GCC: Veterinary Medicine Vaccines Market 2024

Veterinary Medicine Vaccines Market Size in GCC

The GCC veterinary medicine vaccines market stood at $X in 2021, rising by 3.8% against the previous year. The market value increased at an average annual rate of +2.7% from 2012 to 2021; however, the trend pattern remained relatively stable, with only minor fluctuations being recorded in certain years. As a result, consumption reached the peak level of $X. From 2016 to 2021, the growth of the market failed to regain momentum.

Veterinary Medicine Vaccines Production in GCC

In value terms, veterinary medicine vaccines production shrank to $X in 2021 estimated in export price. Over the period under review, production, however, recorded a slight expansion. The pace of growth was the most pronounced in 2015 when the production volume increased by 128% against the previous year. Over the period under review, production reached the peak level at $X in 2018; however, from 2019 to 2021, production stood at a somewhat lower figure.

Veterinary Medicine Vaccines Exports

Exports in GCC

In 2021, the amount of vaccines for veterinary medicine exported in GCC rose rapidly to X tons, with an increase of 12% against 2020 figures. Over the period under review, exports enjoyed a strong increase. The pace of growth was the most pronounced in 2018 when exports increased by 70% against the previous year. As a result, the exports attained the peak of X tons. From 2019 to 2021, the growth of the exports remained at a lower figure.

In value terms, veterinary medicine vaccines exports fell to $X in 2021. Overall, exports continue to indicate a prominent increase. The most prominent rate of growth was recorded in 2015 when exports increased by 92% against the previous year. The level of export peaked at $X in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

In 2021, Saudi Arabia (X tons) represented the key exporter of vaccines for veterinary medicine, creating 74% of total exports. It was distantly followed by the United Arab Emirates (X tons), making up a 20% share of total exports. Oman (X tons) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to veterinary medicine vaccines exports from Saudi Arabia stood at +14.3%. At the same time, Oman (+45.0%) and the United Arab Emirates (+7.0%) displayed positive paces of growth. Moreover, Oman emerged as the fastest-growing exporter exported in GCC, with a CAGR of +45.0% from 2012-2021. Saudi Arabia (+7.5 p.p.) and Oman (+3.3 p.p.) significantly strengthened its position in terms of the total exports, while the United Arab Emirates saw its share reduced by -12.4% from 2012 to 2021, respectively.

In value terms, the largest veterinary medicine vaccines supplying countries in GCC were the United Arab Emirates ($X), Saudi Arabia ($X) and Oman ($X), with a combined 91% share of total exports.

In terms of the main exporting countries, Oman, with a CAGR of +45.1%, recorded 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 GCC amounted to $X per ton, shrinking by -18.3% against the previous year. Over the period under review, the export price showed a noticeable slump. The most prominent rate of growth was recorded in 2015 an increase of 129% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2016 to 2021, the export prices failed to regain momentum.

Prices varied noticeably country of origin: the country with the highest price was Oman ($X per ton), while Saudi Arabia ($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 Arab Emirates (+3.1%), while the other leaders experienced mixed trends in the export price figures.

Veterinary Medicine Vaccines Imports

Imports in GCC

Veterinary medicine vaccines imports fell to X tons in 2021, shrinking by -2.9% compared with the year before. Overall, imports saw a slight slump. The growth pace was the most rapid in 2013 when imports increased by 35% against the previous year. As a result, imports attained the peak of X tons. From 2014 to 2021, the growth of imports failed to regain momentum.

In value terms, veterinary medicine vaccines imports rose rapidly to $X in 2021. The total import value increased at an average annual rate of +6.3% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2013 with an increase of 53%. The level of import peaked in 2021 and is expected to retain growth in the near future.

Imports by Country

In 2021, Saudi Arabia (X tons) was the largest importer of vaccines for veterinary medicine, creating 69% of total imports. The United Arab Emirates (X tons) took a 14% share (based on physical terms) of total imports, which put it in second place, followed by Qatar (4.9%) and Kuwait (4.6%). The following importers - Oman (X tons) and Bahrain (X tons) - together made up 7.8% of total imports.

Imports into Saudi Arabia decreased at an average annual rate of -3.4% from 2012 to 2021. At the same time, the United Arab Emirates (+10.7%), Bahrain (+6.6%), Kuwait (+6.2%) and Qatar (+3.1%) displayed positive paces of growth. Moreover, the United Arab Emirates emerged as the fastest-growing importer imported in GCC, with a CAGR of +10.7% from 2012-2021. Oman experienced a relatively flat trend pattern. From 2012 to 2021, the share of the United Arab Emirates, Kuwait, Bahrain and Qatar increased by +8.7, +2.2, +1.7 and +1.6 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Saudi Arabia ($X) constitutes the largest market for imported vaccines for veterinary medicine in GCC, comprising 69% of total imports. The second position in the ranking was taken by the United Arab Emirates ($X), with a 13% share of total imports. It was followed by Kuwait, with a 6.5% share.

From 2012 to 2021, the average annual growth rate of value in Saudi Arabia stood at +5.5%. The remaining importing countries recorded the following average annual rates of imports growth: the United Arab Emirates (+7.8% per year) and Kuwait (+5.0% per year).

Import Prices by Country

In 2021, the import price in GCC amounted to $X per ton, surging by 12% against the previous year. Import price indicated a strong increase from 2012 to 2021: its price increased at an average annual rate of +7.6% 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 +73.6% against 2016 indices. The growth pace was the most rapid in 2017 an increase of 26%. 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 Kuwait ($X per ton), while Bahrain ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Oman (+14.2%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform