United Kingdom: Vaccine Market 2024

Vaccine Market Size in the UK

The UK vaccine market reduced rapidly to $X in 2022, with a decrease of -15.8% against the previous year. Over the period under review, the total consumption indicated a strong expansion from 2012 to 2022: its value increased at an average annual rate of +5.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +30.7% against 2020 indices. As a result, consumption reached the peak level of $X, and then shrank dramatically in the following year.

Vaccine Production in the UK

In value terms, vaccine production amounted to $X in 2022 estimated in export price. Over the period under review, production, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2018 with an increase of 39%. Vaccine production peaked at $X in 2016; however, from 2017 to 2022, production remained at a lower figure.

Vaccine Exports

Exports from the UK

In 2022, overseas shipments of vaccines for human medicine decreased by -12.1% to X tons for the first time since 2019, thus ending a two-year rising trend. Over the period under review, exports saw a deep contraction. The pace of growth appeared the most rapid in 2017 with an increase of 491% against the previous year. The exports peaked at X tons in 2015; however, from 2016 to 2022, the exports remained at a lower figure.

In value terms, vaccine exports expanded notably to $X in 2022. In general, exports, however, enjoyed noticeable growth. The pace of growth was the most pronounced in 2017 when exports increased by 503% against the previous year. The exports peaked at $X in 2015; however, from 2016 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Belgium (X tons), the United States (X tons) and China (X tons) were the main destinations of vaccine exports from the UK, together comprising 48% of total exports. The Netherlands, Saudi Arabia, Algeria, Canada, Mexico, Ireland, Spain, Germany, South Korea and Brazil lagged somewhat behind, together accounting for a further 33%.

From 2012 to 2022, the biggest increases were recorded for Mexico (with a CAGR of +183.0%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) emerged as the key foreign market for vaccines for human medicine exports from the UK, comprising 45% of total exports. The second position in the ranking was held by Belgium ($X), with a 16% share of total exports. It was followed by the Netherlands, with a 7.3% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States totaled +47.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Belgium (+25.4% per year) and the Netherlands (+113.9% per year).

Export Prices by Country

In 2022, the average vaccine export price amounted to $X per ton, increasing by 22% against the previous year. Overall, the export price showed a remarkable increase. The most prominent rate of growth was recorded in 2014 when the average export price increased by 57%. The export price peaked at $X per ton in 2018; however, from 2019 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Brazil ($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 (+8.8%), while the prices for the other major destinations experienced more modest paces of growth.

Vaccine Imports

Imports into the UK

After two years of growth, supplies from abroad of vaccines for human medicine decreased by -24.2% to X tons in 2022. In general, imports, however, showed a noticeable increase. The pace of growth was the most pronounced in 2016 with an increase of 80% against the previous year. Over the period under review, imports hit record highs at X tons in 2021, and then declined notably in the following year.

In value terms, vaccine imports shrank markedly to $X in 2022. Over the period under review, imports, however, enjoyed a strong expansion. The most prominent rate of growth was recorded in 2021 with an increase of 79%. As a result, imports reached the peak of $X, and then fell sharply in the following year.

Imports by Country

Belgium (X tons), Spain (X tons) and the United States (X tons) were the main suppliers of vaccine imports to the UK, with a combined 62% share of total imports. France, the Netherlands, Ireland, Germany and Italy lagged somewhat behind, together accounting for a further 37%.

From 2012 to 2022, the biggest increases were recorded for Ireland (with a CAGR of +85.7%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Belgium ($X) constituted the largest supplier of vaccines for human medicine to the UK, comprising 62% of total imports. The second position in the ranking was taken by Ireland ($X), with a 15% share of total imports. It was followed by Spain, with a 12% share.

From 2012 to 2022, the average annual growth rate of value from Belgium stood at +27.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Ireland (+94.3% per year) and Spain (+50.5% per year).

Import Prices by Country

In 2022, the average vaccine import price amounted to $X per ton, picking up by 3% against the previous year. In general, import price indicated a perceptible increase from 2012 to 2022: its price increased at an average annual rate of +2.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, vaccine import price increased by +24.6% against 2020 indices. The growth pace was the most rapid in 2017 when the average import price increased by 51%. Over the period under review, average import prices reached the peak figure at $X per ton in 2019; however, from 2020 to 2022, import prices stood at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Belgium (+7.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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