Uruguay: Veterinary Medicine Vaccines Market 2024

Veterinary Medicine Vaccines Market Size in Uruguay

For the sixth year in a row, the Uruguayan veterinary medicine vaccines market recorded growth in sales value, which increased by 17% to $X in 2021. Over the period under review, consumption, however, recorded a strong expansion. Veterinary medicine vaccines consumption peaked in 2021 and is likely to continue growth in the immediate term.

Veterinary Medicine Vaccines Production in Uruguay

In value terms, veterinary medicine vaccines production expanded modestly to $X in 2021 estimated in export price. In general, the total production indicated temperate growth from 2012 to 2021: its value increased at an average annual rate of +3.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -4.0% against 2019 indices. The pace of growth was the most pronounced in 2017 with an increase of 39% against the previous year. Over the period under review, production attained the maximum level at $X in 2019; however, from 2020 to 2021, production stood at a somewhat lower figure.

Veterinary Medicine Vaccines Exports

Exports from Uruguay

In 2021, the amount of vaccines for veterinary medicine exported from Uruguay rose to X tons, with an increase of 1.6% on 2020 figures. In general, total exports indicated a strong increase from 2012 to 2021: its volume increased at an average annual rate of +5.0% 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 +94.8% against 2015 indices. The most prominent rate of growth was recorded in 2016 when exports increased by 30%. The exports peaked in 2021 and are expected to retain growth in years to come.

In value terms, veterinary medicine vaccines exports skyrocketed to $X in 2021. Over the period under review, total exports indicated a prominent increase from 2012 to 2021: its value increased at an average annual rate of +6.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +113.5% against 2015 indices. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Brazil (X tons) was the main destination for veterinary medicine vaccines exports from Uruguay, with a 46% share of total exports. Moreover, veterinary medicine vaccines exports to Brazil exceeded the volume sent to the second major destination, South Africa (X tons), threefold. Colombia (X tons) ranked third in terms of total exports with a 9.6% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Brazil amounted to +3.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: South Africa (+8.8% per year) and Colombia (+12.7% per year).

In value terms, the largest markets for veterinary medicine vaccines exported from Uruguay were Brazil ($X), South Africa ($X) and Paraguay ($X), together accounting for 73% of total exports. Bolivia, Colombia, Venezuela and the United Arab Emirates lagged somewhat behind, together accounting for a further 14%.

The United Arab Emirates, with a CAGR of +70.7%, saw the highest growth rate of the value of exports, in terms of the main countries of destination 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, increasing by 24% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.9%. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major foreign markets. In 2021, the country with the highest price was Bolivia ($X per ton), while the average price for exports to the United Arab Emirates ($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 Bolivia (+14.3%), while the prices for the other major destinations experienced more modest paces of growth.

Veterinary Medicine Vaccines Imports

Imports into Uruguay

Veterinary medicine vaccines imports into Uruguay shrank significantly to X tons in 2021, which is down by -23% on the previous year. Overall, imports, however, recorded a buoyant expansion. The pace of growth was the most pronounced in 2020 with an increase of 90% against the previous year. As a result, imports reached the peak of X tons, and then contracted markedly in the following year.

In value terms, veterinary medicine vaccines imports rose rapidly to $X in 2021. In general, imports, however, enjoyed a resilient increase. The most prominent rate of growth was recorded in 2020 when imports increased by 190%. Imports peaked in 2021 and are likely to continue growth in years to come.

Imports by Country

Argentina (X tons), Colombia (X tons) and the United States (X tons) were the main suppliers of veterinary medicine vaccines imports to Uruguay, with a combined 64% share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Colombia (with a CAGR of +211.6%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest veterinary medicine vaccines suppliers to Uruguay were Colombia ($X), Brazil ($X) and the United States ($X), together accounting for 65% of total imports.

Colombia, with a CAGR of +414.0%, recorded the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average veterinary medicine vaccines import price amounted to $X per ton, rising by 44% against the previous year. Over the period under review, the import price saw a buoyant increase. The growth pace was the most rapid in 2020 an increase of 53%. Over the period under review, average import prices attained the maximum in 2021 and is likely to continue growth in years to come.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Colombia (+64.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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