Indonesia: Vaccine Market 2024

Vaccine Market Size in Indonesia

The Indonesian vaccine market totaled $X in 2022, surging by 3.8% against the previous year. Over the period under review, consumption continues to indicate resilient growth. Over the period under review, the market hit record highs at $X in 2020; afterwards, it flattened through to 2022.

Vaccine Production in Indonesia

In value terms, vaccine production stood at $X in 2022 estimated in export price. Over the period under review, production posted buoyant growth. The growth pace was the most rapid in 2018 when the production volume increased by 48%. Vaccine production peaked at $X in 2020; afterwards, it flattened through to 2022.

Vaccine Exports

Exports from Indonesia

In 2022, the amount of vaccines for human medicine exported from Indonesia declined to X tons, with a decrease of -14.7% against the previous year. Overall, exports saw a noticeable descent. The most prominent rate of growth was recorded in 2015 with an increase of 60% against the previous year. As a result, the exports attained the peak of X tons. From 2016 to 2022, the growth of the exports remained at a lower figure.

In value terms, vaccine exports reduced dramatically to $X in 2022. Over the period under review, exports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of 48%. The exports peaked at $X in 2015; however, from 2016 to 2022, the exports remained at a lower figure.

Exports by Country

India (X tons) was the main destination for vaccine exports from Indonesia, with a 53% share of total exports. Moreover, vaccine exports to India exceeded the volume sent to the second major destination, Nigeria (X tons), fourfold. Pakistan (X tons) ranked third in terms of total exports with a 7.3% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to India totaled -5.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Nigeria (+2.9% per year) and Pakistan (+33.9% per year).

In value terms, India ($X) remains the key foreign market for vaccines for human medicine exports from Indonesia, comprising 47% of total exports. The second position in the ranking was held by Nigeria ($X), with a 19% share of total exports. It was followed by Pakistan, with a 10% share.

From 2012 to 2022, the average annual rate of growth in terms of value to India amounted to -2.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Nigeria (+8.6% per year) and Pakistan (+48.8% per year).

Export Prices by Country

In 2022, the average vaccine export price amounted to $X per ton, waning by -1.8% against the previous year. Over the last decade, it increased at an average annual rate of +3.0%. The most prominent rate of growth was recorded in 2016 an increase of 35%. Over the period under review, the average export prices reached the maximum at $X per ton in 2021, and then fell modestly in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Afghanistan ($X per ton), while the average price for exports to Mali ($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 Pakistan (+11.2%), while the prices for the other major destinations experienced more modest paces of growth.

Vaccine Imports

Imports into Indonesia

In 2022, imports of vaccines for human medicine into Indonesia fell modestly to X tons, shrinking by -4.2% on the previous year. In general, imports, however, showed a resilient expansion. The pace of growth appeared the most rapid in 2017 with an increase of 126% against the previous year. Over the period under review, imports attained the maximum at X tons in 2020; however, from 2021 to 2022, imports remained at a lower figure.

In value terms, vaccine imports dropped to $X in 2022. Over the period under review, imports, however, recorded strong growth. The growth pace was the most rapid in 2017 when imports increased by 120%. Imports peaked at $X in 2021, and then declined in the following year.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of vaccine to Indonesia, accounting for a 35% share of total imports. Moreover, vaccine imports from China exceeded the figures recorded by the second-largest supplier, the United States (X tons), twofold. India (X tons) ranked third in terms of total imports with an 8.5% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China stood at +203.2%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+68.9% per year) and India (+48.1% per year).

In value terms, China ($X) constituted the largest supplier of vaccines for human medicine to Indonesia, comprising 61% of total imports. The second position in the ranking was held by the United States ($X), with an 8.9% share of total imports. It was followed by the Netherlands, with a 4.3% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China stood at +283.0%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+75.4% per year) and the Netherlands (+17.7% per year).

Import Prices by Country

In 2022, the average vaccine import price amounted to $X per ton, with a decrease of -3.4% against the previous year. Overall, import price indicated a moderate expansion from 2012 to 2022: its price increased at an average annual rate of +4.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, vaccine import price increased by +39.0% against 2020 indices. The most prominent rate of growth was recorded in 2021 an increase of 44% against the previous year. As a result, import price reached the peak level of $X per ton, and then shrank modestly 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 China ($X per ton), while the price for Thailand ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+26.3%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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