Greece: Medicaments Containing Insulin Market 2023

Medicaments Containing Insulin Market Size in Greece

In 2021, the Greek medicaments containing insulin market was finally on the rise to reach $X after two years of decline. Over the period under review, consumption, however, continues to indicate significant growth. Medicaments containing insulin consumption peaked at $X in 2016; however, from 2017 to 2021, consumption remained at a lower figure.

Medicaments Containing Insulin Production in Greece

In value terms, medicaments containing insulin production totaled $X in 2021 estimated in export price. In general, production showed a slight setback. The pace of growth appeared the most rapid in 2016 with an increase of 29%. As a result, production attained the peak level of $X. From 2017 to 2021, production growth remained at a somewhat lower figure.

Medicaments Containing Insulin Exports

Exports from Greece

In 2019, medicaments containing insulin exports from Greece dropped markedly to X kg, falling by -51.5% on the previous year's figure. Over the period under review, exports saw a precipitous contraction. The most prominent rate of growth was recorded in 2017 when exports increased by 12,467%. The exports peaked at X tons in 2012; however, from 2013 to 2019, the exports failed to regain momentum.

In value terms, medicaments containing insulin exports shrank to $X in 2019. In general, exports saw a deep downturn. The pace of growth appeared the most rapid in 2017 with an increase of 24,264%. Over the period under review, the exports reached the peak figure at $X in 2013; however, from 2014 to 2019, the exports failed to regain momentum.

Exports by Country

The Netherlands (X kg) was the main destination for medicaments containing insulin exports from Greece, with a approx. 100% share of total exports.

From 2012 to 2019, the average annual growth rate of volume to the Netherlands totaled +178.8%.

In value terms, the Netherlands ($X) also remains the key foreign market for medicaments containing insulin but not antibiotics exports from Greece.

From 2012 to 2019, the average annual growth rate of value to the Netherlands totaled +72.7%.

Export Prices by Country

In 2019, the average medicaments containing insulin export price amounted to $X per ton, with an increase of 88% against the previous year. Overall, the export price continues to indicate significant growth. The pace of growth appeared the most rapid in 2013 when the average export price increased by 132% against the previous year. The export price peaked in 2019 and is likely to see steady growth in the immediate term.

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

From 2012 to 2019, the rate of growth in terms of prices for Cyprus amounted to +133.9% per year.

Medicaments Containing Insulin Imports

Imports into Greece

In 2019, the amount of medicaments containing insulin but not antibiotics imported into Greece shrank to X kg, reducing by -13.5% compared with 2018. Overall, imports, however, enjoyed a resilient expansion. The growth pace was the most rapid in 2017 when imports increased by 125%. As a result, imports attained the peak of X kg. From 2018 to 2019, the growth of imports remained at a lower figure.

In value terms, medicaments containing insulin imports declined markedly to $X in 2019. Over the period under review, imports, however, showed a prominent expansion. The pace of growth was the most pronounced in 2017 with an increase of 141%. As a result, imports reached the peak of $X. From 2018 to 2019, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2019, Spain (X kg) was the main supplier of medicaments containing insulin to Greece, with a 91% share of total imports. Moreover, medicaments containing insulin imports from Spain exceeded the figures recorded by the second-largest supplier, Austria (X kg), more than tenfold. The third position in this ranking was taken by the Netherlands (X kg), with a 3.4% share.

From 2012 to 2019, the average annual growth rate of volume from Spain was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Austria (-25.3% per year) and the Netherlands (-47.8% per year).

In value terms, Spain ($X) constituted the largest supplier of medicaments containing insulin but not antibiotics to Greece, comprising 77% of total imports. The second position in the ranking was held by Austria ($X), with an 18% share of total imports. It was followed by the Netherlands, with a 5.2% share.

From 2012 to 2019, the average annual rate of growth in terms of value from Spain totaled +9.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Austria (-1.1% per year) and the Netherlands (+11.5% per year).

Import Prices by Country

The average medicaments containing insulin import price stood at $X per ton in 2019, reducing by -12.2% against the previous year. Overall, import price indicated a remarkable increase from 2012 to 2019: its price increased at an average annual rate of +6.4% over the last seven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2019 figures, medicaments containing insulin import price increased by +46.8% against 2016 indices. The pace of growth was the most pronounced in 2018 an increase of 56%. As a result, import price attained the peak level of $X per ton, and then dropped in the following year.

There were significant differences in the average prices amongst the major supplying countries. In 2019, amid the top importers, the country with the highest price was Austria ($X per ton), while the price for Spain ($X per ton) was amongst the lowest.

From 2012 to 2019, the most notable rate of growth in terms of prices was attained by the Netherlands (+108.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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