Latin America and the Caribbean: X-Ray Examination Preparations Market 2023

X-Ray Examination Preparations Market Size in Latin America and the Caribbean

In 2021, the Latin American x-ray examination preparations market decreased by -2.1% to $X for the first time since 2016, thus ending a four-year rising trend. Over the period under review, consumption, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 when the market value increased by 9.8% against the previous year. Over the period under review, the market attained the maximum level at $X in 2020, and then dropped in the following year.

X-Ray Examination Preparations Production in Latin America and the Caribbean

In value terms, x-ray examination preparations production dropped to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.6% over the period from 2012 to 2021; however, the trend pattern remained consistent, with only minor fluctuations being observed throughout the analyzed period. The most prominent rate of growth was recorded in 2019 when the production volume increased by 12% against the previous year. Over the period under review, production attained the maximum level at $X in 2020, and then contracted slightly in the following year.

X-Ray Examination Preparations Exports

Exports in Latin America and the Caribbean

In 2021, the amount of opacifying preparations for x-ray examinations exported in Latin America and the Caribbean skyrocketed to X tons, rising by 39% compared with the previous year's figure. In general, exports, however, saw a pronounced descent. The most prominent rate of growth was recorded in 2014 with an increase of 56% against the previous year. As a result, the exports reached the peak of X tons. From 2015 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, x-ray examination preparations exports skyrocketed to $X in 2021. Overall, exports, however, showed a noticeable descent. Over the period under review, the exports reached the peak figure at $X in 2014; however, from 2015 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Brazil prevails in exports structure, reaching X tons, which was near 82% of total exports in 2021. Guatemala (X tons) took a 7.3% share (based on physical terms) of total exports, which put it in second place, followed by Argentina (5.1%). Panama (X tons) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to x-ray examination preparations exports from Brazil stood at +1.2%. At the same time, Guatemala (+19.8%) displayed positive paces of growth. Moreover, Guatemala emerged as the fastest-growing exporter exported in Latin America and the Caribbean, with a CAGR of +19.8% from 2012-2021. By contrast, Argentina (-3.6%) and Panama (-26.4%) illustrated a downward trend over the same period. Brazil (+33 p.p.) and Guatemala (+6.4 p.p.) significantly strengthened its position in terms of the total exports, while Panama saw its share reduced by -37.5% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Brazil ($X) remains the largest x-ray examination preparations supplier in Latin America and the Caribbean, comprising 65% of total exports. The second position in the ranking was taken by Guatemala ($X), with a 20% share of total exports. It was followed by Argentina, with a 6.7% share.

From 2012 to 2021, the average annual growth rate of value in Brazil totaled +5.1%. The remaining exporting countries recorded the following average annual rates of exports growth: Guatemala (+27.0% per year) and Argentina (+0.3% per year).

Export Prices by Country

The export price in Latin America and the Caribbean stood at $X per ton in 2021, rising by 18% against the previous year. Over the last nine years, it increased at an average annual rate of +1.3%. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably country of origin: the country with the highest price was Guatemala ($X per ton), while Brazil ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Guatemala (+6.0%), while the other leaders experienced more modest paces of growth.

X-Ray Examination Preparations Imports

Imports in Latin America and the Caribbean

In 2021, the amount of opacifying preparations for x-ray examinations imported in Latin America and the Caribbean rose remarkably to X tons, surging by 13% compared with the year before. Over the period under review, imports, however, saw a relatively flat trend pattern. The volume of import peaked at X tons in 2013; however, from 2014 to 2021, imports remained at a lower figure.

In value terms, x-ray examination preparations imports rose sharply to $X in 2021. Overall, imports saw a relatively flat trend pattern. The level of import peaked at $X in 2017; however, from 2018 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Brazil (X tons) represented the largest importer of opacifying preparations for x-ray examinations, comprising 35% of total imports. Colombia (X tons) ranks second in terms of the total imports with a 17% share, followed by Argentina (11%) and Chile (10%). Guatemala (X tons), Ecuador (X tons), the Dominican Republic (X tons), Nicaragua (X tons), Peru (X tons), Panama (X tons), Mexico (X tons) and Uruguay (X tons) held a relatively small share of total imports.

Brazil experienced a relatively flat trend pattern with regard to volume of imports of opacifying preparations for x-ray examinations. At the same time, Nicaragua (+31.7%), the Dominican Republic (+18.0%), Colombia (+12.4%), Chile (+10.8%), Ecuador (+8.1%) and Peru (+1.8%) displayed positive paces of growth. Moreover, Nicaragua emerged as the fastest-growing importer imported in Latin America and the Caribbean, with a CAGR of +31.7% from 2012-2021. Argentina experienced a relatively flat trend pattern. By contrast, Panama (-7.7%), Uruguay (-9.3%), Guatemala (-14.7%) and Mexico (-20.7%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Colombia, Chile, the Dominican Republic, Nicaragua and Ecuador increased by +11, +6.6, +2.2, +2.1 and +1.9 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest x-ray examination preparations importing markets in Latin America and the Caribbean were Brazil ($X), Colombia ($X) and Chile ($X), together comprising 54% of total imports. Argentina, the Dominican Republic, Ecuador, Guatemala, Peru, Panama, Mexico, Uruguay and Nicaragua lagged somewhat behind, together accounting for a further 34%.

Nicaragua, with a CAGR of +29.7%, recorded the highest growth rate of the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the import price in Latin America and the Caribbean amounted to $X per ton, standing approx. at the previous year. Over the period under review, the import price, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 an increase of 6.6%. The level of import peaked at $X per ton in 2018; however, from 2019 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was the Dominican Republic ($X per ton), while Nicaragua ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Guatemala (+21.5%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

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