, Taiwan (Chinese) and Macao SAR lagged somewhat behind, together accounting for a further 33%.

From 2012 to 2021, the biggest increases were recorded for Costa Rica (with a CAGR of +534.4%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Taiwan (Chinese) ($X), Latvia ($X) and Myanmar ($X) were the largest markets for medicaments containing corticosteroid hormones exported from Vietnam worldwide, together accounting for 48% of total exports. Cyprus, Cambodia, Malaysia, Nigeria, Kyrgyzstan, Russia, Oman, Costa Rica, Belarus and Macao SAR lagged somewhat behind, together comprising a further 32%.

In terms of the main countries of destination, Costa Rica, with a CAGR of +245.2%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average medicaments containing corticosteroid hormones export price amounted to $X per ton, declining by -41.8% against the previous year. In general, the export price saw a perceptible curtailment. The most prominent rate of growth was recorded in 2020 an increase of 49%. The export price peaked at $X per ton in 2017; however, from 2018 to 2021, the export prices remained at a lower figure.

Prices varied noticeably country of destination: the country with the highest price was Taiwan (Chinese) ($X per ton), while the average price for exports to Oman ($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 Cyprus (+26.2%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Medicaments Containing Corticosteroid Hormones

Imports into Vietnam

In 2021, after two years of growth, there was significant decline in supplies from abroad of medicaments containing corticosteroid hormones, when their volume decreased by -10.4% to X tons. Overall, imports, however, posted a perceptible increase. The most prominent rate of growth was recorded in 2017 with an increase of 83%. Imports peaked at X tons in 2020, and then reduced in the following year.

In value terms, medicaments containing corticosteroid hormones imports amounted to $X in 2021. In general, imports, however, recorded resilient growth. The most prominent rate of growth was recorded in 2019 with an increase of 50%. Over the period under review, imports reached the maximum in 2021 and are expected to retain growth in the near future.

Imports by Country

Pakistan (X tons), Indonesia (X tons) and Italy (X tons) were the main suppliers of medicaments containing corticosteroid hormones imports to Vietnam, with a combined 26% share of total imports. These countries were followed by South Korea, Belgium, Germany, France, Sweden, the UK, Russia, Hungary, India and Poland, which together accounted for a further 30%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Belgium (with a CAGR of +23.2%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest medicaments containing corticosteroid hormones suppliers to Vietnam were Germany ($X), Italy ($X) and Belgium ($X), together comprising 23% of total imports. These countries were followed by South Korea, the UK, France, Sweden, Hungary, India, Pakistan, Indonesia, Poland and Russia, which together accounted for a further 22%.

Sweden, with a CAGR of +24.3%, saw the highest growth rate of 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

In 2021, the average medicaments containing corticosteroid hormones import price amounted to $X per ton, rising by 12% against the previous year. Over the last nine years, it increased at an average annual rate of +4.9%. The growth pace was the most rapid in 2013 when the average import price increased by 36%. Over the period under review, average import prices attained the maximum at $X per ton in 2016; however, from 2017 to 2021, import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (+13.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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