Europe: Vaccine Market 2024

Vaccine Market Size in Europe

The Europe vaccine market contracted markedly to $X in 2022, reducing by -38% against the previous year. Overall, consumption, however, saw a strong expansion. As a result, consumption reached the peak level of $X, and then shrank markedly in the following year.

Vaccine Production in Europe

In value terms, vaccine production shrank slightly 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 +5.2% 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 appeared the most rapid in 2018 with an increase of 28% against the previous year. Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Vaccine Exports

Exports in Europe

Vaccine exports declined notably to X tons in 2022, reducing by -33.6% compared with 2021 figures. Overall, exports, however, saw noticeable growth. The growth pace was the most rapid in 2021 when exports increased by 65%. As a result, the exports attained the peak of X tons, and then declined markedly in the following year.

In value terms, vaccine exports dropped sharply to $X in 2022. In general, exports, however, continue to indicate buoyant growth. The pace of growth was the most pronounced in 2021 when exports increased by 80%. As a result, the exports attained the peak of $X, and then shrank significantly 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 committing 87% of total exports. The following exporters - the Netherlands (X tons), the UK (X tons), Italy (X tons) and Austria (X tons) - together made up 9.1% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Austria (with a CAGR of +11.9%), while the other leaders experienced more modest paces of growth.

In value terms, Belgium ($X) remains the largest vaccine supplier in Europe, comprising 57% of total exports. The second position in the ranking was held by France ($X), with a 13% share of total exports. It was followed by Ireland, with a 12% share.

From 2012 to 2022, the average annual growth rate of value in Belgium stood at +17.4%. In the other countries, the average annual rates were as follows: France (+2.4% per year) and Ireland (+3.6% per year).

Export Prices by Country

The export price in Europe stood at $X per ton in 2022, jumping by 16% against the previous year. Export price indicated a prominent expansion from 2012 to 2022: its price increased at an average annual rate of +6.1% 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 +67.6% against 2019 indices. The growth pace was the most rapid in 2013 when the export price increased by 63% against the previous year. The level of export peaked in 2022 and is likely to see steady growth in years to come.

Prices varied noticeably by country of origin: 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 Europe

In 2022, supplies from abroad of vaccines for human medicine decreased by -68.3% to X tons for the first time since 2017, thus ending a four-year rising trend. In general, imports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of 73% against the previous year. As a result, imports reached the peak of X tons, and then contracted remarkably in the following year.

In value terms, vaccine imports shrank rapidly to $X in 2022. Over the period under review, imports, however, continue to indicate a temperate expansion. The growth pace was the most rapid in 2021 when imports increased by 143%. As a result, imports attained the peak of $X, and then shrank rapidly in the following year.

Imports by Country

In 2022, France (X tons), the UK (X tons), the Netherlands (X tons) and Germany (X tons) was the main importer of vaccines for human medicine in Europe, generating 75% of total import. Ireland (X tons), Poland (X tons), Portugal (X tons), Switzerland (X tons), Denmark (X tons) and Sweden (X tons) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Ireland (with a CAGR of +18.7%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), the UK ($X) and France ($X) were the countries with the highest levels of imports in 2022, with a combined 62% share of total imports. The Netherlands, Poland, Switzerland, Ireland, Portugal, Sweden and Denmark lagged somewhat behind, together accounting for a further 27%.

In terms of the main importing countries, Switzerland, with a CAGR of +22.7%, saw the highest growth rate of 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

In 2022, the import price in Europe amounted to $X per ton, with an increase of 31% against the previous year. Import price indicated a tangible increase from 2012 to 2022: its price increased at an average annual rate of +3.3% 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 +83.6% against 2020 indices. The pace of growth was the most pronounced in 2021 when the import price increased by 40%. Over the period under review, import prices hit record highs in 2022 and is expected to retain 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 ($X per ton), while Denmark ($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