Southern Asia: Veterinary Medicine Vaccines Market 2024

Veterinary Medicine Vaccines Market Size in Southern Asia

The South Asian veterinary medicine vaccines market expanded remarkably to $X in 2021, increasing by 6.1% against the previous year. The total consumption indicated a buoyant expansion from 2012 to 2021: its value increased at an average annual rate of +5.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +60.0% against 2012 indices. Over the period under review, the market attained the peak level in 2021 and is likely to see gradual growth in years to come.

Veterinary Medicine Vaccines Production in Southern Asia

In value terms, veterinary medicine vaccines production reached $X in 2021 estimated in export price. The total production indicated a moderate increase from 2012 to 2021: its value increased at an average annual rate of +4.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -0.9% against 2019 indices. The most prominent rate of growth was recorded in 2018 with an increase of 14%. The level of production peaked at $X in 2019; however, from 2020 to 2021, production failed to regain momentum.

Veterinary Medicine Vaccines Exports

Exports in Southern Asia

In 2021, shipments abroad of vaccines for veterinary medicine increased by 18% to X tons, rising for the third consecutive year after two years of decline. Total exports indicated a resilient expansion from 2012 to 2021: its volume increased at an average annual rate of +6.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +74.1% against 2018 indices. The growth pace was the most rapid in 2020 with an increase of 27% against the previous year. The volume of export peaked in 2021 and is likely to see gradual growth in the immediate term.

In value terms, veterinary medicine vaccines exports contracted to $X in 2021. In general, exports saw a resilient increase. The most prominent rate of growth was recorded in 2016 when exports increased by 83% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2019; however, from 2020 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

India prevails in exports structure, reaching X tons, which was near 96% of total exports in 2021. Pakistan (X tons) held a minor share of total exports.

India was also the fastest-growing in terms of the vaccines for veterinary medicine exports, with a CAGR of +6.5% from 2012 to 2021. Pakistan (-4.1%) illustrated a downward trend over the same period. While the share of India (+3.5 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Pakistan (-4.2 p.p.) displayed negative dynamics.

In value terms, India ($X) remains the largest veterinary medicine vaccines supplier in Southern Asia, comprising 95% of total exports. The second position in the ranking was taken by Pakistan ($X), with a 3% share of total exports.

In India, veterinary medicine vaccines exports increased at an average annual rate of +7.2% over the period from 2012-2021.

Export Prices by Country

The export price in Southern Asia stood at $X per ton in 2021, falling by -24% against the previous year. Over the period under review, the export price, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 when the export price increased by 47%. Over the period under review, the export prices hit record highs at $X per ton in 2018; however, from 2019 to 2021, the export prices failed to regain momentum.

Average prices varied noticeably amongst the major exporting countries. In 2021, the country with the highest price was Pakistan ($X per ton), while India amounted to $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by India (+0.7%).

Veterinary Medicine Vaccines Imports

Imports in Southern Asia

In 2021, veterinary medicine vaccines imports in Southern Asia soared to X tons, with an increase of 55% compared with the previous year's figure. Overall, imports enjoyed resilient growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, veterinary medicine vaccines imports soared to $X in 2021. In general, imports saw buoyant growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Pakistan (X tons), India (X tons) and Bangladesh (X tons) represented roughly 91% of total imports in 2021. It was distantly followed by Nepal (X tons), constituting a 4.5% share of total imports. The following importers - Sri Lanka (X tons) and Afghanistan (X tons) - each amounted to a 4.5% share of total imports.

From 2012 to 2021, the biggest increases were recorded for India (with a CAGR of +29.7%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, India ($X), Pakistan ($X) and Bangladesh ($X) appeared to be the countries with the highest levels of imports in 2021, with a combined 90% share of total imports.

Bangladesh, with a CAGR of +18.8%, recorded the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the import price in Southern Asia amounted to $X per ton, waning by -5% against the previous year. Over the last nine years, it increased at an average annual rate of +1.3%. The growth pace was the most rapid in 2015 when the import price increased by 18%. Over the period under review, import prices reached the peak figure at $X per ton in 2017; however, from 2018 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably country of destination: the country with the highest price was Sri Lanka ($X per ton), while Afghanistan ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Afghanistan (+8.8%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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