U.S.: Vaccine Market 2024

Vaccine Market Size in the U.S.

The U.S. vaccine market soared to $X in 2022, surging by 70% against the previous year. In general, consumption enjoyed a prominent increase. Vaccine consumption peaked at $X in 2018; however, from 2019 to 2022, consumption failed to regain momentum.

Vaccine Production in the U.S.

In value terms, vaccine production stood at $X in 2022. The total output value increased at an average annual rate of +4.1% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2015 when the production volume increased by 16%. Over the period under review, production attained the peak level at $X in 2018; however, from 2019 to 2022, production stood at a somewhat lower figure.

Vaccine Exports

Exports from the U.S.

In 2022, approx. X tons of vaccines for human medicine were exported from the United States; waning by -53.6% on the year before. In general, exports, however, posted temperate growth. The most prominent rate of growth was recorded in 2021 when exports increased by 266% against the previous year. As a result, the exports reached the peak of X tons, and then declined remarkably in the following year.

In value terms, vaccine exports shrank rapidly to $X in 2022. Over the period under review, exports, however, saw a resilient expansion. The most prominent rate of growth was recorded in 2021 with an increase of 733% against the previous year. As a result, the exports reached the peak of $X, and then shrank remarkably in the following year.

Exports by Country

The Netherlands (X tons), Brazil (X tons) and France (X tons) were the main destinations of vaccine exports from the United States, together accounting for 33% of total exports. Canada, Spain, Belgium, Taiwan (Chinese), Pakistan, Japan, Peru, China, Australia and Bangladesh lagged somewhat behind, together comprising a further 35%.

From 2012 to 2022, the biggest increases were recorded for Spain (with a CAGR of +103.2%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for vaccine exported from the United States were Canada ($X), Brazil ($X) and Belgium ($X), with a combined 42% share of total exports. Spain, the Netherlands, Peru, Pakistan, Japan, Bangladesh, Taiwan (Chinese), France, Australia and China lagged somewhat behind, together comprising a further 21%.

In terms of the main countries of destination, Spain, with a CAGR of +133.3%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average vaccine export price amounted to $X per ton, jumping by 21% against the previous year. Over the period under review, the export price continues to indicate a remarkable increase. The pace of growth was the most pronounced in 2021 an increase of 127% against the previous year. The export price peaked in 2022 and is likely to see steady growth in the near future.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Canada ($X per ton), while the average price for exports to China ($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 Canada (+45.5%), while the prices for the other major destinations experienced more modest paces of growth.

Vaccine Imports

Imports into the U.S.

Vaccine imports into the United States dropped sharply to X tons in 2022, falling by -15.5% against the previous year. In general, total imports indicated a resilient expansion from 2012 to 2022: its volume increased at an average annual rate of +5.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +45.0% against 2017 indices. The most prominent rate of growth was recorded in 2014 with an increase of 34%. Over the period under review, imports reached the maximum at X tons in 2021, and then fell remarkably in the following year.

In value terms, vaccine imports fell to $X in 2022. Over the period under review, imports, however, showed a strong expansion. The most prominent rate of growth was recorded in 2013 when imports increased by 57%. Imports peaked at $X in 2021, and then declined in the following year.

Imports by Country

Belgium (X tons), Germany (X tons) and Ireland (X tons) were the main suppliers of vaccine imports to the United States, together accounting for 72% of total imports.

From 2012 to 2022, the biggest increases were recorded for Ireland (with a CAGR of +105.6%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Belgium ($X), Germany ($X) and Ireland ($X) appeared to be the largest vaccine suppliers to the United States, with a combined 84% share of total imports.

In terms of the main suppliers, Ireland, with a CAGR of +120.5%, 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

In 2022, the average vaccine import price amounted to $X per kg, growing by 12% against the previous year. Over the period under review, the import price enjoyed a buoyant increase. The most prominent rate of growth was recorded in 2013 an increase of 49%. Over the period under review, average import prices hit record highs in 2022 and is likely to see gradual growth in the near future.

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 Ireland ($X per kg), while the price for Taiwan (Chinese) ($X per kg) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+14.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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