Finland: Vaccine Market 2024

Vaccine Market Size in Finland

In 2022, after two years of decline, there was significant growth in the Finnish vaccine market, when its value increased by 312% to $X. In general, consumption continues to indicate a prominent expansion. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Vaccine Exports

Exports from Finland

In 2022, approx. X kg of vaccines for human medicine were exported from Finland; shrinking by -37.3% against the previous year. Over the period under review, exports, however, posted a buoyant expansion. The pace of growth was the most pronounced in 2016 with an increase of 2,476% against the previous year. As a result, the exports reached the peak of X kg. From 2017 to 2022, the growth of the exports failed to regain momentum.

In value terms, vaccine exports shrank remarkably to $X in 2022. Overall, exports, however, enjoyed a prominent increase. The pace of growth appeared the most rapid in 2016 when exports increased by 1,895%. The exports peaked at $X in 2021, and then contracted markedly in the following year.

Exports by Country

Sweden (X kg), Spain (X kg) and the Netherlands (X kg) were the main destinations of vaccine exports from Finland.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Spain (with a CAGR of +89.9%), while the other leaders experienced more modest paces of growth.

In value terms, Sweden ($X) emerged as the key foreign market for vaccines for human medicine exports from Finland, comprising 81% of total exports. The second position in the ranking was taken by Spain ($X), with a 9.7% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Sweden totaled +20.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Spain (+107.3% per year) and the Netherlands (+66.4% per year).

Export Prices by Country

In 2022, the average vaccine export price amounted to $X per ton, waning by -6.8% against the previous year. In general, the export price showed a perceptible shrinkage. The most prominent rate of growth was recorded in 2021 when the average export price increased by 94%. Over the period under review, the average export prices attained the maximum at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Sweden ($X per ton), while the average price for exports to Spain ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the Netherlands (+41.0%), while the prices for the other major destinations experienced more modest paces of growth.

Vaccine Imports

Imports into Finland

In 2022, purchases abroad of vaccines for human medicine increased by 422% to X tons for the first time since 2019, thus ending a two-year declining trend. In general, imports continue to indicate prominent growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, vaccine imports soared to $X in 2022. Over the period under review, total imports indicated noticeable growth from 2012 to 2022: its value increased at an average annual rate of +2.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -31.7% against 2019 indices. The pace of growth appeared the most rapid in 2013 with an increase of 37% against the previous year. Over the period under review, imports hit record highs at $X in 2019; however, from 2020 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, France (X tons) constituted the largest supplier of vaccine to Finland, accounting for a 68% share of total imports. Moreover, vaccine imports from France exceeded the figures recorded by the second-largest supplier, Poland (X tons), threefold. The third position in this ranking was held by the United States (X tons), with a 7.3% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from France totaled +28.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Poland (+17.4% per year) and the United States (+46.9% per year).

In value terms, the largest vaccine suppliers to Finland were France ($X), Poland ($X) and the United States ($X), together accounting for 80% of total imports.

Among the main suppliers, the United States, with a CAGR of +32.9%, recorded 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

In 2022, the average vaccine import price amounted to $X per ton, shrinking by -76.9% against the previous year. Overall, the import price saw a abrupt downturn. The most prominent rate of growth was recorded in 2021 when the average import price increased by 97% against the previous year. As a result, import price reached the peak level of $X per ton, and then reduced dramatically in the following year.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Belgium ($X per ton), while the price for France ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Belgium (+4.1%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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