Vietnam: Vaccine Market 2025

Vaccine Market Size in Vietnam

In 2022, after four years of growth, there was decline in the Vietnamese vaccine market, when its value decreased by -2.9% to $X. Overall, consumption, however, continues to indicate a significant increase. Vaccine consumption peaked at $X in 2021, and then reduced slightly in the following year.

Vaccine Exports

Exports from Vietnam

After two years of decline, overseas shipments of vaccines for human medicine increased by 71% to X kg in 2022. Over the period under review, exports, however, saw a perceptible downturn. The growth pace was the most rapid in 2019 with an increase of 289% against the previous year. Over the period under review, the exports hit record highs at X kg in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, vaccine exports surged to $X in 2022. Overall, exports, however, showed a noticeable shrinkage. The pace of growth was the most pronounced in 2019 when exports increased by 411% against the previous year. As a result, the exports reached the peak of $X. From 2020 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Bangladesh (X kg) was the main destination for vaccine exports from Vietnam, with a 93% share of total exports. Moreover, vaccine exports to Bangladesh exceeded the volume sent to the second major destination, Lao People's Democratic Republic (X kg), more than tenfold.

From 2012 to 2022, the average annual growth rate of volume to Bangladesh stood at +13.6%.

In value terms, Bangladesh ($X) remains the key foreign market for vaccines for human medicine exports from Vietnam, comprising 93% of total exports. The second position in the ranking was taken by Lao People's Democratic Republic ($X), with a 6.1% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Bangladesh stood at -5.5%.

Export Prices by Country

In 2022, the average vaccine export price amounted to $X per ton, with a decrease of -15.2% against the previous year. In general, export price indicated a pronounced expansion from 2012 to 2022: its price increased at an average annual rate of +2.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, vaccine export price decreased by -42.6% against 2019 indices. The most prominent rate of growth was recorded in 2019 an increase of 31%. As a result, the export price reached the peak level of $X per ton. From 2020 to 2022, the average export prices remained at a somewhat lower figure.

Average prices varied noticeably for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Bangladesh ($X per ton), while the average price for exports to Lao People's Democratic Republic stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Cambodia (+11.5%), while the prices for the other major destinations experienced more modest paces of growth.

Vaccine Imports

Imports into Vietnam

In 2022, after four years of growth, there was significant decline in overseas purchases of vaccines for human medicine, when their volume decreased by -6.8% to X tons. Overall, imports, however, continue to indicate a buoyant expansion. The most prominent rate of growth was recorded in 2019 when imports increased by 197%. Imports peaked at X tons in 2021, and then reduced in the following year.

In value terms, vaccine imports shrank modestly to $X in 2022. Over the period under review, imports, however, showed a significant expansion. The pace of growth was the most pronounced in 2019 with an increase of 260%. Over the period under review, imports hit record highs at $X in 2021, and then reduced modestly in the following year.

Imports by Country

China (X tons), Belgium (X tons) and the United States (X tons) were the main suppliers of vaccine imports to Vietnam, together accounting for 41% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by China (with a CAGR of +147.1%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X), Belgium ($X) and the United States ($X) constituted the largest vaccine suppliers to Vietnam, together accounting for 48% of total imports.

China, with a CAGR of +143.5%, saw the highest growth rate of 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 2022, the average vaccine import price amounted to $X per ton, rising by 6% against the previous year. Overall, the import price enjoyed a prominent increase. The most prominent rate of growth was recorded in 2016 an increase of 72% against the previous year. Over the period under review, average import prices reached the maximum at $X per ton in 2020; however, from 2021 to 2022, import prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+21.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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