Vietnam: Market for Medicaments Of Penicillins, Streptomycins Or Derivatives Thereof 2024

Market Size for Medicaments Of Penicillins, Streptomycins Or Derivatives Thereof in Vietnam

The Vietnamese penicillins or streptomycins medicaments market was finally on the rise to reach $X in 2022, after two years of decline. Overall, the total consumption indicated perceptible growth from 2012 to 2022: its value increased at an average annual rate of +4.7% 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 -8.7% against 2019 indices. As a result, consumption attained the peak level of $X. From 2020 to 2022, the growth of the market remained at a lower figure.

Exports of Medicaments Of Penicillins, Streptomycins Or Derivatives Thereof

Exports from Vietnam

In 2022, after three years of growth, there was significant decline in shipments abroad of medicaments of penicillins, streptomycins or derivatives thereof, when their volume decreased by -7.2% to X tons. In general, exports, however, continue to indicate a significant expansion. The pace of growth was the most pronounced in 2017 when exports increased by 1,152%. The exports peaked at X tons in 2021, and then declined in the following year.

In value terms, penicillins or streptomycins medicaments exports rose modestly to $X in 2022. Over the period under review, exports, however, saw significant growth. The most prominent rate of growth was recorded in 2017 with an increase of 1,847% against the previous year. Over the period under review, the exports hit record highs at $X in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

Exports by Country

Cambodia (X tons) was the main destination for penicillins or streptomycins medicaments exports from Vietnam, with a 30% share of total exports. Moreover, penicillins or streptomycins medicaments exports to Cambodia exceeded the volume sent to the second major destination, Mongolia (X tons), threefold. The third position in this ranking was held by Malaysia (X tons), with a 9.8% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Cambodia stood at +41.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Mongolia (+55.9% per year) and Malaysia (+36.2% per year).

In value terms, Cambodia ($X) remains the key foreign market for medicaments of penicillins, streptomycins or derivatives thereof exports from Vietnam, comprising 29% of total exports. The second position in the ranking was held by Singapore ($X), with an 11% share of total exports. It was followed by Malaysia, with a 9.4% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Cambodia totaled +42.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Singapore (+26.2% per year) and Malaysia (+37.6% per year).

Export Prices by Country

In 2022, the average penicillins or streptomycins medicaments export price amounted to $X per ton, increasing by 11% against the previous year. In general, the export price posted a moderate expansion. The most prominent rate of growth was recorded in 2017 when the average export price increased by 56% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2020; however, from 2021 to 2022, the export prices stood at a somewhat 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 Singapore ($X per ton), while the average price for exports to Mongolia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Latvia (+15.9%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Medicaments Of Penicillins, Streptomycins Or Derivatives Thereof

Imports into Vietnam

In 2022, after two years of decline, there was growth in overseas purchases of medicaments of penicillins, streptomycins or derivatives thereof, when their volume increased by 4.7% to X tons. In general, total imports indicated a measured expansion from 2012 to 2022: its volume increased at an average annual rate of +4.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -13.5% against 2019 indices. The most prominent rate of growth was recorded in 2019 with an increase of 88% against the previous year. As a result, imports reached the peak of X tons. From 2020 to 2022, the growth of imports remained at a lower figure.

In value terms, penicillins or streptomycins medicaments imports rose markedly to $X in 2022. Overall, total imports indicated a buoyant expansion from 2012 to 2022: its value increased at an average annual rate of +5.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -6.5% against 2019 indices. The growth pace was the most rapid in 2019 when imports increased by 93%. As a result, imports reached the peak of $X. From 2020 to 2022, the growth of imports failed to regain momentum.

Imports by Country

In 2022, the UK (X tons) constituted the largest penicillins or streptomycins medicaments supplier to Vietnam, with a 30% share of total imports. Moreover, penicillins or streptomycins medicaments imports from the UK exceeded the figures recorded by the second-largest supplier, France (X tons), twofold. The third position in this ranking was taken by Cyprus (X tons), with an 11% share.

From 2012 to 2022, the average annual growth rate of volume from the UK stood at +8.1%. The remaining supplying countries recorded the following average annual rates of imports growth: France (-2.9% per year) and Cyprus (+19.3% per year).

In value terms, the UK ($X) constituted the largest supplier of medicaments of penicillins, streptomycins or derivatives thereof to Vietnam, comprising 34% of total imports. The second position in the ranking was taken by France ($X), with a 15% share of total imports. It was followed by Cyprus, with a 12% share.

From 2012 to 2022, the average annual growth rate of value from the UK totaled +11.4%. The remaining supplying countries recorded the following average annual rates of imports growth: France (+0.1% per year) and Cyprus (+22.5% per year).

Import Prices by Country

The average penicillins or streptomycins medicaments import price stood at $X per ton in 2022, remaining constant against the previous year. Overall, the import price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when the average import price increased by 8.2% against the previous year. The import price peaked in 2022 and is likely to see gradual growth in the near future.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Italy ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (+7.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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