Denmark: Vaccine Market 2024

Vaccine Market Size in Denmark

The Danish vaccine market reduced markedly to $X in 2022, waning by -37.9% against the previous year. Over the period under review, consumption, however, saw resilient growth. As a result, consumption attained the peak level of $X, and then reduced markedly in the following year.

Vaccine Production in Denmark

In value terms, vaccine production expanded sharply to $X in 2022 estimated in export price. Over the period under review, production recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 with an increase of 60% against the previous year. Over the period under review, production hit record highs at $X in 2014; however, from 2015 to 2022, production failed to regain momentum.

Vaccine Exports

Exports from Denmark

In 2022, approx. X tons of vaccines for human medicine were exported from Denmark; falling by -3.7% on 2021 figures. In general, exports recorded a abrupt curtailment. The pace of growth appeared the most rapid in 2020 when exports increased by 51% against the previous year. Over the period under review, the exports attained the maximum at X tons in 2015; however, from 2016 to 2022, the exports stood at a somewhat lower figure.

In value terms, vaccine exports reduced slightly to $X in 2022. Over the period under review, exports recorded a noticeable contraction. The growth pace was the most rapid in 2013 with an increase of 86% against the previous year. As a result, the exports reached the peak of $X. From 2014 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Iceland (X tons), Norway (X tons) and Poland (X tons) were the main destinations of vaccine exports from Denmark, with a combined 53% share of total exports. Greenland, Democratic Republic of the Congo, Faroe Islands, New Zealand, South Sudan, the Czech Republic, Sweden, Spain, Tunisia and South Africa lagged somewhat behind, together accounting for a further 31%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Democratic Republic of the Congo (with a CAGR of +199.3%), while the other leaders experienced more modest paces of growth.

In value terms, New Zealand ($X) remains the key foreign market for vaccines for human medicine exports from Denmark, comprising 22% of total exports. The second position in the ranking was taken by Poland ($X), with a 7.1% share of total exports. It was followed by Sweden, with a 5.7% share.

From 2012 to 2022, the average annual rate of growth in terms of value to New Zealand amounted to +29.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Poland (+207.8% per year) and Sweden (+5.7% per year).

Export Prices by Country

The average vaccine export price stood at $X per ton in 2022, remaining constant against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.5%. The most prominent rate of growth was recorded in 2013 an increase of 29% against the previous year. Over the period under review, the average export prices reached the peak figure at $X per ton in 2014; afterwards, it flattened through to 2022.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was New Zealand ($X per ton), while the average price for exports to Iceland ($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 New Zealand (+37.5%), while the prices for the other major destinations experienced more modest paces of growth.

Vaccine Imports

Imports into Denmark

In 2022, supplies from abroad of vaccines for human medicine decreased by -45.3% to X tons for the first time since 2018, thus ending a three-year rising trend. Overall, imports, however, continue to indicate a resilient expansion. The most prominent rate of growth was recorded in 2013 with an increase of 713%. Over the period under review, imports hit record highs at X tons in 2021, and then shrank notably in the following year.

In value terms, vaccine imports dropped notably to $X in 2022. In general, imports, however, continue to indicate a buoyant increase. The growth pace was the most rapid in 2021 with an increase of 420% against the previous year. As a result, imports attained the peak of $X, and then shrank sharply in the following year.

Imports by Country

In 2022, Belgium (X tons) constituted the largest supplier of vaccine to Denmark, accounting for a 42% share of total imports. Moreover, vaccine imports from Belgium exceeded the figures recorded by the second-largest supplier, France (X tons), twofold. The third position in this ranking was taken by Spain (X tons), with an 8.6% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Belgium amounted to +25.8%. The remaining supplying countries recorded the following average annual rates of imports growth: France (+16.5% per year) and Spain (+66.9% per year).

In value terms, Belgium ($X) constituted the largest supplier of vaccines for human medicine to Denmark, comprising 74% of total imports. The second position in the ranking was taken by Spain ($X), with a 9.7% share of total imports. It was followed by France, with a 4.4% share.

From 2012 to 2022, the average annual growth rate of value from Belgium amounted to +32.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (+52.8% per year) and France (-5.0% per year).

Import Prices by Country

The average vaccine import price stood at $X per ton in 2022, surging by 9% against the previous year. In general, the import price, however, continues to indicate a noticeable slump. The pace of growth was the most pronounced in 2014 an increase of 426%. Over the period under review, average import prices attained the maximum at $X per ton in 2016; however, from 2017 to 2022, import prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (+8.3%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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