Updated Sep 19, 2022 17:29

Market for Penicillins Or Streptomycins Medicaments in Portugal

Market Overview
In , the Portuguese penicillins or streptomycins medicaments market increased by % to $ for the first time since 2016, thus ending a five-year declining trend. In general, consumption, however, continues to indicate a deep downturn. Over the period under review, the market attained the maximum level at $ in 2008; however, from 2009 to , consumption remained at a lower figure.

In value terms, penicillins or streptomycins medicaments production contracted to $ in estimated in export price. Overall, production recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2015 with an increase of %. Over the period under review, production attained the peak level at $ in 2008; however, from 2009 to , production failed to regain momentum.


Consumption
Penicillins or streptomycins medicaments consumption in Portugal soared to tons in , with an increase of % against the previous year's figure. In general, consumption, however, recorded a pronounced reduction. Over the period under review, consumption attained the maximum volume at tons in 2018; however, from 2019 to , consumption remained at a lower figure.

The revenue of the penicillins or streptomycins medicaments market in Portugal skyrocketed to $ in , increasing by % against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption, however, showed a deep downturn. Over the period under review, the market hit record highs at $ in 2008; however, from 2009 to , consumption failed to regain momentum.


Market Forecast
Depressed by shrinking demand for penicillins or streptomycins medicaments in Portugal, the market is expected to continue its downward consumption trend over the next eight years. The performance of the market is forecast to contract with an anticipated CAGR of -% for the period from to , which is projected to depress the market volume to tons by the end of .

In value terms, the market is forecast to contract with an anticipated CAGR of -% for the period from to , which is projected to bring the market value to $ (in nominal prices) by the end of .


Market Structure
Driven by a growing demand, the share of imports in total supply in Portugal increased significantly over the last fifteen years (from % to %). In , the share of imports in total consumption accounted for % in value terms and % in physical terms. The share of imports increased moderately ( percentage point) over the period under review.


Trade Balance
Portugal remains a net exporter of penicillins or streptomycins medicaments; in physical and value terms, exports consistently exceeded imports from 2007 to . In , there was a significant trade surplus of tons, which was equal to $. This tangible trade surplus reflects the fact that the market remains buoyed by domestic production, and the industry is highly incorporated into the global market, which is likely to continue in the medium term.