Bangladesh: Vaccine Market 2024

Vaccine Market Size in Bangladesh

The Bangladeshi vaccine market shrank to $X in 2022, reducing by -8.7% 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). Over the period under review, consumption showed a relatively flat trend pattern. Vaccine consumption peaked at $X in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Vaccine Exports

Exports from Bangladesh

After two years of growth, overseas shipments of vaccines for human medicine decreased by -27.7% to X tons in 2022. Over the period under review, exports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when exports increased by 303% against the previous year. As a result, the exports attained the peak of X tons, and then fell markedly in the following year.

In value terms, vaccine exports shrank rapidly to $X in 2022. In general, exports showed a deep downturn. The most prominent rate of growth was recorded in 2021 when exports increased by 407%. The exports peaked at $X in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

Exports by Country

Myanmar (X tons) was the main destination for vaccine exports from Bangladesh, with a 72% share of total exports. Moreover, vaccine exports to Myanmar exceeded the volume sent to the second major destination, India (X tons), threefold. The third position in this ranking was held by Tanzania (X kg), with a 4.3% share.

From 2012 to 2022, the average annual growth rate of volume to Myanmar stood at +3.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: India (+103.0% per year) and Tanzania (+50.8% per year).

In value terms, India ($X) remains the key foreign market for vaccines for human medicine exports from Bangladesh, comprising 83% of total exports. The second position in the ranking was held by Myanmar ($X), with an 8.6% share of total exports. It was followed by Guatemala, with a 4.1% share.

From 2012 to 2022, the average annual rate of growth in terms of value to India stood at +167.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Myanmar (-15.0% per year) and Guatemala (-18.6% per year).

Export Prices by Country

In 2022, the average vaccine export price amounted to $X per ton, declining by -17.2% against the previous year. In general, the export price recorded a deep slump. The growth pace was the most rapid in 2015 when the average export price increased by 41% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2016 to 2022, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was India ($X per ton), while the average price for exports to Myanmar ($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 India (+31.7%), while the prices for the other major destinations experienced mixed trend patterns.

Vaccine Imports

Imports into Bangladesh

In 2022, purchases abroad of vaccines for human medicine decreased by -21.3% to X tons, falling for the second year in a row after two years of growth. In general, imports saw a abrupt descent. The pace of growth was the most pronounced in 2015 when imports increased by 90% against the previous year. As a result, imports attained the peak of X tons. From 2016 to 2022, the growth of imports failed to regain momentum.

In value terms, vaccine imports contracted slightly to $X in 2022. Over the period under review, imports, however, recorded resilient growth. The pace of growth was the most pronounced in 2015 with an increase of 208% against the previous year. Over the period under review, imports attained the peak figure at $X in 2019; however, from 2020 to 2022, imports remained at a lower figure.

Imports by Country

India (X tons), the United States (X tons) and China (X tons) were the main suppliers of vaccine imports to Bangladesh, together comprising 87% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by China (with a CAGR of +57.7%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X) constituted the largest supplier of vaccines for human medicine to Bangladesh, comprising 69% of total imports. The second position in the ranking was taken by the United States ($X), with a 17% share of total imports. It was followed by India, with a 7.9% share.

From 2012 to 2022, the average annual growth rate of value from China stood at +60.8%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+46.8% per year) and India (-3.3% per year).

Import Prices by Country

The average vaccine import price stood at $X per ton in 2022, growing by 22% against the previous year. Overall, the import price showed prominent growth. The growth pace was the most rapid in 2021 an increase of 91%. Over the period under review, average import prices attained the maximum in 2022 and is likely to continue growth in the near future.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was China ($X per ton), while the price for Bulgaria ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Switzerland (+15.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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