Italy: Vaccine Market 2024

Vaccine Market Size in Italy

In 2022, the Italian vaccine market decreased by -61.9% to $X, falling for the third consecutive year after two years of growth. In general, consumption continues to indicate a abrupt downturn. Over the period under review, the market attained the maximum level at $X in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

Vaccine Production in Italy

In value terms, vaccine production stood at $X in 2022 estimated in export price. Overall, the total production indicated a prominent expansion from 2012 to 2022: its value increased at an average annual rate of +5.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -2.0% against 2020 indices. The pace of growth was the most pronounced in 2013 when the production volume increased by 26%. Over the period under review, production reached the maximum level at $X in 2020; afterwards, it flattened through to 2022.

Vaccine Exports

Exports from Italy

After two years of growth, overseas shipments of vaccines for human medicine decreased by -18.3% to X tons in 2022. Overall, total exports indicated a modest increase from 2012 to 2022: its volume increased at an average annual rate of +1.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +36.0% against 2019 indices. The growth pace was the most rapid in 2021 when exports increased by 62%. As a result, the exports reached the peak of X tons, and then contracted notably in the following year.

In value terms, vaccine exports contracted notably to $X in 2022. Over the period under review, exports, however, enjoyed a strong increase. The growth pace was the most rapid in 2021 when exports increased by 135% against the previous year. As a result, the exports attained the peak of $X, and then fell dramatically in the following year.

Exports by Country

Argentina (X tons), the Philippines (X tons) and Tunisia (X tons) were the main destinations of vaccine exports from Italy, with a combined 99% 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 Philippines (with a CAGR of +44.7%), while the other leaders experienced more modest paces of growth.

In value terms, Argentina ($X), the Philippines ($X) and Tunisia ($X) appeared to be the largest markets for vaccine exported from Italy worldwide, together comprising 100% of total exports.

In terms of the main countries of destination, the Philippines, with a CAGR of +84.1%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average vaccine export price stood at $X per kg in 2022, waning by -12.8% against the previous year. Over the period under review, the export price, however, saw a buoyant increase. The pace of growth was the most pronounced in 2021 an increase of 45% against the previous year. As a result, the export price reached the peak level of $X per kg, and then reduced in the following year.

Average prices varied somewhat for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Tunisia ($X per kg), while the average price for exports to the Philippines ($X per kg) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to France (+34.2%), while the prices for the other major destinations experienced more modest paces of growth.

Vaccine Imports

Imports into Italy

In 2021, purchases abroad of vaccines for human medicine increased by 18% to X tons, rising for the fourth year in a row after three years of decline. In general, imports continue to indicate resilient growth. The pace of growth appeared the most rapid in 2018 with an increase of 104% against the previous year. Over the period under review, imports attained the peak figure in 2021 and are expected to retain growth in the immediate term.

In value terms, vaccine imports expanded significantly to $X in 2021. Over the period under review, imports enjoyed buoyant growth. The most prominent rate of growth was recorded in 2018 when imports increased by 69% against the previous year. Imports peaked in 2021 and are expected to retain growth in years to come.

Imports by Country

In 2021, Germany (X tons) constituted the largest vaccine supplier to Italy, accounting for a 64% share of total imports. Moreover, vaccine imports from Germany exceeded the figures recorded by the second-largest supplier, Belgium (X tons), fivefold. The third position in this ranking was taken by France (X tons), with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Germany stood at +107.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Belgium (-1.7% per year) and France (-8.2% per year).

In value terms, Germany ($X), Belgium ($X) and the Netherlands ($X) were the largest vaccine suppliers to Italy, with a combined 91% share of total imports.

Germany, with a CAGR of +98.8%, 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 2021, the average vaccine import price amounted to $X per ton, reducing by -7.3% against the previous year. Over the period under review, the import price, however, continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2013 when the average import price increased by 26%. Over the period under review, average import prices hit record highs at $X per ton in 2016; however, from 2017 to 2021, import prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Netherlands (+24.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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