Pharmaceutical Goods Price in the United States - 2023
Contents:
- Pharmaceutical Goods Price in the United States (CIF) - 2022
- Pharmaceutical Goods Price in the United States (FOB) - 2022
- Pharmaceutical Goods Imports in the United States
- Pharmaceutical Goods Exports in the United States
Pharmaceutical Goods Price in the United States (CIF) - 2022
The average pharmaceutical goods import price stood at $88,382 per ton in 2022, falling by -16.3% against the previous year. Over the period under review, the import price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 an increase of 39% against the previous year. Over the period under review, average import prices attained the maximum at $143,653 per ton in 2019; however, from 2020 to 2022, import prices remained at a lower figure.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Ireland ($264,181 per ton), while the price for China ($14,987 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Ireland (+6.9%), while the prices for the other major suppliers experienced more modest paces of growth.
Pharmaceutical Goods Price in the United States (FOB) - 2022
The average pharmaceutical goods export price stood at $131,971 per ton in 2022, shrinking by -4.4% against the previous year. Over the period under review, export price indicated a prominent increase from 2012 to 2022: its price increased at an average annual rate of +5.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2015 an increase of 18%. Over the period under review, the average export prices reached the maximum at $138,077 per ton in 2021, and then dropped modestly in the following year.
There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Singapore ($483,502 per ton), while the average price for exports to Ireland ($21,528 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Singapore (+13.9%), while the prices for the other major destinations experienced more modest paces of growth.
Pharmaceutical Goods Imports in the United States
In 2022, approx. 46K tons of pharmaceutical goodses were imported into the United States; rising by 28% compared with 2021 figures. Over the period under review, total imports indicated a prominent increase from 2019 to 2022: its volume increased at an average annual rate of +16.5% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +58.0% against 2019 indices. The most prominent rate of growth was recorded in 2020 when imports increased by 34% against the previous year. Imports peaked in 2022 and are likely to continue growth in years to come.
In value terms, pharmaceutical goods imports rose remarkably to $4.1B in 2022. Overall, imports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of 9% against the previous year.
| Import of Pharmaceutical Goods in the United States (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Germany | 554 | 443 | 475 | 518 | -2.2% |
| Norway | 346 | 313 | 343 | 360 | 1.3% |
| Ireland | 128 | 140 | 253 | 272 | 28.6% |
| Italy | 111 | 205 | 194 | 230 | 27.5% |
| India | 105 | 117 | 115 | 189 | 21.6% |
| China | 67.9 | 85.8 | 104 | 137 | 26.4% |
| Canada | 119 | 170 | 64.3 | 124 | 1.4% |
| Mexico | 55.9 | 47.1 | 61.2 | 89.5 | 17.0% |
| France | 111 | 61.2 | 90.0 | 84.3 | -8.8% |
| Spain | 33.2 | 44.5 | 63.2 | 76.8 | 32.3% |
| Dominican Republic | 82.0 | 72.7 | 63.6 | 65.2 | -7.4% |
| Hungary | 22.0 | 25.0 | 57.9 | 52.8 | 33.9% |
| Others | 2,491 | 1,794 | 1,948 | 1,913 | -8.4% |
| Total | 4,227 | 3,518 | 3,833 | 4,110 | -0.9% |
Top Suppliers of Pharmaceutical Goods to the United States in 2022:
- China (9.1K tons)
- Canada (6.0K tons)
- Norway (5.8K tons)
- Germany (5.1K tons)
- Mexico (4.5K tons)
- Italy (3.0K tons)
- India (2.5K tons)
- Hungary (1.8K tons)
- Dominican Republic (1.7K tons)
- Ireland (1.0K tons)
- Spain (0.9K tons)
- France (0.8K tons)
Pharmaceutical Goods Exports in the United States
In 2022, the amount of pharmaceutical goodses exported from the United States soared to 17K tons, with an increase of 21% compared with 2021. The total export volume increased at an average annual rate of +4.7% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports reached the peak and are likely to continue growth in the immediate term.
In value terms, pharmaceutical goods exports soared to $2.3B in 2022. The total export value increased at an average annual rate of +3.2% over the period from 2019 to 2022; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed in certain years. As a result, the exports reached the peak and are likely to continue growth in the immediate term.
| Export of Pharmaceutical Goods in the United States (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 211 | 217 | 312 | 385 | 22.2% |
| Japan | 379 | 308 | 292 | 282 | -9.4% |
| Canada | 182 | 149 | 176 | 200 | 3.2% |
| Singapore | 192 | 197 | 223 | 191 | -0.2% |
| Netherlands | 101 | 92.3 | 109 | 137 | 10.7% |
| Germany | 77.8 | 64.5 | 81.2 | 128 | 18.1% |
| Mexico | 68.9 | 69.8 | 77.4 | 100 | 13.2% |
| Australia | 80.8 | 73.9 | 84.4 | 91.2 | 4.1% |
| South Korea | 38.0 | 45.9 | 50.4 | 50.1 | 9.7% |
| United Kingdom | 18.4 | 19.2 | 20.5 | 43.1 | 32.8% |
| Ireland | 5.6 | 5.1 | 5.4 | 28.4 | 71.8% |
| France | 23.4 | 27.9 | 32.8 | 26.6 | 4.4% |
| Argentina | 45.9 | 7.6 | 9.0 | 21.7 | -22.1% |
| Others | 631 | 453 | 477 | 572 | -3.2% |
| Total | 2,054 | 1,730 | 1,950 | 2,256 | 3.2% |
Top Export Markets for Pharmaceutical Goods from the United States in 2022:
- Canada (3.2K tons)
- Mexico (1.8K tons)
- Netherlands (1.4K tons)
- Ireland (1.3K tons)
- China (1.2K tons)
- Germany (0.9K tons)
- Japan (0.8K tons)
- Australia (0.5K tons)
- Singapore (0.4K tons)
- France (0.3K tons)
- United Kingdom (0.3K tons)
- Argentina (0.3K tons)
- South Korea (0.3K tons)
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