Middle East: Vaccine Market 2024

Vaccine Market Size in the Middle East

The Middle Eastern vaccine market contracted rapidly to $X in 2022, waning by -44% against the previous year. Overall, consumption, however, showed a resilient expansion. As a result, consumption attained the peak level of $X, and then dropped notably in the following year.

Vaccine Production in the Middle East

In value terms, vaccine production reached $X in 2022 estimated in export price. The total production indicated a measured 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 most prominent rate of growth was recorded in 2017 with an increase of 55% against the previous year. The level of production peaked at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Vaccine Exports

Exports in the Middle East

In 2022, the amount of vaccines for human medicine exported in the Middle East reduced to X tons, which is down by -11.9% compared with the previous year's figure. Over the period under review, exports faced a deep setback. The pace of growth was the most pronounced in 2015 with an increase of 59%. The volume of export peaked at X tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, vaccine exports dropped significantly to $X in 2022. In general, exports saw a abrupt setback. The pace of growth appeared the most rapid in 2018 with an increase of 29%. 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) was the largest exporter of vaccines for human medicine, comprising 48% of total exports. Saudi Arabia (X tons) held a 22% share (based on physical terms) of total exports, which put it in second place, followed by Turkey (15%), Jordan (7.2%) and Israel (6.8%).

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, Jordan (+11.5%) displayed positive paces of growth. Moreover, Jordan emerged as the fastest-growing exporter exported in the Middle East, with a CAGR of +11.5% from 2012-2022. By contrast, Saudi Arabia (-13.0%), Turkey (-13.0%) and Israel (-20.9%) illustrated a downward trend over the same period. Jordan (+6.6 p.p.) and Saudi Arabia (+2.3 p.p.) significantly strengthened its position in terms of the total exports, while Israel saw its share reduced by -9% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) remains the largest vaccine supplier in the Middle East, comprising 50% of total exports. The second position in the ranking was held by Israel ($X), with an 18% share of total exports. It was followed by Saudi Arabia, with a 16% 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 the Middle East amounted to $X per ton, reducing by -4% against the previous year. Overall, the export price, however, showed a noticeable increase. The pace of growth appeared the most rapid in 2018 when the export price increased by 148% against the previous year. The level of export peaked at $X per ton in 2019; however, from 2020 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Israel ($X per ton), while Jordan ($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 the Middle East

In 2022, vaccine imports in the Middle East shrank rapidly to X tons, with a decrease of -47.7% against 2021 figures. Over the period under review, imports, however, enjoyed a remarkable increase. The pace of growth appeared the most rapid in 2021 when imports increased by 285%. As a result, imports attained the peak of X tons, and then declined rapidly in the following year.

In value terms, vaccine imports contracted remarkably to $X in 2022. In general, imports, however, continue to indicate significant growth. The pace of growth was the most pronounced in 2021 when imports increased by 647%. As a result, imports attained the peak of $X, and then fell markedly 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 65% of total import. Israel (X tons) took the next position in the ranking, followed by Iraq (X tons). All these countries together took near 16% share of total imports. The following importers - Iran (X tons) and Jordan (X tons) - each reached a 6.2% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by the United Arab Emirates (with a CAGR of +28.2%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Turkey ($X) constitutes the largest market for imported vaccines for human medicine in the Middle East, comprising 38% of total imports. The second position in the ranking was held by the United Arab Emirates ($X), with a 19% share of total imports. It was followed by Saudi Arabia, with a 15% share.

In Turkey, vaccine imports expanded at an average annual rate of +21.6% over the period from 2012-2022. In the other countries, the average annual rates were as follows: 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 the Middle East amounted to $X per ton, surging by 8.4% against the previous year. Overall, the import price continues to indicate a buoyant expansion. The most prominent rate of growth was recorded in 2021 an increase of 94%. The level of import peaked in 2022 and is likely to see gradual growth in the near future.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Turkey ($X per ton), while Jordan ($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

Frequently Asked Questions (FAQ) :