Oman: Vaccine Market 2024

Vaccine Market Size in Oman

The Omani vaccine market shrank notably to $X in 2022, which is down by -30.9% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption, however, saw a resilient increase. As a result, consumption reached the peak level of $X, and then declined significantly in the following year.

Vaccine Exports

Exports from Oman

After two years of decline, shipments abroad of vaccines for human medicine decreased by -15.4% to X kg in 2022. Overall, exports saw a abrupt slump. The most prominent rate of growth was recorded in 2019 with an increase of 7,742%. As a result, the exports attained the peak of X kg. From 2020 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, vaccine exports fell to $X in 2022. In general, exports continue to indicate a deep contraction. The most prominent rate of growth was recorded in 2019 with an increase of 23,725% against the previous year. As a result, the exports reached the peak of $X. From 2020 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Switzerland (X kg) was the main destination for vaccine exports from Oman, accounting for a 45% share of total exports. Moreover, vaccine exports to Switzerland exceeded the volume sent to the second major destination, the UK (X kg), threefold. The third position in this ranking was held by Tanzania (X kg), with a 9.1% share.

From 2012 to 2022, the average annual growth rate of volume to Switzerland amounted to +17.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: the UK (+7.2% per year) and Tanzania (0.0% per year).

In value terms, Switzerland ($X) remains the key foreign market for vaccines for human medicine exports from Oman, comprising 52% of total exports. The second position in the ranking was taken by the UK ($X), with a 23% share of total exports. It was followed by Tanzania, with a 15% share.

From 2012 to 2022, the average annual growth rate of value to Switzerland totaled +83.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: the UK (+88.5% per year) and Tanzania (+80.2% per year).

Export Prices by Country

In 2022, the average vaccine export price amounted to $X per ton, surging by 4.9% against the previous year. In general, the export price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 an increase of 204%. Over the period under review, the average export prices reached the maximum at $X per ton in 2013; however, from 2014 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Tanzania ($X per ton), while the average price for exports to the United States ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Tanzania (+80.2%), while the prices for the other major destinations experienced more modest paces of growth.

Vaccine Imports

Imports into Oman

In 2022, after three years of growth, there was significant decline in purchases abroad of vaccines for human medicine, when their volume decreased by -34.3% to X tons. Overall, imports, however, posted a strong increase. The most prominent rate of growth was recorded in 2021 when imports increased by 141% against the previous year. As a result, imports attained the peak of X tons, and then contracted sharply in the following year.

In value terms, vaccine imports contracted dramatically to $X in 2022. In general, imports, however, enjoyed a buoyant increase. The pace of growth was the most pronounced in 2021 with an increase of 139%. As a result, imports reached the peak of $X, and then declined sharply in the following year.

Imports by Country

Qatar (X tons), the United States (X tons) and the United Arab Emirates (X tons) were the main suppliers of vaccine imports to Oman, with a combined 64% share of total imports. Belgium, the UK, the Netherlands, Luxembourg, France and Switzerland lagged somewhat behind, together accounting for a further 29%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the Netherlands (with a CAGR of +41.7%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), Belgium ($X) and Qatar ($X) constituted the largest vaccine suppliers to Oman, together comprising 75% of total imports. The United Arab Emirates, the UK, France, the Netherlands, Luxembourg and Switzerland lagged somewhat behind, together accounting for a further 21%.

In terms of the main suppliers, the Netherlands, with a CAGR of +41.8%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average vaccine import price stood at $X per ton in 2022, picking up by 8.1% against the previous year. In general, the import price showed a tangible increase. The most prominent rate of growth was recorded in 2016 an increase of 58% against the previous year. Over the period under review, average import prices attained the maximum at $X per ton in 2018; however, from 2019 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Belgium ($X per ton), while the price for Luxembourg ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Belgium (+15.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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