ECOWAS: Medicaments Containing Penicillin Market 2024

Medicaments Containing Penicillin Market Size in ECOWAS

The ECOWAS medicaments containing penicillin market declined to $X in 2023, dropping by X% against the previous year. Overall, consumption showed a noticeable downturn. As a result, consumption reached the peak level of $X. From 2015 to 2023, the growth of the market remained at a lower figure.

Medicaments Containing Penicillin Production in ECOWAS

In value terms, medicaments containing penicillin production rose sharply to $X in 2023 estimated in export price. In general, production showed a pronounced curtailment. The pace of growth was the most pronounced in 2014 when the production volume increased by X%. As a result, production reached the peak level of $X. From 2015 to 2023, production growth remained at a somewhat lower figure.

Medicaments Containing Penicillin Exports

Exports in ECOWAS

In 2023, after five years of growth, there was significant decline in overseas shipments of medicaments containing penicillins or derivatives thereof, when their volume decreased by X% to X tons. Over the period under review, exports, however, continue to indicate a strong expansion. The most prominent rate of growth was recorded in 2016 with an increase of X% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2022, and then declined in the following year.

In value terms, medicaments containing penicillin exports dropped to $X in 2023. Overall, exports, however, recorded a significant expansion. The pace of growth appeared the most rapid in 2017 with an increase of X% against the previous year. The level of export peaked at $X in 2022, and then reduced in the following year.

Exports by Country

The shipments of the one major exporters of medicaments containing penicillins or derivatives thereof, namely Niger, represented more than two-thirds of total export.

Niger was also the fastest-growing in terms of the medicaments containing penicillins or derivatives thereof exports, with a CAGR of X% from 2012 to 2023. Niger (X p.p.) significantly strengthened its position in terms of the total exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Niger ($X) also remains the largest medicaments containing penicillin supplier in ECOWAS.

In Niger, medicaments containing penicillin exports increased at an average annual rate of X% over the period from 2012-2023.

Export Prices by Country

The export price in ECOWAS stood at $X per ton in 2023, remaining relatively unchanged against the previous year. In general, the export price, however, posted a resilient expansion. The pace of growth appeared the most rapid in 2017 when the export price increased by X% against the previous year. Over the period under review, the export prices reached the peak figure at $X per ton in 2018; however, from 2019 to 2023, the export prices failed to regain momentum.

As there is only one major export destination, the average price level is determined by prices for Niger.

From 2012 to 2023, the rate of growth in terms of prices for Niger amounted to X% per year.

Medicaments Containing Penicillin Imports

Imports in ECOWAS

In 2023, overseas purchases of medicaments containing penicillins or derivatives thereof decreased by X% to X tons for the first time since 2019, thus ending a three-year rising trend. Overall, imports, however, continue to indicate a prominent expansion. The most prominent rate of growth was recorded in 2016 with an increase of X% against the previous year. Over the period under review, imports hit record highs at X tons in 2022, and then reduced markedly in the following year.

In value terms, medicaments containing penicillin imports dropped notably to $X in 2023. Over the period under review, imports, however, posted a resilient expansion. The pace of growth was the most pronounced in 2020 when imports increased by X%. The level of import peaked at $X in 2021; however, from 2022 to 2023, imports failed to regain momentum.

Imports by Country

In 2023, Ghana (X tons), Nigeria (X tons) and Gambia (X tons) represented the largest importer of medicaments containing penicillins or derivatives thereof in ECOWAS, constituting X% of total import. It was distantly followed by Guinea (X tons), making up a X% share of total imports.

From 2012 to 2023, the biggest increases were recorded for Ghana (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Gambia ($X), Guinea ($X) and Nigeria ($X) constituted the countries with the highest levels of imports in 2023, with a combined X% share of total imports.

In terms of the main importing countries, Nigeria, with a CAGR of X%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in ECOWAS stood at $X per ton in 2023, surging by X% against the previous year. Import price indicated a modest expansion from 2012 to 2023: its price increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, medicaments containing penicillin import price decreased by X% against 2021 indices. The level of import peaked at $X per ton in 2013; however, from 2014 to 2023, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2023, amid the top importers, the country with the highest price was Guinea ($X per ton), while Ghana ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Nigeria (X%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform