Western Africa: Medicaments Containing Penicillin Market 2024

Medicaments Containing Penicillin Market Size in Western Africa

In 2021, the West African medicaments containing penicillin market was finally on the rise to reach $X after two years of decline. Over the period under review, consumption continues to indicate prominent growth. As a result, consumption attained the peak level of $X. From 2019 to 2021, the growth of the market remained at a somewhat lower figure.

Medicaments Containing Penicillin Production in Western Africa

In value terms, medicaments containing penicillin production expanded notably to $X in 2021 estimated in export price. Over the period under review, production recorded a prominent increase. The pace of growth was the most pronounced in 2018 when the production volume increased by 114%. As a result, production reached the peak level of $X. From 2019 to 2021, production growth remained at a somewhat lower figure.

Medicaments Containing Penicillin Exports

Exports in Western Africa

In 2021, shipments abroad of medicaments containing penicillins or derivatives thereof increased by 2.4% to X tons for the first time since 2017, thus ending a three-year declining trend. In general, exports, however, showed a pronounced setback. The most prominent rate of growth was recorded in 2017 when exports increased by 206%. Over the period under review, the exports hit record highs at X tons in 2013; however, from 2014 to 2021, the exports remained at a lower figure.

In value terms, medicaments containing penicillin exports rose to $X in 2021. Overall, exports, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2013 when exports increased by 147%. As a result, the exports reached the peak of $X. From 2014 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

Niger (X tons) and Senegal (X tons) prevails in exports structure, together creating 97% of total exports. Nigeria (X kg) followed a long way behind the leaders.

From 2012 to 2021, the biggest increases were recorded for Senegal (with a CAGR of +24.0%), while shipments for the other leaders experienced mixed trends in the exports figures.

In value terms, the largest medicaments containing penicillin supplying countries in Western Africa were Niger ($X), Senegal ($X) and Nigeria ($X), together comprising 100% of total exports.

Senegal, with a CAGR of +51.9%, saw the highest growth rate of the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

The export price in Western Africa stood at $X per ton in 2021, picking up by 2.5% against the previous year. Export price indicated a measured increase from 2012 to 2021: its price increased at an average annual rate of +4.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, medicaments containing penicillin export price increased by +120.1% against 2017 indices. The pace of growth appeared the most rapid in 2018 an increase of 91%. The level of export peaked in 2021 and is likely to see steady growth in the near future.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Nigeria ($X per ton), while Senegal ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Senegal (+22.5%), while the other leaders experienced more modest paces of growth.

Medicaments Containing Penicillin Imports

Imports in Western Africa

In 2021, purchases abroad of medicaments containing penicillins or derivatives thereof increased by 16% to X tons, rising for the second year in a row after two years of decline. In general, imports saw significant growth. The most prominent rate of growth was recorded in 2020 when imports increased by 132% against the previous year. The volume of import peaked in 2021 and is likely to continue growth in the immediate term.

In value terms, medicaments containing penicillin imports soared to $X in 2021. Overall, imports recorded a remarkable increase. The most prominent rate of growth was recorded in 2020 with an increase of 142% against the previous year. Over the period under review, imports hit record highs in 2021 and are expected to retain growth in the immediate term.

Imports by Country

Nigeria represented the main importer of medicaments containing penicillins or derivatives thereof in Western Africa, with the volume of imports resulting at X tons, which was near 74% of total imports in 2021. Gambia (X tons) took a 13% share (based on physical terms) of total imports, which put it in second place, followed by Liberia (10%).

Nigeria was also the fastest-growing in terms of the medicaments containing penicillins or derivatives thereof imports, with a CAGR of +33.1% from 2012 to 2021. At the same time, Gambia (+21.3%) and Liberia (+8.0%) displayed positive paces of growth. Nigeria (+40 p.p.) significantly strengthened its position in terms of the total imports, while Liberia saw its share reduced by -20.3% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X) constitutes the largest market for imported medicaments containing penicillins or derivatives thereof in Western Africa, comprising 54% of total imports. The second position in the ranking was taken by Gambia ($X), with a 24% share of total imports.

From 2012 to 2021, the average annual growth rate of value in Nigeria amounted to +56.8%. The remaining importing countries recorded the following average annual rates of imports growth: Gambia (+10.0% per year) and Liberia (+2.3% per year).

Import Prices by Country

In 2021, the import price in Western Africa amounted to $X per ton, growing by 25% against the previous year. Over the period under review, the import price, however, recorded a pronounced curtailment. The growth pace was the most rapid in 2019 an increase of 33%. Over the period under review, import prices hit record highs at $X per ton in 2013; however, from 2014 to 2021, import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Nigeria (+17.8%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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