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

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

The West African penicillins or streptomycins medicaments market skyrocketed to $X in 2022, jumping by 19% against the previous year. Overall, consumption enjoyed a buoyant increase. As a result, consumption attained the peak level of $X. From 2021 to 2022, the growth of the market remained at a somewhat lower figure.

Production of Medicaments Of Penicillins, Streptomycins Or Derivatives Thereof in Western Africa

In value terms, penicillins or streptomycins medicaments production contracted to $X in 2022 estimated in export price. Overall, production recorded a abrupt curtailment. The pace of growth appeared the most rapid in 2013 when the production volume increased by 32%. The level of production peaked at $X in 2016; however, from 2017 to 2022, production stood at a somewhat lower figure.

Exports of Medicaments Of Penicillins, Streptomycins Or Derivatives Thereof

Exports in Western Africa

In 2022, overseas shipments of medicaments of penicillins, streptomycins or derivatives thereof were finally on the rise to reach X tons after two years of decline. Over the period under review, exports, however, recorded a pronounced slump. The most prominent rate of growth was recorded in 2019 with an increase of 267%. As a result, the exports attained the peak of X tons. From 2020 to 2022, the growth of the exports failed to regain momentum.

In value terms, penicillins or streptomycins medicaments exports soared to $X in 2022. Overall, exports, however, saw a slight downturn. The most prominent rate of growth was recorded in 2019 with an increase of 248% against the previous year. As a result, the exports attained the peak of $X. From 2020 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Senegal was the key exporter of medicaments of penicillins, streptomycins or derivatives thereof in Western Africa, with the volume of exports amounting to X tons, which was approx. 42% of total exports in 2022. Ghana (X tons) held the second position in the ranking, distantly followed by Togo (X tons), Cote d'Ivoire (X tons) and Burkina Faso (X tons). All these countries together took approx. 54% share of total exports. Benin (X kg) held a relatively small share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Burkina Faso (with a CAGR of +27.8%), while the other leaders experienced more modest paces of growth.

In value terms, Ghana ($X), Senegal ($X) and Togo ($X) constituted the countries with the highest levels of exports in 2022, together comprising 78% of total exports. Burkina Faso, Cote d'Ivoire and Benin lagged somewhat behind, together accounting for a further 19%.

Burkina Faso, with a CAGR of +23.6%, recorded the highest growth rate of the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in Western Africa stood at $X per ton in 2022, falling by -7.6% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.3%. The pace of growth was the most pronounced in 2014 an increase of 43% against the previous year. The level of export peaked at $X per ton in 2021, and then shrank in the following year.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Ghana ($X per ton), while Senegal ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Benin (+11.8%), while the other leaders experienced more modest paces of growth.

Imports of Medicaments Of Penicillins, Streptomycins Or Derivatives Thereof

Imports in Western Africa

Penicillins or streptomycins medicaments imports surged to X tons in 2022, picking up by 31% on the previous year. Overall, imports showed resilient growth. The pace of growth appeared the most rapid in 2020 with an increase of 58%. As a result, imports attained the peak of X tons. From 2021 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, penicillins or streptomycins medicaments imports expanded sharply to $X in 2022. In general, imports continue to indicate a buoyant increase. The pace of growth appeared the most rapid in 2020 when imports increased by 52% against the previous year. As a result, imports attained the peak of $X. From 2021 to 2022, the growth of imports remained at a lower figure.

Imports by Country

Nigeria prevails in imports structure, accounting for X tons, which was near 58% of total imports in 2022. It was distantly followed by Benin (X tons), Ghana (X tons), Togo (X tons) and Guinea (X tons), together making up a 26% share of total imports. The following importers - Cote d'Ivoire (X tons) and Mali (X tons) - each reached a 7.6% share of total imports.

Imports into Nigeria increased at an average annual rate of +16.3% from 2012 to 2022. At the same time, Togo (+37.4%), Mali (+20.4%), Benin (+7.2%), Ghana (+5.9%), Guinea (+5.1%) and Cote d'Ivoire (+4.8%) displayed positive paces of growth. Moreover, Togo emerged as the fastest-growing importer imported in Western Africa, with a CAGR of +37.4% from 2012-2022. From 2012 to 2022, the share of Nigeria, Togo and Mali increased by +15, +5.1 and +1.8 percentage points, respectively.

In value terms, Nigeria ($X) constitutes the largest market for imported medicaments of penicillins, streptomycins or derivatives thereof in Western Africa, comprising 40% of total imports. The second position in the ranking was taken by Benin ($X), with a 13% share of total imports. It was followed by Ghana, with an 11% share.

In Nigeria, penicillins or streptomycins medicaments imports expanded at an average annual rate of +11.2% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Benin (+5.9% per year) and Ghana (+7.4% per year).

Import Prices by Country

The import price in Western Africa stood at $X per ton in 2022, dropping by -17.3% against the previous year. Over the period under review, the import price recorded a noticeable contraction. The pace of growth was the most pronounced in 2021 an increase of 42%. The level of import peaked at $X per ton in 2015; however, from 2016 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Cote d'Ivoire ($X per ton), while Togo ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Guinea (+5.2%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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