Hungary: Vaccine Market 2025

Vaccine Market Size in Hungary

In 2022, the Hungarian vaccine market decreased by -83.6% to $X for the first time since 2015, thus ending a six-year rising trend. Overall, consumption continues to indicate a slight descent. Over the period under review, the market reached the peak level at $X in 2021, and then contracted rapidly in the following year.

Vaccine Production in Hungary

In value terms, vaccine production expanded slightly to $X in 2022 estimated in export price. In general, production continues to indicate buoyant growth. The most prominent rate of growth was recorded in 2017 with an increase of 15% against the previous year. Vaccine production peaked at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Vaccine Exports

Exports from Hungary

For the third year in a row, Hungary recorded growth in shipments abroad of vaccines for human medicine, which increased by 33% to X tons in 2022. In general, exports showed a significant expansion. The growth pace was the most rapid in 2020 with an increase of 479%. Over the period under review, the exports hit record highs in 2022 and are likely to see gradual growth in the near future.

In value terms, vaccine exports fell to $X in 2022. Overall, exports continue to indicate a prominent increase. The most prominent rate of growth was recorded in 2020 when exports increased by 342% against the previous year. The exports peaked at $X in 2021, and then shrank in the following year.

Exports by Country

Uzbekistan (X tons) was the main destination for vaccine exports from Hungary, accounting for a approx. 100% share of total exports.

From 2012 to 2022, the average annual growth rate of volume to Uzbekistan totaled +8,493.6%.

In value terms, Uzbekistan ($X) emerged as the key foreign market for vaccines for human medicine exports from Hungary.

From 2012 to 2022, the average annual rate of growth in terms of value to Uzbekistan totaled +8,727.3%.

Export Prices by Country

The average vaccine export price stood at $X per ton in 2022, waning by -35.8% against the previous year. Over the period under review, the export price saw a deep setback. The most prominent rate of growth was recorded in 2014 an increase of 140%. Over the period under review, the average export prices attained the peak figure at $X per ton in 2016; however, from 2017 to 2022, the export prices stood at a somewhat lower figure.

As there is only one major export destination, the average price level is determined by prices for Uzbekistan.

From 2012 to 2022, the rate of growth in terms of prices for Romania amounted to +6.6% per year.

Vaccine Imports

Imports into Hungary

In 2021, the amount of vaccines for human medicine imported into Hungary surged to X tons, rising by 250% on the previous year's figure. In general, imports showed significant growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, vaccine imports soared to $X in 2021. Overall, imports posted a significant expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Belgium (X tons) constituted the largest vaccine supplier to Hungary, accounting for a 70% share of total imports. Moreover, vaccine imports from Belgium exceeded the figures recorded by the second-largest supplier, the Netherlands (X tons), sixfold. Russia (X tons) ranked third in terms of total imports with a 9.8% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Belgium amounted to +52.4%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (+28.2% per year) and Russia (+62.0% per year).

In value terms, Belgium ($X) constituted the largest supplier of vaccines for human medicine to Hungary, comprising 38% of total imports. The second position in the ranking was taken by the Netherlands ($X), with a 14% share of total imports. It was followed by Spain, with a 5.8% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Belgium amounted to +38.2%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (+33.2% per year) and Spain (+439.1% per year).

Import Prices by Country

In 2021, the average vaccine import price amounted to $X per ton, dropping by -9.8% against the previous year. Over the period under review, import price indicated a modest expansion from 2012 to 2021: its price increased at an average annual rate of +1.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, vaccine import price increased by +64.2% against 2019 indices. The pace of growth appeared the most rapid in 2020 when the average import price increased by 82%. As a result, import price reached the peak level of $X per ton, and then reduced in the following year.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Spain ($X per ton), while the price for Russia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Spain (+29.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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