U.S.: Veterinary Medicine Vaccines Market 2024

Veterinary Medicine Vaccines Market Size in the U.S.

The U.S. veterinary medicine vaccines market reduced to $X in 2021, declining by -5.7% against the previous year. Over the period under review, consumption, however, enjoyed a buoyant increase. Over the period under review, the market hit record highs at $X in 2020, and then shrank in the following year.

Veterinary Medicine Vaccines Production in the U.S.

In value terms, veterinary medicine vaccines production reduced slightly to $X in 2021. In general, production, however, showed a prominent increase. The most prominent rate of growth was recorded in 2015 with an increase of 40%. Over the period under review, production attained the maximum level at $X in 2020, and then fell in the following year.

Veterinary Medicine Vaccines Exports

Exports from the U.S.

In 2021, overseas shipments of vaccines for veterinary medicine increased by 10% to X tons, rising for the second consecutive year after three years of decline. In general, exports, however, recorded a perceptible decrease. The exports peaked at X tons in 2013; however, from 2014 to 2021, the exports failed to regain momentum.

In value terms, veterinary medicine vaccines exports surged to $X in 2021. Overall, exports, however, saw a noticeable downturn. The exports peaked at $X in 2013; however, from 2014 to 2021, the exports failed to regain momentum.

Exports by Country

China (X tons), Canada (X tons) and Mexico (X tons) were the main destinations of veterinary medicine vaccines exports from the United States, with a combined 38% share of total exports. Brazil, Belgium, Thailand, Spain, Vietnam, South Korea, the Philippines, Japan, Germany and Argentina lagged somewhat behind, together comprising a further 37%.

From 2012 to 2021, the biggest increases were recorded for Vietnam (with a CAGR of +4.5%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for veterinary medicine vaccines exported from the United States were Canada ($X), Mexico ($X) and China ($X), together comprising 37% of total exports.

Among the main countries of destination, Canada, with a CAGR of +2.9%, recorded the highest rates of growth with regard to 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

The average veterinary medicine vaccines export price stood at $X per ton in 2021, growing by 4.5% against the previous year. Overall, export price indicated a mild increase from 2012 to 2021: its price increased at an average annual rate of +1.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, veterinary medicine vaccines export price decreased by -30.9% against 2015 indices. The pace of growth appeared the most rapid in 2014 when the average export price increased by 40%. Over the period under review, the average export prices attained the peak figure at $X per ton in 2015; however, from 2016 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major external markets. In 2021, the country with the highest price was Argentina ($X per ton), while the average price for exports to South Korea ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Canada (+11.7%), while the prices for the other major destinations experienced more modest paces of growth.

Veterinary Medicine Vaccines Imports

Imports into the U.S.

In 2021, overseas purchases of vaccines for veterinary medicine decreased by -0.6% to X tons, falling for the third year in a row after four years of growth. Over the period under review, imports, however, saw a measured expansion. The pace of growth appeared the most rapid in 2017 with an increase of 103% against the previous year. Over the period under review, imports attained the maximum at X tons in 2018; however, from 2019 to 2021, imports failed to regain momentum.

In value terms, veterinary medicine vaccines imports expanded sharply to $X in 2021. Overall, imports, however, posted a resilient expansion. The most prominent rate of growth was recorded in 2015 with an increase of 89% against the previous year. Imports peaked at $X in 2019; however, from 2020 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, Canada (X tons) constituted the largest veterinary medicine vaccines supplier to the United States, accounting for a 63% share of total imports. Moreover, veterinary medicine vaccines imports from Canada exceeded the figures recorded by the second-largest supplier, New Zealand (X tons), twofold. The third position in this ranking was held by South Africa (X tons), with a 4.5% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Canada stood at +14.3%. The remaining supplying countries recorded the following average annual rates of imports growth: New Zealand (-6.8% per year) and South Africa (+91.1% per year).

In value terms, Canada ($X) constituted the largest supplier of vaccines for veterinary medicine to the United States, comprising 77% of total imports. The second position in the ranking was held by New Zealand ($X), with a 9.6% share of total imports. It was followed by Australia, with a 3.5% share.

From 2012 to 2021, the average annual growth rate of value from Canada stood at +14.0%. The remaining supplying countries recorded the following average annual rates of imports growth: New Zealand (-7.8% per year) and Australia (+5.7% per year).

Import Prices by Country

In 2021, the average veterinary medicine vaccines import price amounted to $X per ton, surging by 16% against the previous year. Overall, the import price enjoyed a mild expansion. The pace of growth was the most pronounced in 2019 when the average import price increased by 80%. Over the period under review, average import prices hit record highs in 2021 and is expected to retain growth in the near future.

Prices varied noticeably country of origin: the country with the highest price was Australia ($X per ton), while the price for New Zealand ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Brazil (+29.6%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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