Australia: Vaccine Market 2024

Vaccine Market Size in Australia

The Australian vaccine market declined rapidly to $X in 2022, reducing by -29.5% against the previous year. Overall, consumption, however, saw pronounced growth. As a result, consumption reached the peak level of $X, and then dropped significantly in the following year.

Vaccine Production in Australia

In value terms, vaccine production declined to $X in 2022 estimated in export price. Overall, production, however, recorded a pronounced expansion. The pace of growth was the most pronounced in 2018 with an increase of 791% against the previous year. Vaccine production peaked at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Vaccine Exports

Exports from Australia

In 2022, shipments abroad of vaccines for human medicine decreased by -18.6% to X tons for the first time since 2019, thus ending a two-year rising trend. Over the period under review, exports continue to indicate a deep reduction. The growth pace was the most rapid in 2021 with an increase of 32%. The exports peaked at X tons in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

In value terms, vaccine exports reduced remarkably to $X in 2022. Overall, exports showed a deep downturn. The growth pace was the most rapid in 2021 with an increase of 56% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

The United States (X tons), Germany (X tons) and Belgium (X tons) were the main destinations of vaccine exports from Australia, together comprising 49% of total exports.

From 2012 to 2022, the biggest increases were recorded for Belgium (with a CAGR of +126.3%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for vaccine exported from Australia were the United States ($X), Germany ($X) and Indonesia ($X), with a combined 78% share of total exports. Vietnam, Belgium, New Zealand, Argentina, Canada, New Caledonia, South Korea and China lagged somewhat behind, together accounting for a further 18%.

Belgium, with a CAGR of +118.2%, recorded the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average vaccine export price stood at $X per ton in 2022, leveling off at the previous year. Overall, export price indicated a mild expansion from 2012 to 2022: its price increased at an average annual rate of +1.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, vaccine export price increased by +19.6% against 2020 indices. The most prominent rate of growth was recorded in 2015 an increase of 40% against the previous year. The export price peaked at $X per ton in 2017; however, from 2018 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was China ($X per ton), while the average price for exports to South Korea ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Indonesia (+25.4%), while the prices for the other major destinations experienced more modest paces of growth.

Vaccine Imports

Imports into Australia

In 2022, imports of vaccines for human medicine into Australia reduced markedly to X tons, falling by -45.8% against 2021 figures. In general, imports, however, recorded a noticeable expansion. The most prominent rate of growth was recorded in 2021 when imports increased by 277%. As a result, imports reached the peak of X tons, and then reduced sharply in the following year.

In value terms, vaccine imports declined markedly to $X in 2022. Overall, imports, however, continue to indicate a resilient increase. The most prominent rate of growth was recorded in 2021 with an increase of 823% against the previous year. As a result, imports attained the peak of $X, and then contracted notably in the following year.

Imports by Country

In 2022, South Korea (X tons) constituted the largest supplier of vaccine to Australia, accounting for a 42% share of total imports. Moreover, vaccine imports from South Korea exceeded the figures recorded by the second-largest supplier, Spain (X tons), twofold. Belgium (X tons) ranked third in terms of total imports with a 12% share.

From 2012 to 2022, the average annual growth rate of volume from South Korea amounted to +63.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (+81.8% per year) and Belgium (-7.4% per year).

In value terms, Belgium ($X) constituted the largest supplier of vaccines for human medicine to Australia, comprising 61% of total imports. The second position in the ranking was taken by Spain ($X), with a 15% share of total imports. It was followed by South Korea, with a 5.4% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Belgium totaled +24.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (+108.6% per year) and South Korea (+53.4% per year).

Import Prices by Country

In 2022, the average vaccine import price amounted to $X per kg, growing by 2.3% against the previous year. In general, the import price posted a buoyant expansion. The most prominent rate of growth was recorded in 2021 when the average import price increased by 144%. The import price peaked in 2022 and is likely to see steady growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Belgium ($X per kg), while the price for the Netherlands ($X per kg) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Belgium (+33.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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