ECOWAS: Medicaments Containing Hormones Market 2024

Medicaments Containing Hormones Market Size in ECOWAS

The ECOWAS medicaments containing hormones market rose sharply to $X in 2023, increasing by X% against the previous year. Over the period under review, consumption enjoyed prominent growth. Over the period under review, the market attained the peak level at $X in 2021; however, from 2022 to 2023, consumption failed to regain momentum.

Medicaments Containing Hormones Production in ECOWAS

In value terms, medicaments containing hormones production expanded notably to $X in 2023 estimated in export price. Over the period under review, production showed a resilient increase. The most prominent rate of growth was recorded in 2016 with an increase of X% against the previous year. Over the period under review, production attained the peak level at $X in 2021; however, from 2022 to 2023, production stood at a somewhat lower figure.

Medicaments Containing Hormones Exports

Exports in ECOWAS

In 2023, overseas shipments of medicaments containing hormones but not antibiotics increased by X% to X tons, rising for the second consecutive year after four years of decline. Over the period under review, exports posted a significant increase. 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 hit record highs at X tons in 2017; however, from 2018 to 2023, the exports remained at a lower figure.

In value terms, medicaments containing hormones exports skyrocketed to $X in 2023. In general, exports enjoyed a significant expansion. The pace of growth appeared the most rapid in 2016 with an increase of X% against the previous year. The level of export peaked at $X in 2017; however, from 2018 to 2023, the exports stood at a somewhat lower figure.

Exports by Country

Nigeria dominates exports structure, recording X tons, which was approx. X% of total exports in 2023. Senegal (X kg) held a minor share of total exports.

Nigeria was also the fastest-growing in terms of the medicaments containing hormones but not antibiotics exports, with a CAGR of X% from 2012 to 2023. At the same time, Senegal (X%) displayed positive paces of growth. While the share of Nigeria (X p.p.) increased significantly in terms of the total exports from 2012-2023, the share of Senegal (X p.p.) displayed negative dynamics.

In value terms, Nigeria ($X) remains the largest medicaments containing hormones supplier in ECOWAS, comprising X% of total exports. The second position in the ranking was taken by Senegal ($X), with a X% share of total exports.

From 2012 to 2023, the average annual growth rate of value in Nigeria totaled X%.

Export Prices by Country

The export price in ECOWAS stood at $X per ton in 2023, dropping by X% against the previous year. Over the period under review, the export price, however, saw a resilient expansion. The most prominent rate of growth was recorded in 2020 when the export price increased by X%. The level of export peaked at $X per ton in 2022, and then fell in the following year.

Average prices varied noticeably amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was Senegal ($X per ton), while Nigeria amounted to $X per ton.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Nigeria (X%).

Medicaments Containing Hormones Imports

Imports in ECOWAS

In 2023, overseas purchases of medicaments containing hormones but not antibiotics were finally on the rise to reach X tons for the first time since 2020, thus ending a two-year declining trend. Overall, imports enjoyed a strong expansion. The most prominent rate of growth was recorded in 2020 when imports increased by X% against the previous year. As a result, imports reached the peak of X tons. From 2021 to 2023, the growth of imports remained at a somewhat lower figure.

In value terms, medicaments containing hormones imports soared to $X in 2023. In general, imports continue to indicate buoyant growth. The most prominent rate of growth was recorded in 2020 with an increase of X%. As a result, imports reached the peak of $X. From 2021 to 2023, the growth of imports remained at a somewhat lower figure.

Imports by Country

Nigeria prevails in imports structure, amounting to X tons, which was approx. X% of total imports in 2023. It was distantly followed by Burkina Faso (X tons), mixing up a X% share of total imports. The following importers - Ghana (X tons) and Gambia (X tons) - each finished at a X% share of total imports.

Imports into Nigeria increased at an average annual rate of X% from 2012 to 2023. At the same time, Burkina Faso (X%) displayed positive paces of growth. Moreover, Burkina Faso emerged as the fastest-growing importer imported in ECOWAS, with a CAGR of X% from 2012-2023. By contrast, Gambia (X%) and Ghana (X%) illustrated a downward trend over the same period. While the share of Nigeria (X p.p.) and Burkina Faso (X p.p.) increased significantly in terms of the total imports from 2012-2023, the share of Gambia (X p.p.) and Ghana (X p.p.) displayed negative dynamics.

In value terms, Nigeria ($X) constitutes the largest market for imported medicaments containing hormones but not antibiotics in ECOWAS, comprising X% of total imports. The second position in the ranking was taken by Burkina Faso ($X), with a X% share of total imports. It was followed by Ghana, with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of value in Nigeria stood at X%. The remaining importing countries recorded the following average annual rates of imports growth: Burkina Faso (X% per year) and Ghana (X% per year).

Import Prices by Country

In 2023, the import price in ECOWAS amounted to $X per ton, surging by X% against the previous year. Overall, the import price, however, saw a perceptible setback. The growth pace was the most rapid in 2015 when the import price increased by X%. As a result, import price reached the peak level of $X per ton. From 2016 to 2023, the import prices failed to regain momentum.

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 Nigeria ($X per ton), while Gambia ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform