Croatia: Vaccine Market 2024

Vaccine Market Size in Croatia

In 2022, after three years of growth, there was significant decline in the Croatian vaccine market, when its value decreased by -26.8% to $X. Overall, consumption, however, posted notable growth. As a result, consumption reached the peak level of $X, and then declined rapidly in the following year.

Vaccine Production in Croatia

In value terms, vaccine production stood at $X in 2022 estimated in export price. The total output value increased at an average annual rate of +2.9% over the period from 2012 to 2022; however, the trend pattern remained consistent, with somewhat noticeable fluctuations in certain years. The growth pace was the most rapid in 2013 with an increase of 32% against the previous year. Over the period under review, production hit record highs at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Vaccine Exports

Exports from Croatia

In 2021, approx. X kg of vaccines for human medicine were exported from Croatia; growing by 39% against 2020. Over the period under review, exports, however, faced a precipitous decrease. The pace of growth appeared the most rapid in 2019 when exports increased by 251% against the previous year. Over the period under review, the exports hit record highs at X tons in 2014; however, from 2015 to 2021, the exports remained at a lower figure.

In value terms, vaccine exports soared to $X in 2021. In general, exports, however, recorded a abrupt shrinkage. The growth pace was the most rapid in 2014 with an increase of 75% against the previous year. As a result, the exports attained the peak of $X. From 2015 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

Bosnia and Herzegovina (X kg) was the main destination for vaccine exports from Croatia, with a 61% share of total exports. Moreover, vaccine exports to Bosnia and Herzegovina exceeded the volume sent to the second major destination, Vietnam (X kg), fourfold. North Macedonia (X kg) ranked third in terms of total exports with an 8.7% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Bosnia and Herzegovina stood at +20.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Vietnam (-26.7% per year) and North Macedonia (0.0% per year).

In value terms, Bosnia and Herzegovina ($X) remains the key foreign market for vaccines for human medicine exports from Croatia, comprising 60% of total exports. The second position in the ranking was held by Vietnam ($X), with a 17% share of total exports. It was followed by Albania, with an 8.6% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Bosnia and Herzegovina totaled +33.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Vietnam (-4.3% per year) and Albania (0.0% per year).

Export Prices by Country

The average vaccine export price stood at $X per ton in 2021, dropping by -15.7% against the previous year. In general, the export price, however, enjoyed a significant expansion. The pace of growth appeared the most rapid in 2020 when the average export price increased by 173%. Over the period under review, the average export prices attained the maximum at $X per ton in 2018; however, from 2019 to 2021, the export prices stood at a somewhat lower figure.

Average prices varied somewhat for the major overseas markets. In 2021, amid the top suppliers, the countries with the highest prices were Albania ($X per ton) and Vietnam ($X per ton), while the average price for exports to Montenegro ($X per ton) and Serbia ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Turkey (+40.5%), while the prices for the other major destinations experienced more modest paces of growth.

Vaccine Imports

Imports into Croatia

After four years of growth, purchases abroad of vaccines for human medicine decreased by -17.7% to X tons in 2022. Over the period under review, imports, however, saw a buoyant increase. The pace of growth was the most pronounced in 2021 with an increase of 69% against the previous year. As a result, imports attained the peak of X tons, and then dropped sharply in the following year.

In value terms, vaccine imports reduced markedly to $X in 2022. In general, imports, however, continue to indicate buoyant growth. The most prominent rate of growth was recorded in 2021 with an increase of 395%. As a result, imports reached the peak of $X, and then contracted markedly in the following year.

Imports by Country

France (X tons), Belgium (X tons) and Hungary (X tons) were the main suppliers of vaccine imports to Croatia, with a combined 81% share of total imports. Italy and the Netherlands lagged somewhat behind, together comprising a further 19%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Italy (with a CAGR of +55.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Belgium ($X) constituted the largest supplier of vaccines for human medicine to Croatia, comprising 57% of total imports. The second position in the ranking was taken by France ($X), with a 20% share of total imports. It was followed by Italy, with a 12% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Belgium totaled +29.8%. The remaining supplying countries recorded the following average annual rates of imports growth: France (+52.4% per year) and Italy (+59.4% per year).

Import Prices by Country

In 2022, the average vaccine import price amounted to $X per kg, dropping by -27% against the previous year. Overall, the import price, however, enjoyed strong growth. The pace of growth appeared the most rapid in 2021 when the average import price increased by 193%. As a result, import price reached the peak level of $X per kg, and then fell markedly in the following year.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Belgium (+23.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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