Report Update Nov 1, 2024

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

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Philippines: Vaccine Market 2024

Vaccine Market Size in the Philippines

The Philippine vaccine market shrank rapidly to $X in 2022, dropping by -53.4% 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, recorded a significant expansion. As a result, consumption attained the peak level of $X, and then shrank markedly in the following year.

Vaccine Exports

Exports from the Philippines

Vaccine exports from the Philippines contracted to X kg in 2022, which is down by -9.2% against 2021 figures. Over the period under review, exports saw a dramatic descent. The pace of growth appeared the most rapid in 2016 when exports increased by 1,095% against the previous year. Over the period under review, the exports attained the maximum at X kg in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, vaccine exports soared to $X in 2022. Overall, exports continue to indicate a noticeable reduction. The most prominent rate of growth was recorded in 2016 with an increase of 2,409%. As a result, the exports attained the peak of $X. From 2017 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

The Netherlands (X kg) was the main destination for vaccine exports from the Philippines, accounting for a 69% share of total exports. Moreover, vaccine exports to the Netherlands exceeded the volume sent to the second major destination, Thailand (X kg), fourfold. Brunei Darussalam (X kg) ranked third in terms of total exports with a 5.1% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the Netherlands amounted to +51.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Thailand (-17.4% per year) and Brunei Darussalam (-15.4% per year).

In value terms, the largest markets for vaccine exported from the Philippines were the Netherlands ($X), Thailand ($X) and Brunei Darussalam ($X), together accounting for 62% of total exports.

The Netherlands, with a CAGR of +152.2%, saw the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced a decline.

Export Prices by Country

The average vaccine export price stood at $X per ton in 2022, surging by 37% against the previous year. In general, the export price showed significant growth. The most prominent rate of growth was recorded in 2016 when the average export price increased by 110%. The export price peaked at $X per ton in 2017; however, from 2018 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Thailand ($X per ton), while the average price for exports to Belgium ($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 the Netherlands (+66.9%), while the prices for the other major destinations experienced more modest paces of growth.

Vaccine Imports

Imports into the Philippines

In 2022, after three years of growth, there was significant decline in supplies from abroad of vaccines for human medicine, when their volume decreased by -48% to X tons. Over the period under review, imports, however, posted a remarkable increase. The pace of growth appeared the most rapid in 2021 when imports increased by 559%. As a result, imports reached the peak of X tons, and then shrank remarkably in the following year.

In value terms, vaccine imports declined rapidly to $X in 2022. Overall, imports, however, enjoyed significant growth. The most prominent rate of growth was recorded in 2021 when imports increased by 1,283% against the previous year. As a result, imports reached the peak of $X, and then fell remarkably in the following year.

Imports by Country

The United States (X tons), Spain (X tons) and Belgium (X tons) were the main suppliers of vaccine imports to the Philippines, together accounting for 83% of total imports.

From 2012 to 2022, the biggest increases were recorded for the United States (with a CAGR of +47.8%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest vaccine suppliers to the Philippines were the United States ($X), Belgium ($X) and Italy ($X), with a combined 70% share of total imports.

The United States, with a CAGR of +63.4%, saw the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average vaccine import price amounted to $X per ton, dropping by -15.3% against the previous year. Overall, the import price, however, enjoyed a resilient increase. The pace of growth was the most pronounced in 2021 when the average import price increased by 110% against the previous year. As a result, import price attained the peak level of $X per ton, and then declined rapidly in the following year.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+28.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for vaccines for human medicine in the world?

The countries with the highest volumes of vaccines consumption in 2020 were China, the United States and Japan, together comprising 44% of global consumption. India, Germany, Russia, Nigeria, Indonesia, the Netherlands, Mexico, France, Pakistan and Canada lagged somewhat behind, together accounting for a further 32%.

What are the largest producers of vaccines for human medicine in the world?

The countries with the highest volumes of vaccines production in 2020 were Ireland, China and the United States, together comprising 46% of global production.

What are the leading suppliers of vaccines for human medicine to the Philippines?

In value terms, the United States, India and France constituted the largest vaccines suppliers to the Philippines, with a combined 81% share of total imports.

What is the average export price for vaccines for human medicine in the Philippines?

The average vaccines export price stood at $5,182 per ton in 2020, reducing by -93.1% against the previous year.

What is the average import price for vaccines for human medicine in the Philippines?

In 2020, the average vaccines import price amounted to $250,784 per ton, with a decrease of -23.6% against the previous year.

This report provides an in-depth analysis of the vaccine market in the Philippines. 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:

Philippines

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in the Philippines
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