Report Update Nov 1, 2024

Latvia - Vaccines for Human Medicine - Market Analysis, Forecast, Size, Trends and Insights

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Latvia: Vaccine Market 2024

Vaccine Market Size in Latvia

The Latvian vaccine market declined notably to less than $X in 2022, which is down by 99.9% against the previous year. In general, consumption posted moderate growth. As a result, consumption attained the peak level of $X, and then dropped significantly in the following year.

Vaccine Production in Latvia

In value terms, vaccine production amounted to $X in 2022 estimated in export price. Over the period under review, production continues to indicate a relatively flat trend pattern. Over the period under review, production attained the peak level in 2022 and is expected to retain growth in the near future.

Vaccine Exports

Exports from Latvia

In 2022, approx. X tons of vaccines for human medicine were exported from Latvia; falling by -69.2% on the previous year's figure. Over the period under review, exports, however, enjoyed a buoyant expansion. The pace of growth appeared the most rapid in 2018 with an increase of 406% against the previous year. The exports peaked at X tons in 2021, and then reduced rapidly in the following year.

In value terms, vaccine exports reduced to $X in 2022. Overall, exports, however, continue to indicate a strong expansion. The most prominent rate of growth was recorded in 2018 when exports increased by 195% against the previous year. The exports peaked at $X in 2021, and then shrank in the following year.

Exports by Country

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

From 2012 to 2022, the average annual growth rate of volume to Moldova was relatively modest.

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

From 2012 to 2022, the average annual rate of growth in terms of value to Moldova was relatively modest.

Export Prices by Country

The average vaccine export price stood at $X per ton in 2022, rising by 187% against the previous year. In general, the export price recorded a strong expansion. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2022, the rate of growth in terms of prices for Estonia amounted to +14.7% per year.

Vaccine Imports

Imports into Latvia

Vaccine imports into Latvia skyrocketed to X tons in 2021, picking up by 16% compared with 2020 figures. In general, total imports indicated a temperate increase from 2012 to 2021: its volume increased at an average annual rate of +3.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +49.6% against 2017 indices. The pace of growth was the most pronounced in 2014 with an increase of 51%. Imports peaked at X tons in 2015; however, from 2016 to 2021, imports remained at a lower figure.

In value terms, vaccine imports surged to $X in 2021. Over the period under review, imports recorded a resilient expansion. As a result, imports attained 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 Latvia, accounting for a 65% share of total imports. Moreover, vaccine imports from Belgium exceeded the figures recorded by the second-largest supplier, Poland (X tons), fourfold. The third position in this ranking was taken by France (X tons), with a 9.2% share.

From 2012 to 2021, the average annual growth rate of volume from Belgium amounted to +48.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Poland (-10.1% per year) and France (+1.4% per year).

In value terms, Belgium ($X) constituted the largest supplier of vaccines for human medicine to Latvia, comprising 85% of total imports. The second position in the ranking was held by Poland ($X), with a 5.7% share of total imports. It was followed by Lithuania, with a 4.1% share.

From 2012 to 2021, the average annual growth rate of value from Belgium amounted to +63.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Poland (-15.7% per year) and Lithuania (+67.5% per year).

Import Prices by Country

In 2021, the average vaccine import price amounted to $X per kg, with an increase of 130% against the previous year. In general, the import price continues to indicate strong growth. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Belgium (+10.1%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

This report provides an in-depth analysis of the vaccine market in Latvia. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Prodcom 21202140 -
Prodcom 21202145 - Vaccines for human medicine

Country coverage:

Latvia

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Latvia
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023