MENA: Vaccine Market 2024

Vaccine Market Size in MENA

After six years of growth, the MENA's vaccine market decreased by -42.2% to $X in 2022. Overall, consumption, however, continues to indicate a resilient expansion. As a result, consumption attained the peak level of $X, and then contracted remarkably in the following year.

Vaccine Production in MENA

In value terms, vaccine production rose slightly to $X in 2022 estimated in export price. The total production indicated a noticeable increase from 2012 to 2022: its value increased at an average annual rate of +4.2% 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 -2.8% against 2020 indices. The growth pace was the most rapid in 2017 when the production volume increased by 55% against the previous year. The level of production peaked at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Vaccine Exports

Exports in MENA

In 2022, vaccine exports in MENA shrank rapidly to X tons, with a decrease of -16.9% compared with 2021 figures. In general, exports showed a abrupt downturn. The pace of growth appeared the most rapid in 2015 with an increase of 56% against the previous year. Over the period under review, the exports hit record highs at X tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, vaccine exports reduced remarkably to $X in 2022. Over the period under review, exports recorded a abrupt curtailment. The most prominent rate of growth was recorded in 2021 when exports increased by 31%. Over the period under review, the exports attained the peak figure at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

In 2022, the United Arab Emirates (X tons) represented the major exporter of vaccines for human medicine, constituting 43% of total exports. Saudi Arabia (X tons) took a 20% share (based on physical terms) of total exports, which put it in second place, followed by Turkey (14%), Tunisia (7.3%), Jordan (6.4%) and Israel (6.1%).

From 2012 to 2022, average annual rates of growth with regard to vaccine exports from the United Arab Emirates stood at -13.7%. At the same time, Tunisia (+46.9%) and Jordan (+11.5%) displayed positive paces of growth. Moreover, Tunisia emerged as the fastest-growing exporter exported in MENA, with a CAGR of +46.9% from 2012-2022. By contrast, Saudi Arabia (-13.0%), Turkey (-13.0%) and Israel (-20.9%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Tunisia and Jordan increased by +7.3 and +5.9 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) remains the largest vaccine supplier in MENA, comprising 47% of total exports. The second position in the ranking was held by Israel ($X), with a 17% share of total exports. It was followed by Saudi Arabia, with a 15% share.

In the United Arab Emirates, vaccine exports remained relatively stable over the period from 2012-2022. In the other countries, the average annual rates were as follows: Israel (-16.3% per year) and Saudi Arabia (-4.0% per year).

Export Prices by Country

In 2022, the export price in MENA amounted to $X per ton, flattening at the previous year. Over the period under review, the export price, however, posted a temperate expansion. The pace of growth was the most pronounced in 2018 when the export price increased by 136%. The level of export peaked at $X per ton in 2019; however, from 2020 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Israel ($X per ton), while Tunisia ($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 United Arab Emirates (+15.8%), while the other leaders experienced more modest paces of growth.

Vaccine Imports

Imports in MENA

Vaccine imports fell markedly to X tons in 2022, reducing by -42.8% against 2021 figures. In general, imports, however, enjoyed a prominent increase. The pace of growth was the most pronounced in 2021 with an increase of 231%. As a result, imports reached the peak of X tons, and then dropped remarkably in the following year.

In value terms, vaccine imports declined dramatically to $X in 2022. Over the period under review, imports, however, posted significant growth. The pace of growth appeared the most rapid in 2021 when imports increased by 524%. As a result, imports reached the peak of $X, and then fell notably in the following year.

Imports by Country

The countries with the highest levels of vaccine imports in 2022 were the United Arab Emirates (X tons), Saudi Arabia (X tons) and Turkey (X tons), together accounting for 45% of total import. It was distantly followed by Libya (X tons), Egypt (X tons), Algeria (X tons), Israel (X tons), Morocco (X tons) and Iraq (X tons), together committing a 40% share of total imports. The following importers - Iran (X tons) and Jordan (X tons) - each recorded a 4.3% share of total imports.

From 2012 to 2022, the biggest increases were recorded for the United Arab Emirates (with a CAGR of +28.2%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Turkey ($X) constitutes the largest market for imported vaccines for human medicine in MENA, comprising 32% of total imports. The second position in the ranking was taken by the United Arab Emirates ($X), with a 16% share of total imports. It was followed by Saudi Arabia, with a 13% share.

In Turkey, vaccine imports increased at an average annual rate of +21.6% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: the United Arab Emirates (+33.9% per year) and Saudi Arabia (+18.7% per year).

Import Prices by Country

In 2022, the import price in MENA amounted to $X per ton, almost unchanged from the previous year. Over the period under review, the import price saw a prominent increase. The pace of growth appeared the most rapid in 2021 when the import price increased by 89%. The level of import peaked in 2022 and is expected to retain growth in the immediate term.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Turkey ($X per ton), while Morocco ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Turkey (+16.3%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform