ECOWAS: Veterinary Medicine Vaccines Market 2024

Veterinary Medicine Vaccines Market Size in ECOWAS

The ECOWAS veterinary medicine vaccines market expanded rapidly to $X in 2021, growing by 10% against the previous year. In general, consumption enjoyed a buoyant increase. Over the period under review, the market hit record highs in 2021 and is likely to see gradual growth in the immediate term.

Veterinary Medicine Vaccines Production in ECOWAS

In value terms, veterinary medicine vaccines production reduced to $X in 2021 estimated in export price. Over the period under review, production recorded a remarkable increase. The most prominent rate of growth was recorded in 2016 with an increase of 39% against the previous year. Over the period under review, production hit record highs at $X in 2020, and then dropped in the following year.

Veterinary Medicine Vaccines Exports

Exports in ECOWAS

Veterinary medicine vaccines exports soared to X tons in 2021, increasing by 46% on the previous year's figure. Over the period under review, exports recorded a significant expansion. The pace of growth appeared the most rapid in 2017 when exports increased by 111% against the previous year. The volume of export peaked in 2021 and is likely to see gradual growth in the near future.

In value terms, veterinary medicine vaccines exports expanded rapidly to $X in 2021. In general, exports showed significant growth. The pace of growth appeared the most rapid in 2013 with an increase of 93% against the previous year. Over the period under review, the exports attained the peak figure in 2021 and are expected to retain growth in years to come.

Exports by Country

In 2021, Senegal (X tons) represented the key exporter of vaccines for veterinary medicine, constituting 44% of total exports. It was distantly followed by Mali (X tons), Niger (X tons) and Benin (X tons), together committing a 52% share of total exports. Burkina Faso (X kg) followed a long way behind the leaders.

From 2012 to 2021, the biggest increases were recorded for Benin (with a CAGR of +48.2%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Senegal ($X), Mali ($X) and Benin ($X) appeared to be the countries with the highest levels of exports in 2021, with a combined 76% share of total exports.

Among the main exporting countries, Benin, with a CAGR of +60.0%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the export price in ECOWAS amounted to $X per ton, declining by -22.2% against the previous year. In general, the export price continues to indicate a mild downturn. The most prominent rate of growth was recorded in 2019 when the export price increased by 33% against the previous year. Over the period under review, the export prices hit record highs at $X per ton in 2013; however, from 2014 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was Benin ($X per ton), while Senegal ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Benin (+8.0%), while the other leaders experienced mixed trends in the export price figures.

Veterinary Medicine Vaccines Imports

Imports in ECOWAS

In 2021, purchases abroad of vaccines for veterinary medicine increased by 34% to X tons, rising for the second consecutive year after two years of decline. Total imports indicated buoyant growth from 2012 to 2021: its volume increased at an average annual rate of +8.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +40.7% against 2019 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, veterinary medicine vaccines imports soared to $X in 2021. Over the period under review, imports showed prominent growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

The countries with the highest levels of veterinary medicine vaccines imports in 2021 were Cote d'Ivoire (X tons), Burkina Faso (X tons), Senegal (X tons), Mali (X tons), Ghana (X tons), Nigeria (X tons) and Niger (X tons), together amounting to 91% of total import.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Niger (with a CAGR of +31.6%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Cote d'Ivoire ($X), Nigeria ($X) and Ghana ($X) constituted the countries with the highest levels of imports in 2021, together accounting for 54% of total imports. These countries were followed by Mali, Senegal, Burkina Faso and Niger, which together accounted for a further 40%.

Among the main importing countries, Niger, with a CAGR of +34.1%, 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

The import price in ECOWAS stood at $X per ton in 2021, picking up by 2% against the previous year. Import price indicated a strong increase from 2012 to 2021: its price increased at an average annual rate of +5.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, veterinary medicine vaccines import price increased by +18.1% against 2016 indices. The most prominent rate of growth was recorded in 2014 when the import price increased by 16%. Over the period under review, import prices reached the peak figure in 2021 and is expected to retain growth in the immediate term.

Prices varied noticeably country of destination: the country with the highest price was Nigeria ($X per ton), while Burkina Faso ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Nigeria (+12.8%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform