Azerbaijan: Veterinary Medicine Vaccines Market 2024

Veterinary Medicine Vaccines Market Size in Azerbaijan

The Azerbaijani veterinary medicine vaccines market dropped rapidly to $X in 2021, waning by -46.3% 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, however, recorded a relatively flat trend pattern. Over the period under review, the market hit record highs at $X in 2020, and then declined markedly in the following year.

Veterinary Medicine Vaccines Exports

Exports from Azerbaijan

After two years of decline, shipments abroad of vaccines for veterinary medicine increased by 65% to X kg in 2021. In general, exports, however, saw a slight downturn. The pace of growth was the most pronounced in 2014 when exports increased by 81% against the previous year. As a result, the exports reached the peak of X tons. From 2015 to 2021, the growth of the exports remained at a lower figure.

In value terms, veterinary medicine vaccines exports reached $X in 2021. Overall, exports recorded a strong expansion. The growth pace was the most rapid in 2014 when exports increased by 86% against the previous year. The exports peaked in 2021 and are expected to retain growth in years to come.

Exports by Country

Kazakhstan (X kg) was the main destination for veterinary medicine vaccines exports from Azerbaijan, accounting for a 96% share of total exports. Moreover, veterinary medicine vaccines exports to Kazakhstan exceeded the volume sent to the second major destination, Moldova (X kg), more than tenfold.

From 2012 to 2021, the average annual rate of growth in terms of volume to Kazakhstan stood at +2.6%.

In value terms, Moldova ($X) and Kazakhstan ($X) constituted the largest markets for veterinary medicine vaccines exported from Azerbaijan worldwide.

Moldova, with a CAGR of +32.7%, saw the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review.

Export Prices by Country

In 2021, the average veterinary medicine vaccines export price amounted to $X per ton, which is down by -32% against the previous year. Over the period under review, the export price, however, saw a remarkable increase. The growth pace was the most rapid in 2016 when the average export price increased by 120%. The export price peaked at $X per ton in 2020, and then shrank significantly in the following year.

There were significant differences in the average prices for the major external markets. In 2021, the country with the highest price was Moldova ($X per ton), while the average price for exports to Kazakhstan totaled $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Moldova (+24.3%).

Veterinary Medicine Vaccines Imports

Imports into Azerbaijan

In 2021, veterinary medicine vaccines imports into Azerbaijan reduced notably to X tons, shrinking by -38.1% against 2020 figures. Over the period under review, imports continue to indicate a pronounced shrinkage. The pace of growth appeared the most rapid in 2015 when imports increased by 141% against the previous year. As a result, imports attained the peak of X tons. From 2016 to 2021, the growth of imports remained at a lower figure.

In value terms, veterinary medicine vaccines imports dropped sharply to $X in 2021. In general, imports, however, showed a mild expansion. The pace of growth was the most pronounced in 2015 when imports increased by 191%. Imports peaked at $X in 2020, and then declined significantly in the following year.

Imports by Country

In 2021, Russia (X tons) constituted the largest veterinary medicine vaccines supplier to Azerbaijan, with a 24% share of total imports. Moreover, veterinary medicine vaccines imports from Russia exceeded the figures recorded by the second-largest supplier, Italy (X tons), twofold. The third position in this ranking was taken by Turkey (X tons), with a 10% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Russia totaled -11.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+41.2% per year) and Turkey (+16.1% per year).

In value terms, Turkey ($X), France ($X) and Israel ($X) constituted the largest veterinary medicine vaccines suppliers to Azerbaijan, together comprising 37% of total imports. These countries were followed by the Netherlands, Italy, Lithuania, Russia, Spain, the United States, Jordan, Austria, Ireland and Ukraine, which together accounted for a further 35%.

Austria, with a CAGR of +48.4%, saw the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average veterinary medicine vaccines import price stood at $X per ton in 2021, falling by -17% against the previous year. Overall, import price indicated a moderate increase from 2012 to 2021: its price increased at an average annual rate of +4.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, veterinary medicine vaccines import price increased by +23.9% against 2015 indices. The most prominent rate of growth was recorded in 2019 when the average import price increased by 34%. Over the period under review, average import prices hit record highs at $X per ton in 2020, and then dropped remarkably in the following year.

Prices varied noticeably country of origin: the country with the highest price was Lithuania ($X per ton), while the price for Ukraine ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Israel (+25.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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