China: Vaccine Market 2024

Vaccine Market Size in China

The Chinese vaccine market rose notably to $X in 2022, with an increase of 7% against the previous year. Over the period under review, consumption enjoyed prominent growth. Over the period under review, the market reached the maximum level at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Vaccine Production in China

In value terms, vaccine production amounted to $X in 2022 estimated in export price. Overall, production saw a resilient expansion. The most prominent rate of growth was recorded in 2019 when the production volume increased by 61%. Vaccine production peaked at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Vaccine Exports

Exports from China

In 2022, vaccine exports from China skyrocketed to X tons, jumping by 17% compared with the previous year's figure. Overall, exports enjoyed strong growth. The growth pace was the most rapid in 2013 when exports increased by 127%. The exports peaked at X tons in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

In value terms, vaccine exports soared to $X in 2022. Over the period under review, exports continue to indicate significant growth. The pace of growth appeared the most rapid in 2020 when exports increased by 171%. As a result, the exports attained the peak of $X. From 2021 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Indonesia (X tons), Pakistan (X tons) and Bangladesh (X tons) were the main destinations of vaccine exports from China, with a combined 59% share of total exports. Uzbekistan, Cambodia, Sri Lanka, Myanmar, Egypt, Thailand, Zimbabwe, Vietnam, the Philippines and Nepal lagged somewhat behind, together comprising a further 34%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Zimbabwe (with a CAGR of +977.2%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for vaccine exported from China were Indonesia ($X), Pakistan ($X) and Bangladesh ($X), together comprising 55% of total exports. The Philippines, Thailand, Egypt, Vietnam, Cambodia, Myanmar, Sri Lanka, Uzbekistan, Nepal and Zimbabwe lagged somewhat behind, together comprising a further 41%.

Zimbabwe, with a CAGR of +1,671.2%, saw the highest growth rate of 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

The average vaccine export price stood at $X per ton in 2022, rising by 13% against the previous year. Over the period under review, the export price recorded a prominent increase. The pace of growth was the most pronounced in 2020 when the average export price increased by 32% against the previous year. Over the period under review, the average export prices attained the peak figure in 2022 and is expected to retain growth in the immediate term.

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 the Philippines ($X per ton), while the average price for exports to Uzbekistan ($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 Zimbabwe (+64.4%), while the prices for the other major destinations experienced more modest paces of growth.

Vaccine Imports

Imports into China

In 2022, after three years of growth, there was decline in overseas purchases of vaccines for human medicine, when their volume decreased by -1.3% to X tons. Overall, imports, however, showed a resilient expansion. The pace of growth was the most pronounced in 2020 when imports increased by 144%. Imports peaked at X tons in 2021, and then dropped modestly in the following year.

In value terms, vaccine imports shrank modestly to $X in 2022. In general, imports, however, continue to indicate a significant increase. The most prominent rate of growth was recorded in 2019 when imports increased by 262% against the previous year. Imports peaked at $X in 2021, and then shrank slightly in the following year.

Imports by Country

The United States (X tons), Belgium (X tons) and France (X tons) were the main suppliers of vaccine imports to China, with a combined 35% share of total imports.

From 2012 to 2022, the biggest increases were recorded for the United States (with a CAGR of +108.7%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Belgium ($X), France ($X) and the UK ($X) constituted the largest vaccine suppliers to China, with a combined 26% share of total imports. The United States, Switzerland and Taiwan (Chinese) lagged somewhat behind, together accounting for a further 1.9%.

Among the main suppliers, the United States, with a CAGR of +93.1%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average vaccine import price amounted to $X per kg, remaining constant against the previous year. Over the period under review, the import price, however, enjoyed a strong increase. The growth pace was the most rapid in 2019 when the average import price increased by 57%. As a result, import price reached the peak level of $X per kg. From 2020 to 2022, the average import prices remained at a lower figure.

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 France ($X per kg), while the price for the United States ($X per kg) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Australia (+29.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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