Canada: Vaccine Market 2024

Vaccine Market Size in Canada

The Canadian vaccine market contracted notably to $X in 2022, shrinking by -28.9% against the previous year. Over the period under review, consumption, however, continues to indicate a significant expansion. As a result, consumption reached the peak level of $X, and then dropped rapidly in the following year.

Vaccine Production in Canada

In value terms, vaccine production declined to $X in 2022 estimated in export price. Overall, production, however, enjoyed buoyant growth. The pace of growth appeared the most rapid in 2018 when the production volume increased by 93% against the previous year. Over the period under review, production attained the peak level at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Vaccine Exports

Exports from Canada

In 2022, after two years of growth, there was significant decline in overseas shipments of vaccines for human medicine, when their volume decreased by -30.7% to X tons. In general, exports continue to indicate a drastic downturn. The most prominent rate of growth was recorded in 2014 when exports increased by 16%. Over the period under review, the exports attained the maximum at X tons in 2015; however, from 2016 to 2022, the exports failed to regain momentum.

In value terms, vaccine exports stood at $X in 2022. Over the period under review, exports recorded a slight downturn. The most prominent rate of growth was recorded in 2014 when exports increased by 16% against the previous year. The exports peaked at $X in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

Exports by Country

The United States (X tons) was the main destination for vaccine exports from Canada, accounting for a 77% share of total exports. Moreover, vaccine exports to the United States exceeded the volume sent to the second major destination, Belgium (X tons), tenfold. France (X tons) ranked third in terms of total exports with a 6.6% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United States stood at -6.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Belgium (+26.5% per year) and France (-15.9% per year).

In value terms, the United States ($X) remains the key foreign market for vaccines for human medicine exports from Canada, comprising 78% of total exports. The second position in the ranking was taken by Belgium ($X), with a 7.9% share of total exports. It was followed by France, with a 6.6% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Belgium (+35.4% per year) and France (-10.1% per year).

Export Prices by Country

The average vaccine export price stood at $X per ton in 2022, jumping by 44% against the previous year. Overall, the export price recorded a buoyant increase. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably for the major export markets. In 2022, amid the top suppliers, the countries with the highest prices were France ($X per ton) and the United States ($X per ton), while the average price for exports to Mexico ($X per ton) and Belgium ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to France (+7.0%), while the prices for the other major destinations experienced more modest paces of growth.

Vaccine Imports

Imports into Canada

In 2022, approx. X tons of vaccines for human medicine were imported into Canada; with a decrease of -41.6% compared with 2021 figures. Over the period under review, imports, however, enjoyed prominent growth. The growth pace was the most rapid in 2021 when imports increased by 493% against the previous year. As a result, imports reached the peak of X tons, and then contracted dramatically in the following year.

In value terms, vaccine imports plummeted to $X in 2022. Overall, imports, however, enjoyed a remarkable increase. The pace of growth was the most pronounced in 2021 when imports increased by 490%. As a result, imports reached the peak of $X, and then declined rapidly in the following year.

Imports by Country

In 2022, the United States (X tons) constituted the largest supplier of vaccine to Canada, with a 76% share of total imports. Moreover, vaccine imports from the United States exceeded the figures recorded by the second-largest supplier, Belgium (X tons), sixfold. Switzerland (X tons) ranked third in terms of total imports with a 3.5% share.

From 2012 to 2022, the average annual growth rate of volume from the United States amounted to +18.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Belgium (+4.1% per year) and Switzerland (+38.0% per year).

In value terms, the United States ($X) constituted the largest supplier of vaccines for human medicine to Canada, comprising 76% of total imports. The second position in the ranking was held by Belgium ($X), with a 13% share of total imports. It was followed by Switzerland, with a 3.5% share.

From 2012 to 2022, the average annual rate of growth in terms of value from the United States stood at +27.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Belgium (+11.5% per year) and Switzerland (+47.8% per year).

Import Prices by Country

In 2022, the average vaccine import price amounted to $X per ton, remaining relatively unchanged against the previous year. Overall, the import price saw prominent growth. The most prominent rate of growth was recorded in 2017 an increase of 94%. The import price peaked at $X per ton in 2020; however, from 2021 to 2022, import prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from Sweden ($X per ton) and Italy ($X per ton), while the price for Switzerland ($X per ton) and Ireland ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Ireland (+25.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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