Updated Oct 1, 2022 12:08

Market for Sterile Medical Adhesion Barrier in Singapore

Market Overview
The Singaporean sterile medical adhesion barrier market soared to $ in , with an increase of % 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). In general, consumption recorded a temperate increase. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.


Consumption
Sterile medical adhesion barrier consumption in Singapore dropped to tons in , declining by -% compared with the previous year's figure. In general, consumption showed a noticeable slump. Sterile medical adhesion barrier consumption peaked at tons in 2007; however, from 2008 to , consumption stood at a somewhat lower figure.

The revenue of the sterile medical adhesion barrier market in Singapore declined significantly to $ in , shrinking 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, continues to indicate a slight expansion. As a result, consumption reached the peak level of $, and then fell remarkably in the following year.


Market Forecast
Depressed by shrinking demand for sterile medical adhesion barrier in Singapore, 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
Sterile medical adhesion barrier market in Singapore consists almost entirely of imported products. In recent years, import price have increased sharply. Despite the hike in price, Singapore relies completely on foreign supplies: the volume of domestic output remains insufficient to satiate market demand. In , the share of imports in total consumption accounted for % in value terms and % in physical terms. The share of imports decreased moderately (- percentage point) over the period under review.


Trade Balance
Singapore remains a net importer of sterile medical adhesion barrier; in physical and value terms, imports consistently exceeded exports from 2007 to . In , there was a significant trade deficit of tons, which was equal to $. This tangible trade deficit reflects the fact that the market remains dependent on imports, which is likely to continue in the medium term.