ECOWAS: Antibiotic Market 2024

Antibiotic Market Size in ECOWAS

The ECOWAS antibiotic market soared to $X in 2022, rising by X% against the previous year. The total consumption indicated a pronounced increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market hit record highs in 2022 and is expected to retain growth in years to come.

Antibiotic Production in ECOWAS

In value terms, antibiotic production reached $X in 2022 estimated in export price. The total production indicated a noticeable increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by X% against 2020 indices. The most prominent rate of growth was recorded in 2018 when the production volume increased by X% against the previous year. Over the period under review, production hit record highs at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Antibiotic Exports

Exports in ECOWAS

In 2022, shipments abroad of antibiotics increased by X% to X tons, rising for the second consecutive year after three years of decline. In general, exports enjoyed a prominent expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, antibiotic exports soared to $X in 2022. Over the period under review, exports posted a remarkable increase. The most prominent rate of growth was recorded in 2021 when exports increased by X%. The level of export peaked in 2022 and is expected to retain growth in the immediate term.

Exports by Country

Niger represented the key exporting country with an export of around X tons, which recorded X% of total exports. It was distantly followed by Cote d'Ivoire (X tons), achieving a X% share of total exports. Benin (X kg) took a relatively small share of total exports.

From 2012 to 2022, average annual rates of growth with regard to antibiotic exports from Niger stood at X%. At the same time, Benin (X%) and Cote d'Ivoire (X%) displayed positive paces of growth. Moreover, Benin emerged as the fastest-growing exporter exported in ECOWAS, with a CAGR of X% from 2012-2022. From 2012 to 2022, the share of Niger, Cote d'Ivoire and Benin increased by X, X and X percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Cote d'Ivoire ($X) emerged as the largest antibiotic supplier in ECOWAS, comprising X% of total exports. The second position in the ranking was taken by Niger ($X), with a X% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value in Cote d'Ivoire totaled X%. The remaining exporting countries recorded the following average annual rates of exports growth: Niger (X% per year) and Benin (X% per year).

Export Prices by Country

In 2022, the export price in ECOWAS amounted to $X per ton, which is down by X% against the previous year. Over the period under review, the export price, however, continues to indicate a modest increase. The most prominent rate of growth was recorded in 2015 an increase of X% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2016 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Cote d'Ivoire ($X per ton), while Niger ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Benin (X%), while the other leaders experienced mixed trends in the export price figures.

Antibiotic Imports

Imports in ECOWAS

After five years of growth, overseas purchases of antibiotics decreased by X% to X tons in 2022. In general, imports saw a slight contraction. The pace of growth was the most pronounced in 2018 when imports increased by X% against the previous year. The volume of import peaked at X tons in 2021, and then contracted markedly in the following year.

In value terms, antibiotic imports dropped notably to $X in 2022. Over the period under review, imports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 with an increase of X%. The level of import peaked at $X in 2020; however, from 2021 to 2022, imports remained at a lower figure.

Imports by Country

Ghana was the main importing country with an import of about X tons, which recorded X% of total imports. Nigeria (X tons) ranks second in terms of the total imports with a X% share, followed by Senegal (X%). The following importers - Niger (X tons) and Togo (X tons) - each amounted to a X% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Senegal (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Ghana ($X), Nigeria ($X) and Niger ($X) appeared to be the countries with the highest levels of imports in 2022, together accounting for X% of total imports.

Among the main importing countries, Niger, with a CAGR of X%, saw 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

In 2022, the import price in ECOWAS amounted to $X per ton, picking up by X% against the previous year. Overall, the import price showed mild growth. The most prominent rate of growth was recorded in 2014 when the import price increased by X%. Over the period under review, import prices hit record highs at $X per ton in 2016; however, from 2017 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Ghana ($X per ton), while Senegal ($X per ton) was amongst the lowest.

From 2012 to 2022, 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

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