Bulgaria: Veterinary Medicine Vaccines Market 2024

Veterinary Medicine Vaccines Market Size in Bulgaria

In 2021, the Bulgarian veterinary medicine vaccines market decreased by -16.5% to $X, falling for the second consecutive year after four years of growth. Over the period under review, the total consumption indicated a prominent increase from 2012 to 2021: its value increased at an average annual rate of +5.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -28.4% against 2019 indices. Over the period under review, the market hit record highs at $X in 2019; however, from 2020 to 2021, consumption stood at a somewhat lower figure.

Veterinary Medicine Vaccines Exports

Exports from Bulgaria

In 2021, exports of vaccines for veterinary medicine from Bulgaria dropped notably to X tons, with a decrease of -51.4% on 2020 figures. In general, exports, however, showed a significant expansion. The most prominent rate of growth was recorded in 2020 with an increase of 2,169% against the previous year. As a result, the exports attained the peak of X tons, and then contracted notably in the following year.

In value terms, veterinary medicine vaccines exports rose markedly to $X in 2021. Over the period under review, exports, however, posted a significant expansion. The growth pace was the most rapid in 2020 with an increase of 879%. Over the period under review, the exports attained the maximum in 2021 and are likely to continue growth in the near future.

Exports by Country

Serbia (X kg) was the main destination for veterinary medicine vaccines exports from Bulgaria, with a 50% share of total exports. Moreover, veterinary medicine vaccines exports to Serbia exceeded the volume sent to the second major destination, the United Arab Emirates (X kg), fourfold. Romania (X kg) ranked third in terms of total exports with a 7.8% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Serbia amounted to +12.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (+86.4% per year) and Romania (+30.2% per year).

In value terms, Serbia ($X), Romania ($X) and Spain ($X) appeared to be the largest markets for veterinary medicine vaccines exported from Bulgaria worldwide, with a combined 50% share of total exports. These countries were followed by Germany, Belgium, France, the United Arab Emirates, the Czech Republic, Albania, Bosnia and Herzegovina and North Macedonia, which together accounted for a further 44%.

Albania, with a CAGR of +374.8%, 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, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average veterinary medicine vaccines export price amounted to $X per ton, jumping by 117% against the previous year. Overall, the export price saw a prominent expansion. The growth pace was the most rapid in 2019 an increase of 140% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2020 to 2021, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major export markets. In 2021, the country with the highest price was Germany ($X per ton), while the average price for exports to North Macedonia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Bosnia and Herzegovina (+69.4%), while the prices for the other major destinations experienced more modest paces of growth.

Veterinary Medicine Vaccines Imports

Imports into Bulgaria

In 2021, overseas purchases of vaccines for veterinary medicine decreased by -48.1% to X tons, falling for the second year in a row after two years of growth. Overall, imports showed a pronounced decline. The most prominent rate of growth was recorded in 2013 when imports increased by 17%. Imports peaked at X tons in 2019; however, from 2020 to 2021, imports failed to regain momentum.

In value terms, veterinary medicine vaccines imports rose sharply to $X in 2021. In general, imports, however, saw a resilient expansion. The pace of growth appeared the most rapid in 2013 with an increase of 50% against the previous year. Over the period under review, imports reached the peak figure at $X in 2019; however, from 2020 to 2021, imports remained at a lower figure.

Imports by Country

The Czech Republic (X tons), France (X tons) and Austria (X tons) were the main suppliers of veterinary medicine vaccines imports to Bulgaria, together comprising 63% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Austria (with a CAGR of +47.4%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Austria ($X) constituted the largest supplier of vaccines for veterinary medicine to Bulgaria, comprising 46% of total imports. The second position in the ranking was held by France ($X), with a 12% share of total imports. It was followed by Germany, with a 9.1% share.

From 2012 to 2021, the average annual growth rate of value from Austria stood at +42.7%. The remaining supplying countries recorded the following average annual rates of imports growth: France (+2.3% per year) and Germany (+25.5% per year).

Import Prices by Country

The average veterinary medicine vaccines import price stood at $X per ton in 2021, growing by 105% against the previous year. Overall, the import price posted a prominent expansion. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Hungary (+14.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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