Dominican Republic: Medical Gel Preparations Market 2024

Medical Gel Preparations Market Size in the Dominican Republic

The Dominican medical gel preparations market dropped rapidly to $X in 2023, which is down by X% 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). Over the period under review, consumption, however, posted a buoyant increase. As a result, consumption attained the peak level of $X, and then shrank significantly in the following year.

Medical Gel Preparations Exports

Exports from the Dominican Republic

In 2023, shipments abroad of gel preparations for human or veterinary medicine decreased by X% to X kg, falling for the second consecutive year after four years of growth. In general, exports recorded a dramatic decline. The pace of growth was the most pronounced in 2021 with an increase of X% against the previous year. As a result, the exports reached the peak of X kg. From 2022 to 2023, the growth of the exports remained at a somewhat lower figure.

In value terms, medical gel preparations exports shrank sharply to $X in 2023. Overall, exports showed a abrupt shrinkage. The pace of growth was the most pronounced in 2016 when exports increased by X%. Over the period under review, the exports reached the peak figure at $X in 2021; however, from 2022 to 2023, the exports remained at a lower figure.

Exports by Country

The United States (X kg) was the main destination for medical gel preparations exports from the Dominican Republic, with a X% share of total exports. Moreover, medical gel preparations exports to the United States exceeded the volume sent to the second major destination, Mexico (X kg), tenfold. The third position in this ranking was taken by New Zealand (X kg), with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of volume to the United States stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Mexico (X% per year) and New Zealand (X% per year).

In value terms, the United States ($X) emerged as the key foreign market for gel preparations for human or veterinary medicine exports from the Dominican Republic, comprising X% of total exports. The second position in the ranking was taken by Mexico ($X), with a X% share of total exports. It was followed by New Zealand, with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of value to the United States totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Mexico (X% per year) and New Zealand (X% per year).

Export Prices by Country

In 2023, the average medical gel preparations export price amounted to $X per ton, dropping by X% against the previous year. In general, the export price, however, saw buoyant growth. The pace of growth appeared the most rapid in 2016 when the average export price increased by X%. The export price peaked at $X per ton in 2020; however, from 2021 to 2023, the export prices remained at a lower figure.

There were significant differences in the average prices for the major foreign markets. In 2023, amid the top suppliers, the country with the highest price was Mexico ($X per ton), while the average price for exports to Kuwait ($X per ton) was amongst the lowest.

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

Medical Gel Preparations Imports

Imports into the Dominican Republic

In 2023, the amount of gel preparations for human or veterinary medicine imported into the Dominican Republic contracted notably to X tons, declining by X% against the previous year's figure. Over the period under review, imports, however, recorded a strong increase. The pace of growth was the most pronounced in 2022 with an increase of X% against the previous year. As a result, imports attained the peak of X tons, and then contracted dramatically in the following year.

In value terms, medical gel preparations imports dropped markedly to $X in 2023. Overall, imports, however, posted a buoyant expansion. The growth pace was the most rapid in 2017 when imports increased by X%. Imports peaked at $X in 2022, and then fell rapidly in the following year.

Imports by Country

The United States (X tons), Turkey (X tons) and China (X tons) were the main suppliers of medical gel preparations imports to the Dominican Republic, together accounting for X% of total imports. India, Panama, Mexico, Spain, Thailand, South Korea and Malaysia lagged somewhat behind, together comprising a further X%.

From 2012 to 2023, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by India (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) constituted the largest supplier of gel preparations for human or veterinary medicine to the Dominican Republic, comprising X% of total imports. The second position in the ranking was taken by Panama ($X), with a X% share of total imports. It was followed by India, with a X% share.

From 2012 to 2023, the average annual growth rate of value from the United States amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Panama (X% per year) and India (X% per year).

Import Prices by Country

In 2023, the average medical gel preparations import price amounted to $X per ton, jumping by X% against the previous year. Over the last eleven years, it increased at an average annual rate of X%. The pace of growth was the most pronounced in 2017 when the average import price increased by X%. The import price peaked at $X per ton in 2021; however, from 2022 to 2023, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2023, amid the top importers, the country with the highest price was the United States ($X per ton), while the price for Turkey ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform