Hong Kong SAR, China: Vaccine Market 2024

Vaccine Market Size in Hong Kong SAR, China

The Hong Kong vaccine market totaled $X in 2022, picking up by 10% against the previous year. Over the period under review, consumption enjoyed a resilient expansion. Vaccine consumption peaked at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Vaccine Production in Hong Kong SAR, China

In value terms, vaccine production skyrocketed to $X in 2022 estimated in export price. In general, production posted a buoyant expansion. The pace of growth was the most pronounced in 2017 with an increase of 519% against the previous year. Over the period under review, production attained the peak level at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Vaccine Exports

Exports from Hong Kong SAR, China

Vaccine exports from Hong Kong SAR skyrocketed to X tons in 2022, growing by 19% on the previous year's figure. Overall, exports saw a buoyant increase. The most prominent rate of growth was recorded in 2019 with an increase of 516% against the previous year. The exports peaked at X tons in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

In value terms, vaccine exports expanded significantly to $X in 2022. Over the period under review, exports showed a prominent expansion. The growth pace was the most rapid in 2019 with an increase of 1,433% against the previous year. As a result, the exports reached the peak of $X. From 2020 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Macao SAR (X tons) was the main destination for vaccine exports from Hong Kong SAR, with a 93% share of total exports. Moreover, vaccine exports to Macao SAR exceeded the volume sent to the second major destination, China (X tons), more than tenfold.

From 2012 to 2022, the average annual growth rate of volume to Macao SAR amounted to +17.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (+111.3% per year) and Japan (-11.8% per year).

In value terms, Macao SAR ($X) remains the key foreign market for vaccines for human medicine exports from Hong Kong SAR, comprising 93% of total exports. The second position in the ranking was taken by China ($X), with a 3.6% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Macao SAR stood at +23.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (+118.7% per year) and Japan (-8.0% per year).

Export Prices by Country

In 2022, the average vaccine export price amounted to $X per ton, declining by -7% against the previous year. Over the period under review, the export price, however, posted a noticeable expansion. The most prominent rate of growth was recorded in 2019 when the average export price increased by 149% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2020 to 2022, the average export prices remained at a somewhat lower figure.

Average prices varied noticeably for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was China ($X per ton), while the average price for exports to Japan ($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 Macao SAR (+4.6%), while the prices for the other major destinations experienced more modest paces of growth.

Vaccine Imports

Imports into Hong Kong SAR, China

In 2022, after two years of decline, there was growth in overseas purchases of vaccines for human medicine, when their volume increased by 2.1% to X tons. Over the period under review, imports showed a measured increase. The most prominent rate of growth was recorded in 2019 when imports increased by 218%. As a result, imports attained the peak of X tons. From 2020 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, vaccine imports shrank to $X in 2022. Overall, imports continue to indicate a strong expansion. The growth pace was the most rapid in 2019 with an increase of 146% against the previous year. As a result, imports attained the peak of $X. From 2020 to 2022, the growth of imports remained at a lower figure.

Imports by Country

In 2022, the Netherlands (X tons) constituted the largest supplier of vaccine to Hong Kong SAR, with a 42% share of total imports. Moreover, vaccine imports from the Netherlands exceeded the figures recorded by the second-largest supplier, Singapore (X tons), threefold. The third position in this ranking was held by Belgium (X tons), with an 11% share.

From 2012 to 2022, the average annual growth rate of volume from the Netherlands totaled +8.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Singapore (+52.5% per year) and Belgium (-4.2% per year).

In value terms, the Netherlands ($X) constituted the largest supplier of vaccines for human medicine to Hong Kong SAR, comprising 42% of total imports. The second position in the ranking was held by Singapore ($X), with a 12% share of total imports. It was followed by Belgium, with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of value from the Netherlands totaled +16.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Singapore (+63.2% per year) and Belgium (+2.6% per year).

Import Prices by Country

The average vaccine import price stood at $X per ton in 2022, dropping by -4.3% against the previous year. Overall, the import price, however, recorded a prominent expansion. The growth pace was the most rapid in 2018 when the average import price increased by 42%. As a result, import price reached the peak level of $X per ton. From 2019 to 2022, the average import prices remained at a lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from the UK ($X per ton) and Germany ($X per ton), while the price for Singapore ($X per ton) and the United States ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the UK (+7.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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