MERCOSUR: Vaccine Market 2024

Vaccine Market Size in MERCOSUR

The MERCOSUR vaccine market declined remarkably to $X in 2022, which is down by -31% against the previous year. Overall, consumption, however, continues to indicate a buoyant expansion. As a result, consumption reached the peak level of $X, and then reduced notably in the following year.

Vaccine Production in MERCOSUR

In value terms, vaccine production expanded slightly to $X in 2022 estimated in export price. The total production indicated prominent growth from 2012 to 2022: its value increased at an average annual rate of +7.9% 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 -2.7% against 2020 indices. The pace of growth appeared the most rapid in 2013 with an increase of 30% 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 MERCOSUR

Vaccine exports expanded to X tons in 2022, with an increase of 2% against the previous year. In general, exports, however, saw a slight decrease. The pace of growth appeared the most rapid in 2019 when exports increased by 164% against the previous year. The volume of export peaked at X tons in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

In value terms, vaccine exports surged to $X in 2022. Overall, exports, however, continue to indicate a deep reduction. The pace of growth appeared the most rapid in 2019 with an increase of 463% against the previous year. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

Brazil prevails in exports structure, finishing at X tons, which was near 81% of total exports in 2022. It was distantly followed by Argentina (X tons), committing a 9% share of total exports. The following exporters - Colombia (X tons), Ecuador (X tons) and Guyana (X tons) - together made up 9.1% of total exports.

From 2012 to 2022, average annual rates of growth with regard to vaccine exports from Brazil stood at -1.7%. At the same time, Guyana (+58.0%) and Ecuador (+18.4%) displayed positive paces of growth. Moreover, Guyana emerged as the fastest-growing exporter exported in MERCOSUR, with a CAGR of +58.0% from 2012-2022. Colombia experienced a relatively flat trend pattern. By contrast, Argentina (-6.8%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Ecuador and Guyana increased by +3.1 and +1.6 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Brazil ($X) remains the largest vaccine supplier in MERCOSUR, comprising 88% of total exports. The second position in the ranking was held by Colombia ($X), with a 5.3% share of total exports. It was followed by Argentina, with a 4.4% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Brazil totaled -6.6%. In the other countries, the average annual rates were as follows: Colombia (+1.5% per year) and Argentina (-6.9% per year).

Export Prices by Country

The export price in MERCOSUR stood at $X per ton in 2022, jumping by 31% against the previous year. Over the period under review, the export price, however, saw a perceptible reduction. The growth pace was the most rapid in 2019 when the export price increased by 113% against the previous year. The level of export peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Colombia ($X per ton), while Guyana ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Ecuador (+6.4%), while the other leaders experienced mixed trends in the export price figures.

Vaccine Imports

Imports in MERCOSUR

After two years of growth, supplies from abroad of vaccines for human medicine decreased by -36.2% to X tons in 2022. Over the period under review, imports, however, enjoyed pronounced growth. The most prominent rate of growth was recorded in 2021 when imports increased by 103% against the previous year. As a result, imports attained the peak of X tons, and then dropped notably in the following year.

In value terms, vaccine imports shrank markedly to $X in 2022. In general, imports, however, enjoyed a strong increase. The pace of growth was the most pronounced in 2021 when imports increased by 291%. As a result, imports reached the peak of $X, and then fell significantly in the following year.

Imports by Country

Brazil represented the largest importer of vaccines for human medicine in MERCOSUR, with the volume of imports accounting for X tons, which was approx. 40% of total imports in 2022. It was distantly followed by Argentina (X tons), Chile (X tons), Peru (X tons), Ecuador (X tons), Colombia (X tons) and Uruguay (X tons), together comprising a 54% share of total imports.

From 2012 to 2022, average annual rates of growth with regard to vaccine imports into Brazil stood at +3.9%. At the same time, Uruguay (+18.7%), Argentina (+6.9%), Ecuador (+4.6%) and Peru (+2.3%) displayed positive paces of growth. Moreover, Uruguay emerged as the fastest-growing importer imported in MERCOSUR, with a CAGR of +18.7% from 2012-2022. Chile experienced a relatively flat trend pattern. By contrast, Colombia (-4.2%) illustrated a downward trend over the same period. Argentina (+5.2 p.p.), Uruguay (+3.5 p.p.) and Brazil (+2.8 p.p.) significantly strengthened its position in terms of the total imports, while Chile and Colombia saw its share reduced by -2.9% and -6.8% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Brazil ($X) constitutes the largest market for imported vaccines for human medicine in MERCOSUR, comprising 48% of total imports. The second position in the ranking was taken by Argentina ($X), with a 19% share of total imports. It was followed by Chile, with an 11% share.

In Brazil, vaccine imports expanded at an average annual rate of +11.1% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Argentina (+19.6% per year) and Chile (+14.6% per year).

Import Prices by Country

The import price in MERCOSUR stood at $X per ton in 2022, approximately reflecting the previous year. Overall, the import price, however, continues to indicate a strong expansion. The most prominent rate of growth was recorded in 2021 when the import price increased by 92% against the previous year. As a result, import price reached the peak level of $X per ton, and then reduced in the following year.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Chile (+13.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform