Ecuador: Veterinary Medicine Vaccines Market 2024

Veterinary Medicine Vaccines Market Size in Ecuador

In 2021, the Ecuadorian veterinary medicine vaccines market was finally on the rise to reach $X after two years of decline. The market value increased at an average annual rate of +4.4% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Veterinary medicine vaccines consumption peaked at $X in 2018; however, from 2019 to 2021, consumption remained at a lower figure.

Veterinary Medicine Vaccines Exports

Exports from Ecuador

In 2021, overseas shipments of vaccines for veterinary medicine decreased by -44.8% to X tons, falling for the second year in a row after five years of growth. Overall, exports, however, continue to indicate resilient growth. The pace of growth was the most pronounced in 2013 with an increase of 113%. Over the period under review, the exports attained the peak figure at X tons in 2019; however, from 2020 to 2021, the exports remained at a lower figure.

In value terms, veterinary medicine vaccines exports dropped sharply to $X in 2021. In general, exports, however, enjoyed strong growth. The most prominent rate of growth was recorded in 2013 with an increase of 141% against the previous year. The exports peaked at $X in 2020, and then fell remarkably in the following year.

Exports by Country

Colombia (X tons) was the main destination for veterinary medicine vaccines exports from Ecuador, with a 77% share of total exports. Moreover, veterinary medicine vaccines exports to Colombia exceeded the volume sent to the second major destination, Bolivia (X tons), fivefold. The third position in this ranking was held by Bahrain (X kg), with a 4% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Colombia totaled +11.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Bolivia (+7.7% per year) and Bahrain (+52.0% per year).

In value terms, Colombia ($X) remains the key foreign market for vaccines for veterinary medicine exports from Ecuador, comprising 78% of total exports. The second position in the ranking was held by Bolivia ($X), with an 11% share of total exports. It was followed by Bahrain, with a 5.3% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Colombia amounted to +17.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Bolivia (+7.1% per year) and Bahrain (+66.7% per year).

Export Prices by Country

The average veterinary medicine vaccines export price stood at $X per ton in 2021, reducing by -2.3% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +4.7%. The most prominent rate of growth was recorded in 2014 an increase of 18%. The export price peaked at $X per ton in 2020, and then shrank slightly in the following year.

Prices varied noticeably country of destination: the country with the highest price was Costa Rica ($X per ton), while the average price for exports to Bolivia ($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 Sudan (+38.4%), while the prices for the other major destinations experienced more modest paces of growth.

Veterinary Medicine Vaccines Imports

Imports into Ecuador

In 2021, supplies from abroad of vaccines for veterinary medicine decreased by -0.9% to X tons, falling for the third year in a row after three years of growth. Overall, imports saw a noticeable downturn. The pace of growth was the most pronounced in 2016 when imports increased by 16% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2018; however, from 2019 to 2021, imports failed to regain momentum.

In value terms, veterinary medicine vaccines imports skyrocketed to $X in 2021. Over the period under review, total imports indicated a resilient expansion from 2012 to 2021: its value increased at an average annual rate of +7.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2013 with an increase of 20% against the previous year. Over the period under review, imports attained the maximum in 2021 and are expected to retain growth in the immediate term.

Imports by Country

The United States (X tons), Brazil (X tons) and Mexico (X tons) were the main suppliers of veterinary medicine vaccines imports to Ecuador, together comprising 61% of total imports.

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 +17.8%), while imports for the other leaders experienced mixed trend patterns.

In value terms, the United States ($X) constituted the largest supplier of vaccines for veterinary medicine to Ecuador, comprising 50% of total imports. The second position in the ranking was held by the Netherlands ($X), with a 7.4% share of total imports. It was followed by Colombia, with a 6.4% share.

From 2012 to 2021, the average annual rate of growth in terms of value from the United States stood at +11.6%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (+1.7% per year) and Colombia (-8.2% per year).

Import Prices by Country

The average veterinary medicine vaccines import price stood at $X per ton in 2021, jumping by 20% against the previous year. Over the period under review, the import price posted prominent growth. The pace of growth was the most pronounced in 2013 when the average import price increased by 33%. The import price peaked in 2021 and is expected to retain growth in the near future.

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 (+22.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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