Ireland: Vaccine Market 2024

Vaccine Market Size in Ireland

After five years of growth, the Irish vaccine market decreased by -11.1% to $X in 2022. Over the period under review, consumption, however, continues to indicate strong growth. Vaccine consumption peaked at $X in 2021, and then contracted in the following year.

Vaccine Production in Ireland

In value terms, vaccine production reduced slightly to $X in 2022 estimated in export price. In general, production, however, recorded pronounced growth. The pace of growth appeared the most rapid in 2014 when the production volume increased by 104%. Over the period under review, production attained the maximum level at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Vaccine Exports

Exports from Ireland

Vaccine exports from Ireland rose remarkably to X tons in 2022, increasing by 9.8% compared with the previous year. In general, exports saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 with an increase of 142% against the previous year. The exports peaked at X tons in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

In value terms, vaccine exports expanded remarkably to $X in 2022. Overall, exports posted a tangible increase. The pace of growth appeared the most rapid in 2014 when exports increased by 85% against the previous year. Over the period under review, the exports reached the maximum at $X in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

Exports by Country

The United States (X tons), the UK (X tons) and the Netherlands (X tons) were the main destinations of vaccine exports from Ireland, with a combined 69% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the Netherlands (with a CAGR of +259.5%), while the other leaders experienced more modest paces of growth.

In value terms, Belgium ($X) remains the key foreign market for vaccines for human medicine exports from Ireland, comprising 68% of total exports. The second position in the ranking was taken by the UK ($X), with a 19% share of total exports. It was followed by the United States, with a 5.6% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Belgium was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: the UK (+18.2% per year) and the United States (+39.5% per year).

Export Prices by Country

In 2022, the average vaccine export price amounted to $X per ton, remaining relatively unchanged against the previous year. Overall, export price indicated a tangible expansion from 2012 to 2022: its price increased at an average annual rate of +2.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, vaccine export price decreased by -23.0% against 2020 indices. The pace of growth was the most pronounced in 2020 an increase of 39%. As a result, the export price reached the peak level of $X per ton. From 2021 to 2022, the average export prices remained at a lower figure.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Belgium ($X per ton), while the average price for exports to the United Arab Emirates ($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 Belgium (+21.5%), while the prices for the other major destinations experienced more modest paces of growth.

Vaccine Imports

Imports into Ireland

Vaccine imports into Ireland rose sharply to X tons in 2022, growing by 14% compared with the previous year's figure. Overall, imports enjoyed a strong increase. The growth pace was the most rapid in 2018 with an increase of 283%. Imports peaked at X tons in 2020; however, from 2021 to 2022, imports failed to regain momentum.

In value terms, vaccine imports reduced to $X in 2022. Over the period under review, imports recorded a strong expansion. The most prominent rate of growth was recorded in 2018 with an increase of 305% against the previous year. Imports peaked at $X in 2021, and then contracted in the following year.

Imports by Country

In 2022, Belgium (X tons) constituted the largest supplier of vaccine to Ireland, accounting for a 67% share of total imports. Moreover, vaccine imports from Belgium exceeded the figures recorded by the second-largest supplier, the United States (X tons), fourfold. The third position in this ranking was held by France (X tons), with an 11% share.

From 2012 to 2022, the average annual growth rate of volume from Belgium amounted to +35.4%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+9.8% per year) and France (+16.2% per year).

In value terms, the largest vaccine suppliers to Ireland were the United States ($X), Belgium ($X) and the UK ($X), together accounting for 97% of total imports.

Belgium, with a CAGR of +31.6%, recorded the highest rates of growth with regard to the value of imports, among 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 2022, the average vaccine import price amounted to $X per ton, shrinking by -17.8% against the previous year. In general, the import price saw a perceptible downturn. The growth pace was the most rapid in 2017 when the average import price increased by 104% against the previous year. The import price peaked at $X per ton in 2018; however, from 2019 to 2022, import prices failed to regain momentum.

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 the United States ($X per ton), while the price for France ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the UK (+20.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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