For retail sale medicaments with insulin or hormones or antibiotics market in Spain

Earlier Report Observations

The Spanish market for retail-packed medicaments containing insulin, hormones, or antibiotics showed considerable movement between 2018 and 2024. After an initial decline to $631 million in 2019, the market volume jumped to $780 million in 2020, followed by a sharp contraction to $551 million the next year.

A recovery phase began in 2022, with the market size growing to $658 million in 2023 and accelerating to $916 million in 2024. During this period, specific regulatory events, such as the 2023 recall of a GlaxoSmithKline antibiotic batch due to packaging defects, influenced product availability and distribution within the market.

Production for retail sale medicaments with insulin or hormones or antibiotics in Spain

In value, 2017-2020, M $ US

Spain's production of retail sale medicaments containing insulin, hormones, or antibiotics has grown for the third consecutive year. In 2020, output reached 247.8 million US dollars, marking a significant 12.4% increase compared to 2019. Over the period from 2017 to 2020, production rose by 31.8%, with a compound annual growth rate of 9.7%.

Annual dynamics of production in Spain in value, 2017-2020, M $ US

Exports for retail sale medicaments with insulin or hormones or antibiotics from Spain

Exports in kind, t

After two years of growth, Spain's export volume of retail sale medicaments with insulin, hormones, or antibiotics declined. In 2020, exports totaled 5 868 tonnes, reflecting a sharp drop of 62.8% from 2019. Between 2017 and 2020, exports decreased by 35.3%, equating to an annualized rate of 13.5%. The peak volume was recorded in 2019 at 15 783 tonnes, which also saw the largest increase of 67.3%.

Annual dynamics of product's exports from Spain in kind, 2017-2020, t

From 2017 to 2020, Portugal, Belgium, and Germany formed the main cluster of markets for Spain's exports in kind of these medicaments. Portugal accounted for 24.9% of exports, Belgium for 23.1%, and Germany for 9.2%, together representing 57.2% of total flows.

Structure of product's exports in kind by countries, 2017-2020

World map of product's exports from Spain in kind, 2017-2020

Exports in value, M $ US

Following a two-year rise, Spain's export value of retail sale medicaments containing insulin, hormones, or antibiotics declined. In 2020, exports amounted to 648 million US dollars, showing a substantial drop of 16.4% compared to 2019. Over the 2017-2020 period, exports increased by 8.9%, with a compound annual growth rate of 2.9%. The highest value was recorded in 2019 at 774 million US dollars, while the largest increase occurred in 2018 at 14.1%.

Annual dynamics of product's exports from Spain in value, 2017-2020, M $ US

During 2017-2020, Spain's exports in value terms of these medicaments were distributed across numerous markets. Canada, Japan, and Germany were the top destinations, accounting for 19.8%, 12.0%, and 11.1% of exports, respectively. Together, they represented only 42.8% of total flows.

Structure of product's exports in value by countries, 2017-2020

World map of product's exports from Spain in value, 2017-2020

Imports for retail sale medicaments with insulin or hormones or antibiotics to Spain

Imports in kind, t

The data shows irregular changes, indicating a volatile market environment. Imports bottomed in 2020 and peaked in 2019, with a 4.7-fold difference between these years. In 2020, shipments to Spain from abroad reached 4 561 tonnes, reflecting an abrupt drop of 78.7% from 2019. The maximum volume was recorded in 2019 at 21 417 tonnes, which also saw the largest increase of 104.0%.

Annual dynamics of product's imports to Spain in kind, 2017-2020, t

Throughout 2017-2020, Belgium, the United Kingdom, and Germany remained the key sources for Spain's imports in kind of these medicaments. Belgium accounted for 36.1% of imports, the United Kingdom for 12.5%, and Germany for 12.2%, together taking 60.8% of total flows.

Structure of product's imports in kind by countries, 2017-2020

World map of product's imports to Spain in kind, 2017-2020

Imports in value, M $ US

After a two-year gain, Spain's import value of retail sale medicaments with insulin, hormones, or antibiotics declined. In 2020, imports reached 1 180 million US dollars, showing minimal change from the previous year. Over the 2017-2020 period, imports increased by 18.3%, with a compound annual growth rate of 5.8%. The peak value was recorded in 2019 at 1 185 million US dollars, while the largest increase occurred in 2018 at 15.2%.

Annual dynamics of product's imports to Spain in value, 2017-2020, M $ US

Analysis of imports in value terms from 2017 to 2020 reveals a broad distribution across many markets. France, Germany, and Belgium were the leading partners, accounting for 20.0%, 18.7%, and 10.5% of imports, respectively. Together, they represented only 49.2% of total flows, with a significant 50.8% falling on other partners.

Structure of product's imports in value by countries, 2017-2020

World map of product's imports to Spain in value, 2017-2020