Sri Lanka: Veterinary Medicine Vaccines Market 2024

Veterinary Medicine Vaccines Market Size in Sri Lanka

The Sri Lankan veterinary medicine vaccines market amounted to $X in 2021, growing by 15% 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, showed a buoyant expansion. Veterinary medicine vaccines consumption peaked in 2021 and is likely to see gradual growth in the near future.

Veterinary Medicine Vaccines Exports

Exports from Sri Lanka

In 2021, shipments abroad of vaccines for veterinary medicine decreased by 0% to X kg, falling for the fifth consecutive year after five years of growth. Overall, exports continue to indicate a abrupt descent. The pace of growth was the most pronounced in 2016 with an increase of 21%. As a result, the exports attained the peak of X kg. From 2017 to 2021, the growth of the exports remained at a lower figure.

In value terms, veterinary medicine vaccines exports fell to $X in 2021. In general, exports saw a deep setback. The pace of growth was the most pronounced in 2016 with an increase of 61%. As a result, the exports attained the peak of $X. From 2017 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

Oman (X kg) was the main destination for veterinary medicine vaccines exports from Sri Lanka, accounting for a approx. 100% share of total exports.

From 2012 to 2021, the average annual growth rate of volume to Oman amounted to -11.5%.

In value terms, Oman ($X) remains the key foreign market for vaccines for veterinary medicine exports from Sri Lanka, comprising 77% of total exports. The second position in the ranking was held by Maldives ($X), with a 23% share of total exports.

From 2012 to 2021, the average annual growth rate of value to Oman amounted to -11.5%.

Export Prices by Country

The average veterinary medicine vaccines export price stood at $X per ton in 2021, reducing by -14.3% against the previous year. Over the period under review, the export price, however, recorded a perceptible increase. The pace of growth appeared the most rapid in 2016 when the average export price increased by 33%. The export price peaked at $X per ton in 2017; however, from 2018 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major foreign markets. In 2021, the country with the highest price was Maldives ($X per ton), while the average price for exports to Oman stood at $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Maldives (+18.6%).

Veterinary Medicine Vaccines Imports

Imports into Sri Lanka

In 2021, the amount of vaccines for veterinary medicine imported into Sri Lanka dropped to X tons, falling by -14% on the previous year's figure. Overall, total imports indicated buoyant growth from 2012 to 2021: its volume increased at an average annual rate of +5.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +30.7% against 2017 indices. The most prominent rate of growth was recorded in 2013 with an increase of 51% against the previous year. Imports peaked at X tons in 2020, and then shrank in the following year.

In value terms, veterinary medicine vaccines imports soared to $X in 2021. Over the period under review, imports, however, enjoyed a resilient expansion. The pace of growth was the most pronounced in 2020 with an increase of 46%. Imports peaked in 2021 and are likely to see steady growth in years to come.

Imports by Country

France (X tons), India (X tons) and the United States (X tons) were the main suppliers of veterinary medicine vaccines imports to Sri Lanka, with a combined 50% share of total imports. These countries were followed by Spain, Indonesia, the Netherlands, Italy and Germany, which together accounted for a further 21%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Indonesia (with a CAGR of +33.7%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest veterinary medicine vaccines suppliers to Sri Lanka were the Netherlands ($X), the United States ($X) and France ($X), together comprising 51% of total imports. India, Spain, Italy, Germany and Indonesia lagged somewhat behind, together accounting for a further 20%.

Italy, with a CAGR of +17.0%, saw the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average veterinary medicine vaccines import price stood at $X per ton in 2021, rising by 45% against the previous year. In general, import price indicated buoyant growth from 2012 to 2021: its price increased at an average annual rate of +7.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, veterinary medicine vaccines import price increased by +41.7% against 2017 indices. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was the Netherlands ($X per ton), while the price for Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Netherlands (+22.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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