Dominican Republic: Veterinary Medicine Vaccines Market 2024

Veterinary Medicine Vaccines Market Size in the Dominican Republic

The Dominican veterinary medicine vaccines market soared to $X in 2021, rising by 15% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption recorded a resilient expansion. Over the period under review, the market reached the peak level in 2021 and is expected to retain growth in years to come.

Veterinary Medicine Vaccines Exports

Exports from the Dominican Republic

For the third year in a row, the Dominican Republic recorded growth in shipments abroad of vaccines for veterinary medicine, which increased by 131% to X kg in 2021. Overall, exports, however, recorded a drastic downturn. The pace of growth was the most pronounced in 2019 with an increase of 150% against the previous year. The exports peaked at X kg in 2013; however, from 2014 to 2021, the exports failed to regain momentum.

In value terms, veterinary medicine vaccines exports skyrocketed to $X in 2021. Over the period under review, exports, however, showed a abrupt descent. Over the period under review, the exports attained the peak figure at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

The United States (X kg), Haiti (X kg) and Ghana (X kg) were the main destinations of veterinary medicine vaccines exports from the Dominican Republic.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Haiti (with a CAGR of +22.0%), while the other leaders experienced a decline.

In value terms, Ghana ($X) remains the key foreign market for vaccines for veterinary medicine exports from the Dominican Republic, comprising 60% of total exports. The second position in the ranking was held by Haiti ($X), with an 18% share of total exports. It was followed by Guatemala, with a 13% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Ghana was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Haiti (+27.2% per year) and Guatemala (-23.8% per year).

Export Prices by Country

The average veterinary medicine vaccines export price stood at $X per ton in 2021, with a decrease of -10.2% against the previous year. Over the period under review, the export price saw a noticeable shrinkage. The pace of growth was the most pronounced in 2018 an increase of 146%. As a result, the export price reached the peak level of $X per ton. From 2019 to 2021, the average export prices remained at a lower figure.

Prices varied noticeably country of destination: the country with the highest price was Guatemala ($X per ton), while the average price for exports to the United States ($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 Ghana (+22.1%), while the prices for the other major destinations experienced more modest paces of growth.

Veterinary Medicine Vaccines Imports

Imports into the Dominican Republic

In 2021, purchases abroad of vaccines for veterinary medicine increased by 20% to X tons, rising for the sixth year in a row after three years of decline. In general, imports posted a remarkable increase. The most prominent rate of growth was recorded in 2019 with an increase of 31%. Imports peaked in 2021 and are expected to retain growth in the near future.

In value terms, veterinary medicine vaccines imports stood at $X in 2021. Overall, imports continue to indicate a prominent increase. The pace of growth appeared the most rapid in 2016 when imports increased by 67%. Imports peaked in 2021 and are expected to retain growth in the near future.

Imports by Country

The United States (X tons), Mexico (X tons) and Spain (X tons) were the main suppliers of veterinary medicine vaccines imports to the Dominican Republic, together accounting for 44% of total imports. These countries were followed by Brazil, the UK, Hungary, Italy, France, the Netherlands and Panama, which together accounted for a further 36%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Brazil (with a CAGR of +46.1%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) constituted the largest supplier of vaccines for veterinary medicine to the Dominican Republic, comprising 41% of total imports. The second position in the ranking was held by Spain ($X), with a 9.7% share of total imports. It was followed by Mexico, with a 9.4% share.

From 2012 to 2021, the average annual rate of growth in terms of value from the United States totaled +8.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (+31.2% per year) and Mexico (+18.5% per year).

Import Prices by Country

The average veterinary medicine vaccines import price stood at $X per ton in 2021, reducing by -5.6% against the previous year. Over the period under review, import price indicated measured growth from 2012 to 2021: its price increased at an average annual rate of +4.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, veterinary medicine vaccines import price decreased by -35.7% against 2016 indices. The most prominent rate of growth was recorded in 2013 an increase of 55%. The import price peaked at $X per ton in 2016; however, from 2017 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was the United States ($X per ton), while the price for Brazil ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+14.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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