Slovakia: Medicaments Containing Insulin Market 2023

Medicaments Containing Insulin Market Size in Slovakia

The Slovak medicaments containing insulin market shrank to $X in 2021, which is down by -9.5% against the previous year. Over the period under review, consumption showed a dramatic setback. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Medicaments Containing Insulin Production in Slovakia

In value terms, medicaments containing insulin production contracted markedly to $X in 2021 estimated in export price. Overall, production, however, showed a precipitous decline. The pace of growth appeared the most rapid in 2020 with an increase of 67%. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

Medicaments Containing Insulin Exports

Exports from Slovakia

In 2021, shipments abroad of medicaments containing insulin but not antibiotics increased by 11% to X tons, rising for the second consecutive year after five years of decline. Over the period under review, exports, however, continue to indicate a abrupt contraction. The most prominent rate of growth was recorded in 2020 when exports increased by 145%. Over the period under review, the exports reached the maximum at X tons in 2014; however, from 2015 to 2021, the exports remained at a lower figure.

In value terms, medicaments containing insulin exports stood at $X in 2021. Overall, exports, however, recorded a sharp shrinkage. The most prominent rate of growth was recorded in 2020 when exports increased by 47% against the previous year. Over the period under review, the exports hit record highs at $X in 2014; however, from 2015 to 2021, the exports failed to regain momentum.

Exports by Country

The Netherlands (X kg) was the main destination for medicaments containing insulin exports from Slovakia, accounting for a 65% share of total exports. Moreover, medicaments containing insulin exports to the Netherlands exceeded the volume sent to the second major destination, Bulgaria (X kg), twofold. The third position in this ranking was held by the Czech Republic (X kg), with a 5.1% share.

From 2012 to 2021, the average annual growth rate of volume to the Netherlands totaled +4.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Bulgaria (0.0% per year) and the Czech Republic (-8.3% per year).

In value terms, the Netherlands ($X), Germany ($X) and the Czech Republic ($X) constituted the largest markets for medicaments containing insulin exported from Slovakia worldwide, together comprising 84% of total exports. These countries were followed by Bulgaria, which accounted for a further 16%.

In terms of the main countries of destination, Bulgaria, with a CAGR of 0.0%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced a decline.

Export Prices by Country

In 2021, the average medicaments containing insulin export price amounted to $X per ton, with a decrease of -9.5% against the previous year. Overall, the export price faced a deep downturn. The growth pace was the most rapid in 2017 an increase of 39% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2018 to 2021, the average export prices remained at a lower figure.

There were significant differences in the average prices for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was Germany ($X per ton), while the average price for exports to the Netherlands ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Denmark (+35.1%), while the prices for the other major destinations experienced more modest paces of growth.

Medicaments Containing Insulin Imports

Imports into Slovakia

In 2021, the amount of medicaments containing insulin but not antibiotics imported into Slovakia dropped remarkably to X kg, which is down by -50% against 2020 figures. In general, imports, however, recorded a significant expansion. The growth pace was the most rapid in 2016 when imports increased by 79,050%. As a result, imports attained the peak of X tons. From 2017 to 2021, the growth of imports failed to regain momentum.

In value terms, medicaments containing insulin imports shrank to $X in 2021. Over the period under review, imports, however, showed a significant increase. The pace of growth was the most pronounced in 2016 when imports increased by 29,325%. As a result, imports reached the peak of $X. From 2017 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2021, the Czech Republic (X kg) was the main medicaments containing insulin supplier to Slovakia, with a approx. 100% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of volume from the Czech Republic totaled +64.8%.

In value terms, the Czech Republic ($X) constituted the largest supplier of medicaments containing insulin but not antibiotics to Slovakia.

From 2012 to 2021, the average annual growth rate of value from the Czech Republic amounted to +60.1%.

Import Prices by Country

The average medicaments containing insulin import price stood at $X per ton in 2021, increasing by 82% against the previous year. Over the period under review, the import price recorded measured growth. The most prominent rate of growth was recorded in 2014 an increase of 125% against the previous year. As a result, import price attained the peak level of $X per ton. From 2015 to 2021, the average import prices failed to regain momentum.

As there is only one major supplying country, the average price level is determined by prices for the Czech Republic.

From 2012 to 2021, the rate of growth in terms of prices for Austria amounted to -15.5% per year.

Source: IndexBox Platform

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