Western Africa: Market for Medicaments Containing Insulin But Not Antibiotics In Measured Doses 2024

Market Size for Medicaments Containing Insulin But Not Antibiotics In Measured Doses in Western Africa

The West African prophylactic medicaments containing insulin market rose sharply to $X in 2022, with an increase of 6.4% against the previous year. In general, consumption showed a strong expansion. The level of consumption peaked at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Production of Medicaments Containing Insulin But Not Antibiotics In Measured Doses in Western Africa

In value terms, prophylactic medicaments containing insulin production expanded significantly to $X in 2022 estimated in export price. Overall, production recorded a buoyant expansion. The most prominent rate of growth was recorded in 2019 when the production volume increased by 53% against the previous year. The level of production peaked at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Exports of Medicaments Containing Insulin But Not Antibiotics In Measured Doses

Exports in Western Africa

After three years of growth, shipments abroad of medicaments containing insulin but not antibiotics in measured doses decreased by -99.8% to X kg in 2021. Over the period under review, exports saw a precipitous slump. The most prominent rate of growth was recorded in 2018 with an increase of 5,300%. Over the period under review, the exports attained the maximum at X kg in 2020, and then contracted sharply in the following year.

In value terms, prophylactic medicaments containing insulin exports reduced markedly to $X in 2021. Overall, exports continue to indicate a significant decline. The most prominent rate of growth was recorded in 2018 with an increase of 9,388%. The level of export peaked at $X in 2013; however, from 2014 to 2021, the exports failed to regain momentum.

Exports by Country

The shipments of the one major exporters of medicaments containing insulin but not antibiotics in measured doses, namely Nigeria, represented more than two-thirds of total export.

Nigeria was also the fastest-growing in terms of the medicaments containing insulin but not antibiotics in measured doses exports, with a CAGR of -50.0% from 2012 to 2021. From 2012 to 2021, the share of Nigeria increased by +99 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X) also remains the largest prophylactic medicaments containing insulin supplier in Western Africa.

From 2012 to 2021, the average annual growth rate of value in Nigeria stood at +2.6%.

Export Prices by Country

The export price in Western Africa stood at $X per ton in 2021, with an increase of 1,447% against the previous year. Overall, the export price, however, continues to indicate a abrupt setback. The level of export peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

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

From 2012 to 2021, the rate of growth in terms of prices for Nigeria amounted to +105.1% per year.

Imports of Medicaments Containing Insulin But Not Antibiotics In Measured Doses

Imports in Western Africa

In 2022, purchases abroad of medicaments containing insulin but not antibiotics in measured doses decreased by -10.9% to X tons, falling for the second year in a row after two years of growth. Overall, imports, however, continue to indicate a buoyant expansion. The most prominent rate of growth was recorded in 2020 with an increase of 74%. As a result, imports attained the peak of X tons. From 2021 to 2022, the growth of imports remained at a lower figure.

In value terms, prophylactic medicaments containing insulin imports dropped to $X in 2022. In general, imports, however, showed a moderate expansion. The growth pace was the most rapid in 2020 with an increase of 77% against the previous year. As a result, imports reached the peak of $X. From 2021 to 2022, the growth of imports remained at a lower figure.

Imports by Country

In 2022, Cote d'Ivoire (X tons) and Mali (X tons) were the largest importers of medicaments containing insulin but not antibiotics in measured doses in Western Africa, together accounting for near 59% of total imports. Nigeria (X tons) ranks next in terms of the total imports with a 10% share, followed by Ghana (7.4%), Mauritania (5.8%) and Burkina Faso (4.8%). Togo (X tons) held a relatively small share of total imports.

From 2012 to 2022, the biggest increases were recorded for Cote d'Ivoire (with a CAGR of +28.8%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Cote d'Ivoire ($X) constitutes the largest market for imported medicaments containing insulin but not antibiotics in measured doses in Western Africa, comprising 38% of total imports. The second position in the ranking was held by Mali ($X), with a 17% share of total imports. It was followed by Nigeria, with a 16% share.

From 2012 to 2022, the average annual growth rate of value in Cote d'Ivoire stood at +31.5%. In the other countries, the average annual rates were as follows: Mali (+29.0% per year) and Nigeria (-6.3% per year).

Import Prices by Country

The import price in Western Africa stood at $X per ton in 2022, picking up by 3.9% against the previous year. Over the period under review, the import price, however, showed a mild setback. The growth pace was the most rapid in 2016 when the import price increased by 35% against the previous year. Over the period under review, import prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Nigeria ($X per ton), while Burkina Faso ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Nigeria (+4.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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