Colombia: 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 Colombia

The Colombian prophylactic medicaments containing insulin market fell to $X in 2023, remaining constant against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption continues to indicate a strong expansion. Over the period under review, the market reached the maximum level at $X in 2018; however, from 2019 to 2023, consumption failed to regain momentum.

Exports of Medicaments Containing Insulin But Not Antibiotics In Measured Doses

Exports from Colombia

In 2023, shipments abroad of medicaments containing insulin but not antibiotics in measured doses increased by X% to X kg for the first time since 2019, thus ending a three-year declining trend. In general, exports, however, saw a abrupt decline. The growth pace was the most rapid in 2016 with an increase of X% against the previous year. The exports peaked at X kg in 2019; however, from 2020 to 2023, the exports stood at a somewhat lower figure.

In value terms, prophylactic medicaments containing insulin exports contracted to $X in 2023. Overall, exports, however, continue to indicate a abrupt contraction. The growth pace was the most rapid in 2022 when exports increased by X%. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2023, the exports remained at a lower figure.

Exports by Country

Panama (X kg) was the main destination for prophylactic medicaments containing insulin exports from Colombia, accounting for a X% share of total exports. Moreover, prophylactic medicaments containing insulin exports to Panama exceeded the volume sent to the second major destination, Guatemala (X kg), tenfold.

From 2012 to 2023, the average annual growth rate of volume to Panama amounted to X%.

In value terms, Panama ($X) and Guatemala ($X) appeared to be the largest markets for prophylactic medicaments containing insulin exported from Colombia worldwide.

Among the main countries of destination, Panama, with a CAGR of X%, saw the highest growth rate of the value of exports, over the period under review.

Export Prices by Country

The average prophylactic medicaments containing insulin export price stood at $X per ton in 2023, waning by X% against the previous year. Overall, the export price saw a abrupt decrease. The most prominent rate of growth was recorded in 2022 when the average export price increased by X%. The export price peaked at $X per ton in 2012; however, from 2013 to 2023, the export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In 2023, amid the top suppliers, the country with the highest price was Guatemala ($X per ton), while the average price for exports to Panama stood at $X per ton.

From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to Peru (X%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Medicaments Containing Insulin But Not Antibiotics In Measured Doses

Imports into Colombia

In 2023, purchases abroad of medicaments containing insulin but not antibiotics in measured doses increased by X% to X tons for the first time since 2020, thus ending a two-year declining trend. Overall, imports enjoyed a buoyant increase. The most prominent rate of growth was recorded in 2014 with an increase of X% against the previous year. Imports peaked at X tons in 2018; however, from 2019 to 2023, imports remained at a lower figure.

In value terms, prophylactic medicaments containing insulin imports dropped modestly to $X in 2023. The total import value increased at an average annual rate of X% over the period from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2013 when imports increased by X%. Imports peaked at $X in 2016; however, from 2017 to 2023, imports remained at a lower figure.

Imports by Country

In 2023, Germany (X tons) constituted the largest supplier of prophylactic medicaments containing insulin to Colombia, with a X% share of total imports. Moreover, prophylactic medicaments containing insulin imports from Germany exceeded the figures recorded by the second-largest supplier, Denmark (X tons), more than tenfold. France (X tons) ranked third in terms of total imports with a X% share.

From 2012 to 2023, the average annual growth rate of volume from Germany amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Denmark (X% per year) and France (X% per year).

In value terms, Germany ($X) constituted the largest supplier of medicaments containing insulin but not antibiotics in measured doses to Colombia, comprising X% of total imports. The second position in the ranking was taken by Denmark ($X), with an X% share of total imports. It was followed by Brazil, with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of value from Germany amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Denmark (X% per year) and Brazil (X% per year).

Import Prices by Country

In 2023, the average prophylactic medicaments containing insulin import price amounted to $X per ton, falling by X% against the previous year. Over the period under review, the import price continues to indicate a deep slump. The growth pace was the most rapid in 2021 when the average import price increased by X%. The import price peaked at $X per ton in 2013; however, from 2014 to 2023, import prices failed to regain momentum.

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

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Denmark (X%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform