Australia: Medicaments Containing Insulin Market 2023

Medicaments Containing Insulin Market Size in Australia

The Australian medicaments containing insulin market declined remarkably to $X in 2021, which is down by -70.1% against the previous year. Overall, consumption recorded a abrupt slump. Medicaments containing insulin consumption peaked at $X in 2018; however, from 2019 to 2021, consumption remained at a lower figure.

Medicaments Containing Insulin Production in Australia

In value terms, medicaments containing insulin production declined slightly to $X in 2021 estimated in export price. In general, production, however, recorded a mild decline. The most prominent rate of growth was recorded in 2018 when the production volume increased by 10% against the previous year. Medicaments containing insulin production peaked at $X in 2012; however, from 2013 to 2021, production stood at a somewhat lower figure.

Medicaments Containing Insulin Exports

Exports from Australia

Medicaments containing insulin exports from Australia skyrocketed to X tons in 2021, with an increase of 188% against the previous year. In general, exports saw a significant increase. The pace of growth was the most pronounced in 2019 when exports increased by 882%. The exports peaked in 2021 and are expected to retain growth in years to come.

In value terms, medicaments containing insulin exports skyrocketed to $X in 2021. Over the period under review, exports continue to indicate significant growth. The growth pace was the most rapid in 2019 with an increase of 1,015%. The exports peaked in 2021 and are likely to see gradual growth in the near future.

Exports by Country

Malaysia (X tons) was the main destination for medicaments containing insulin exports from Australia, accounting for a 92% share of total exports. It was followed by Tonga (X kg), with a 2.4% share of total exports.

From 2014 to 2021, the average annual rate of growth in terms of volume to Malaysia totaled +44.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Tonga (+112.3% per year) and Samoa (+70.6% per year).

In value terms, Malaysia ($X) remains the key foreign market for medicaments containing insulin but not antibiotics exports from Australia, comprising 73% of total exports. The second position in the ranking was held by Tonga ($X), with a 12% share of total exports.

From 2014 to 2021, the average annual growth rate of value to Malaysia totaled +37.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Tonga (+236.6% per year) and Samoa (+118.2% per year).

Export Prices by Country

In 2021, the average medicaments containing insulin export price amounted to $X per ton, waning by -23.8% against the previous year. In general, the export price continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 an increase of 33% against the previous year. As a result, the export price reached the peak level of $X per ton, and then dropped remarkably in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Tonga ($X per ton), while the average price for exports to Malaysia ($X per ton) was amongst the lowest.

From 2014 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Tonga (+44.5%), while the prices for the other major destinations experienced mixed trend patterns.

Medicaments Containing Insulin Imports

Imports into Australia

In 2021, the amount of medicaments containing insulin but not antibiotics imported into Australia soared to X kg, jumping by 49% on the previous year. In general, imports posted significant growth. The most prominent rate of growth was recorded in 2013 when imports increased by 1,141% against the previous year. As a result, imports attained the peak of X tons. From 2014 to 2021, the growth of imports remained at a lower figure.

In value terms, medicaments containing insulin imports skyrocketed to $X in 2021. Over the period under review, imports saw a significant expansion. The growth pace was the most rapid in 2013 when imports increased by 1,088% against the previous year. Imports peaked in 2021 and are likely to continue growth in years to come.

Imports by Country

In 2021, the United States (X kg) was the main medicaments containing insulin supplier to Australia, accounting for a 92% share of total imports. Moreover, medicaments containing insulin imports from the United States exceeded the figures recorded by the second-largest supplier, India (X kg), more than tenfold.

From 2012 to 2021, the average annual growth rate of volume from the United States totaled +69.3%.

In value terms, India ($X) constituted the largest supplier of medicaments containing insulin but not antibiotics to Australia, comprising 71% of total imports. The second position in the ranking was held by the United States ($X), with a 13% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of value from India amounted to +51.6%.

Import Prices by Country

The average medicaments containing insulin import price stood at $X per ton in 2021, surging by 71% against the previous year. In general, the import price posted a resilient expansion. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was India ($X per ton), while the price for the United States totaled $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by India (+56.0%).

Source: IndexBox Market Intelligence Platform

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