Eastern Europe: Vaccine Market 2024

Vaccine Market Size in Eastern Europe

After four years of growth, the East European vaccine market decreased by -38.2% to $X in 2022. Overall, consumption, however, recorded a resilient expansion. As a result, consumption reached the peak level of $X, and then shrank sharply in the following year.

Vaccine Production in Eastern Europe

In value terms, vaccine production rose modestly to $X in 2022 estimated in export price. Overall, production saw buoyant growth. The growth pace was the most rapid in 2018 with an increase of 106%. The level of production peaked at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Vaccine Exports

Exports in Eastern Europe

In 2022, the amount of vaccines for human medicine exported in Eastern Europe skyrocketed to X tons, with an increase of 22% against the previous year's figure. In general, exports saw a buoyant increase. The pace of growth was the most pronounced in 2017 when exports increased by 157% against the previous year. Over the period under review, the exports reached the maximum at X tons in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

In value terms, vaccine exports declined to $X in 2022. Overall, exports showed a strong expansion. The growth pace was the most rapid in 2017 with an increase of 138%. Over the period under review, the exports hit record highs at $X in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

Exports by Country

Hungary represented the key exporting country with an export of around X tons, which recorded 64% of total exports. It was distantly followed by Russia (X tons) and Bulgaria (X tons), together constituting a 32% share of total exports.

Hungary was also the fastest-growing in terms of the vaccines for human medicine exports, with a CAGR of +25.1% from 2012 to 2022. At the same time, Russia (+14.2%) and Bulgaria (+5.9%) displayed positive paces of growth. While the share of Hungary (+41 p.p.) and Russia (+2.5 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Bulgaria (-8.8 p.p.) displayed negative dynamics.

In value terms, Hungary ($X) remains the largest vaccine supplier in Eastern Europe, comprising 49% of total exports. The second position in the ranking was held by Russia ($X), with a 24% share of total exports.

From 2012 to 2022, the average annual growth rate of value in Hungary amounted to +15.1%. The remaining exporting countries recorded the following average annual rates of exports growth: Russia (+12.9% per year) and Bulgaria (+26.7% per year).

Export Prices by Country

The export price in Eastern Europe stood at $X per ton in 2022, shrinking by -27.6% against the previous year. Over the period under review, the export price showed a perceptible decrease. The pace of growth appeared the most rapid in 2019 when the export price increased by 48%. The level of export peaked at $X per ton in 2020; however, from 2021 to 2022, the export prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Bulgaria ($X per ton), while Hungary ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Bulgaria (+19.7%), while the other leaders experienced a decline in the export price figures.

Vaccine Imports

Imports in Eastern Europe

In 2022, after three years of growth, there was significant decline in purchases abroad of vaccines for human medicine, when their volume decreased by -75.2% to X tons. Overall, imports, however, saw a temperate increase. The most prominent rate of growth was recorded in 2021 with an increase of 242% against the previous year. As a result, imports attained the peak of X tons, and then reduced notably in the following year.

In value terms, vaccine imports fell dramatically to $X in 2022. In general, imports, however, recorded a prominent expansion. The most prominent rate of growth was recorded in 2021 when imports increased by 207%. As a result, imports attained the peak of $X, and then fell markedly in the following year.

Imports by Country

Poland was the key importer of vaccines for human medicine in Eastern Europe, with the volume of imports finishing at X tons, which was near 33% of total imports in 2022. It was distantly followed by Russia (X tons), Romania (X tons), the Czech Republic (X tons), Lithuania (X tons), Slovakia (X tons) and Belarus (X tons), together constituting a 57% share of total imports.

Imports into Poland increased at an average annual rate of +6.7% from 2012 to 2022. At the same time, Lithuania (+16.9%), Slovakia (+9.2%), Romania (+8.3%), the Czech Republic (+5.2%) and Belarus (+2.2%) displayed positive paces of growth. Moreover, Lithuania emerged as the fastest-growing importer imported in Eastern Europe, with a CAGR of +16.9% from 2012-2022. Russia experienced a relatively flat trend pattern. While the share of Poland (+10 p.p.), Romania (+5.5 p.p.), Lithuania (+4.2 p.p.), the Czech Republic (+2.6 p.p.) and Slovakia (+2.6 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Russia (-5 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Poland ($X) constitutes the largest market for imported vaccines for human medicine in Eastern Europe, comprising 49% of total imports. The second position in the ranking was taken by the Czech Republic ($X), with a 13% share of total imports. It was followed by Romania, with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Poland amounted to +22.5%. In the other countries, the average annual rates were as follows: the Czech Republic (+11.1% per year) and Romania (+20.2% per year).

Import Prices by Country

The import price in Eastern Europe stood at $X per kg in 2022, surging by 115% against the previous year. In general, the import price saw prominent growth. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Poland ($X per kg), while Belarus ($X per kg) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Poland (+14.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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