Western Africa: Medicaments Containing Hormones Market 2024

Medicaments Containing Hormones Market Size in Western Africa

The West African medicaments containing hormones market rose rapidly to $X in 2023, with an increase of X% against the previous year. In general, consumption showed resilient growth. Over the period under review, the market reached the peak level at $X in 2021; however, from 2022 to 2023, consumption remained at a lower figure.

Medicaments Containing Hormones Production in Western Africa

In value terms, medicaments containing hormones production rose markedly to $X in 2023 estimated in export price. Overall, production continues to indicate buoyant growth. The pace of growth appeared the most rapid in 2016 with an increase of X% against the previous year. Over the period under review, production reached the maximum level at $X in 2021; however, from 2022 to 2023, production stood at a somewhat lower figure.

Medicaments Containing Hormones Exports

Exports in Western Africa

In 2023, shipments abroad of medicaments containing hormones but not antibiotics increased by X% to X tons, rising for the second year in a row after four years of decline. Overall, exports posted a significant increase. The pace of growth appeared the most rapid in 2016 when exports increased by X% against the previous year. The volume of export peaked at X tons in 2017; however, from 2018 to 2023, the exports failed to regain momentum.

In value terms, medicaments containing hormones exports surged to $X in 2023. In general, exports continue to indicate a significant increase. The pace of growth was the most pronounced in 2016 with an increase of X%. The level of export peaked at $X in 2017; however, from 2018 to 2023, the exports failed to regain momentum.

Exports by Country

Nigeria prevails in exports structure, finishing at X tons, which was approx. X% of total exports in 2023. Senegal (X kg) followed a long way behind the leaders.

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. From 2012 to 2023, the share of Nigeria increased by X percentage points.

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

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

Export Prices by Country

In 2023, the export price in Western Africa amounted to $X per ton, shrinking by X% against the previous year. In general, the export price, however, continues to indicate strong growth. The pace of growth was the most pronounced in 2020 an increase of X%. Over the period under review, the export prices hit record highs at $X per ton in 2022, and then reduced 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 stood at $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 Western Africa

In 2023, after two years of decline, there was significant growth in purchases abroad of medicaments containing hormones but not antibiotics, when their volume increased by X% to X tons. Overall, imports saw a buoyant increase. The most prominent rate of growth was recorded in 2020 when imports increased by X%. As a result, imports attained 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. Over the period under review, imports saw resilient growth. The most prominent rate of growth was recorded in 2020 with an increase of X% against the previous year. As a result, imports reached the peak of $X. From 2021 to 2023, the growth of imports remained at a lower figure.

Imports by Country

Nigeria was the major importer of medicaments containing hormones but not antibiotics in Western Africa, with the volume of imports resulting at X tons, which was near X% of total imports in 2023. It was distantly followed by Mauritania (X tons), creating a X% share of total imports. Burkina Faso (X tons), Ghana (X tons) and Gambia (X tons) took a relatively small 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%) and Mauritania (X%) displayed positive paces of growth. Moreover, Burkina Faso emerged as the fastest-growing importer imported in Western Africa, with a CAGR of X% from 2012-2023. By contrast, Gambia (X%) and Ghana (X%) illustrated a downward trend over the same period. Nigeria (X p.p.), Mauritania (X p.p.) and Burkina Faso (X p.p.) significantly strengthened its position in terms of the total imports, while Gambia and Ghana saw its share reduced by X% and X% from 2012 to 2023, respectively.

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

In Nigeria, medicaments containing hormones imports increased at an average annual rate of X% over the period from 2012-2023. In the other countries, the average annual rates were as follows: Mauritania (X% per year) and Burkina Faso (X% per year).

Import Prices by Country

In 2023, the import price in Western Africa amounted to $X per ton, with an increase of X% against the previous year. Over the period under review, the import price, however, showed a noticeable decline. The most prominent rate of growth was recorded in 2015 when the import price increased by X%. As a result, import price attained the peak level of $X per ton. From 2016 to 2023, the import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Nigeria ($X per ton), while Mauritania ($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