EU: Vaccine Market 2024

Vaccine Market Size in the EU

In 2022, the EU vaccine market decreased by -42% to $X for the first time since 2019, thus ending a two-year rising trend. In general, consumption, however, showed buoyant growth. As a result, consumption reached the peak level of $X, and then fell remarkably in the following year.

Vaccine Production in the EU

In value terms, vaccine production shrank modestly to $X in 2022 estimated in export price. The total production indicated a buoyant increase from 2012 to 2022: its value increased at an average annual rate of +5.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +3.6% against 2020 indices. The pace of growth was the most pronounced in 2018 with an increase of 28%. The level of production peaked at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Vaccine Exports

Exports in the EU

Vaccine exports fell remarkably to X tons in 2022, shrinking by -34% compared with 2021 figures. In general, exports, however, enjoyed tangible growth. The pace of growth appeared the most rapid in 2021 with an increase of 67% against the previous year. As a result, the exports attained the peak of X tons, and then reduced remarkably in the following year.

In value terms, vaccine exports contracted notably to $X in 2022. Overall, exports, however, posted resilient growth. The pace of growth was the most pronounced in 2021 when exports increased by 84%. As a result, the exports attained the peak of $X, and then shrank dramatically in the following year.

Exports by Country

In 2022, Ireland (X tons), distantly followed by Belgium (X tons) and France (X tons) represented the major exporters of vaccines for human medicine, together generating 89% of total exports. The Netherlands (X tons), Italy (X tons) and Austria (X tons) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Austria (with a CAGR of +11.9%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Belgium ($X) remains the largest vaccine supplier in the European Union, comprising 59% of total exports. The second position in the ranking was held by France ($X), with a 13% share of total exports. It was followed by Ireland, with a 12% share.

In Belgium, vaccine exports increased at an average annual rate of +17.4% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: France (+2.4% per year) and Ireland (+3.6% per year).

Export Prices by Country

In 2022, the export price in the European Union amounted to $X per ton, picking up by 16% against the previous year. Export price indicated buoyant growth from 2012 to 2022: its price increased at an average annual rate of +6.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, vaccine export price increased by +85.7% against 2015 indices. The pace of growth was the most pronounced in 2013 an increase of 67% against the previous year. The level of export peaked in 2022 and is expected to retain growth in the immediate term.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Italy ($X per ton), while Ireland ($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 (+12.9%), while the other leaders experienced more modest paces of growth.

Vaccine Imports

Imports in the EU

After four years of growth, overseas purchases of vaccines for human medicine decreased by -72.9% to X tons in 2022. In general, imports recorded a mild descent. The most prominent rate of growth was recorded in 2021 with an increase of 75% against the previous year. As a result, imports attained the peak of X tons, and then declined dramatically in the following year.

In value terms, vaccine imports contracted remarkably to $X in 2022. Overall, imports, however, continue to indicate a slight increase. The pace of growth appeared the most rapid in 2021 when imports increased by 145%. As a result, imports attained the peak of $X, and then reduced sharply in the following year.

Imports by Country

In 2022, France (X tons), distantly followed by the Netherlands (X tons), Germany (X tons) and Ireland (X tons) were the main importers of vaccines for human medicine, together committing 80% of total imports. Poland (X tons), Portugal (X tons) and Denmark (X tons) held a relatively small share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Ireland (with a CAGR of +18.7%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X) constitutes the largest market for imported vaccines for human medicine in the European Union, comprising 43% of total imports. The second position in the ranking was held by France ($X), with a 17% share of total imports. It was followed by the Netherlands, with a 15% share.

In Germany, vaccine imports expanded at an average annual rate of +18.3% over the period from 2012-2022. In the other countries, the average annual rates were as follows: France (+2.9% per year) and the Netherlands (+19.6% per year).

Import Prices by Country

The import price in the European Union stood at $X per ton in 2022, picking up by 35% against the previous year. Import price indicated moderate growth from 2012 to 2022: its price increased at an average annual rate of +3.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, vaccine import price increased by +89.0% against 2020 indices. The pace of growth was the most pronounced in 2021 when the import price increased by 40% against the previous year. Over the period under review, import prices hit record highs in 2022 and is expected to retain growth in the near future.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Poland ($X per ton), while Denmark ($X per ton) 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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