Panama: Veterinary Medicine Vaccines Market 2024

Veterinary Medicine Vaccines Market Size in Panama

In 2022, the Panamanian veterinary medicine vaccines market decreased by X% to $X for the first time since 2019, thus ending a two-year rising trend. Over the period under review, consumption recorded a abrupt slump. Veterinary medicine vaccines consumption peaked at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Veterinary Medicine Vaccines Production in Panama

In value terms, veterinary medicine vaccines production rose to $X in 2022 estimated in export price. Overall, the total production indicated noticeable growth 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 increased by X% against 2019 indices. The most prominent rate of growth was recorded in 2015 with an increase of X% against the previous year. Veterinary medicine vaccines production peaked at $X in 2018; however, from 2019 to 2022, production failed to regain momentum.

Veterinary Medicine Vaccines Exports

Exports from Panama

In 2022, overseas shipments of vaccines for veterinary medicine decreased by X% to X tons, falling for the second year in a row after two years of growth. Overall, exports showed a mild shrinkage. The most prominent rate of growth was recorded in 2020 when exports increased by X% against the previous year. As a result, the exports reached the peak of X tons. From 2021 to 2022, the growth of the exports failed to regain momentum.

In value terms, veterinary medicine vaccines exports amounted to $X in 2022. In general, exports saw pronounced growth. The pace of growth was the most pronounced in 2017 with an increase of X% against the previous year. The exports peaked at $X in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Costa Rica (X tons), Guatemala (X tons) and the Dominican Republic (X tons) were the main destinations of veterinary medicine vaccines exports from Panama, together comprising X% of total exports. Honduras, Ecuador, El Salvador, Nicaragua, Bolivia and Venezuela lagged somewhat behind, together accounting for a further X%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Ecuador (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for veterinary medicine vaccines exported from Panama were Costa Rica ($X), Guatemala ($X) and the Dominican Republic ($X), with a combined X% share of total exports. Honduras, Ecuador, El Salvador, Nicaragua, Venezuela and Bolivia lagged somewhat behind, together comprising a further X%.

In terms of the main countries of destination, Bolivia, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average veterinary medicine vaccines export price stood at $X per ton in 2022, approximately reflecting the previous year. In general, the export price showed a resilient expansion. The most prominent rate of growth was recorded in 2017 an increase of X%. The export price peaked at $X per ton in 2018; however, from 2019 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Costa Rica ($X per ton), while the average price for exports to Bolivia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Peru (X%), while the prices for the other major destinations experienced more modest paces of growth.

Veterinary Medicine Vaccines Imports

Imports into Panama

Veterinary medicine vaccines imports into Panama soared to X tons in 2022, with an increase of X% on 2021 figures. Overall, imports, however, recorded a precipitous decrease. Over the period under review, imports reached the peak figure at X tons in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, veterinary medicine vaccines imports skyrocketed to $X in 2022. Over the period under review, imports, however, faced a abrupt setback. The pace of growth appeared the most rapid in 2017 with an increase of X% against the previous year. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, the United States (X tons) constituted the largest veterinary medicine vaccines supplier to Panama, with a X% share of total imports. Moreover, veterinary medicine vaccines imports from the United States exceeded the figures recorded by the second-largest supplier, the Netherlands (X tons), twofold. Mexico (X tons) ranked third in terms of total imports with an X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from the United States stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (X% per year) and Mexico (X% per year).

In value terms, the United States ($X) constituted the largest supplier of vaccines for veterinary medicine to Panama, comprising X% of total imports. The second position in the ranking was held by the Netherlands ($X), with a X% share of total imports. It was followed by Mexico, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value from the United States totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (X% per year) and Mexico (X% per year).

Import Prices by Country

In 2022, the average veterinary medicine vaccines import price amounted to $X per ton, with an increase of X% against the previous year. In general, the import price enjoyed a buoyant increase. The growth pace was the most rapid in 2017 an increase of X% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2018; however, from 2019 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the Netherlands ($X per ton), while the price for Mexico ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by New Zealand (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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