Hungary: Veterinary Medicine Vaccines Market 2024

Veterinary Medicine Vaccines Market Size in Hungary

The Hungarian veterinary medicine vaccines market soared to $X in 2021, rising by 18% against the previous year. In general, consumption, however, continues to indicate a relatively flat trend pattern. Over the period under review, the market reached the maximum level at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Veterinary Medicine Vaccines Production in Hungary

In value terms, veterinary medicine vaccines production shrank to $X in 2021 estimated in export price. In general, production enjoyed a strong increase. The most prominent rate of growth was recorded in 2017 when the production volume increased by 16%. Over the period under review, production reached the peak level at $X in 2020, and then shrank in the following year.

Veterinary Medicine Vaccines Exports

Exports from Hungary

In 2021, shipments abroad of vaccines for veterinary medicine decreased by -0.6% to X tons, falling for the second consecutive year after three years of growth. Over the period under review, total exports indicated resilient growth from 2012 to 2021: its volume increased at an average annual rate of +7.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports decreased by -5.5% against 2019 indices. The growth pace was the most rapid in 2014 with an increase of 19%. The exports peaked at X tons in 2019; however, from 2020 to 2021, the exports stood at a somewhat lower figure.

In value terms, veterinary medicine vaccines exports surged to $X in 2021. Overall, exports, however, saw prominent growth. The most prominent rate of growth was recorded in 2018 when exports increased by 22%. The exports peaked in 2021 and are likely to see steady growth in the near future.

Exports by Country

France (X tons) was the main destination for veterinary medicine vaccines exports from Hungary, with a 86% share of total exports. Moreover, veterinary medicine vaccines exports to France exceeded the volume sent to the second major destination, Turkey (X tons), more than tenfold.

From 2012 to 2021, the average annual rate of growth in terms of volume to France stood at +8.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Turkey (+16.9% per year) and Russia (-14.4% per year).

In value terms, France ($X) remains the key foreign market for vaccines for veterinary medicine exports from Hungary, comprising 63% of total exports. The second position in the ranking was held by Russia ($X), with a 5.3% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to France totaled +10.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Russia (-6.1% per year) and Turkey (+35.6% per year).

Export Prices by Country

In 2021, the average veterinary medicine vaccines export price amounted to $X per ton, increasing by 22% against the previous year. Over the last nine years, it increased at an average annual rate of +3.0%. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably country of destination: the country with the highest price was Russia ($X per ton), while the average price for exports to France ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Turkey (+16.0%), while the prices for the other major destinations experienced more modest paces of growth.

Veterinary Medicine Vaccines Imports

Imports into Hungary

In 2021, overseas purchases of vaccines for veterinary medicine increased by 27% to X tons, rising for the second year in a row after four years of decline. Overall, imports, however, saw a abrupt decline. The pace of growth appeared the most rapid in 2020 with an increase of 68% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2013; however, from 2014 to 2021, imports failed to regain momentum.

In value terms, veterinary medicine vaccines imports declined to $X in 2021. In general, imports, however, continue to indicate a perceptible descent. The pace of growth appeared the most rapid in 2020 with an increase of 58%. Imports peaked at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Belgium (X tons) constituted the largest veterinary medicine vaccines supplier to Hungary, with a 53% share of total imports. Moreover, veterinary medicine vaccines imports from Belgium exceeded the figures recorded by the second-largest supplier, France (X tons), fourfold. The Czech Republic (X tons) ranked third in terms of total imports with a 13% share.

From 2012 to 2021, the average annual growth rate of volume from Belgium totaled -11.0%. The remaining supplying countries recorded the following average annual rates of imports growth: France (+5.2% per year) and the Czech Republic (+16.3% per year).

In value terms, the Netherlands ($X), France ($X) and Austria ($X) were the largest veterinary medicine vaccines suppliers to Hungary, with a combined 67% share of total imports. These countries were followed by Belgium, the Czech Republic, Spain and Italy, which together accounted for a further 29%.

The Czech Republic, with a CAGR of +19.1%, recorded the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average veterinary medicine vaccines import price amounted to $X per ton, falling by -27.9% against the previous year. Overall, the import price, however, enjoyed measured growth. The growth pace was the most rapid in 2017 an increase of 42%. Over the period under review, average import prices reached the maximum at $X per ton in 2019; however, from 2020 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Austria ($X per ton), while the price for Belgium ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Italy (+8.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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