Asia: Vaccine Market 2024

Vaccine Market Size in Asia

In 2023, the Asian vaccine market decreased by X% to $X, falling for the second consecutive year after three years of growth. Over the period under review, consumption, however, saw resilient growth. As a result, consumption attained the peak level of $X. From 2022 to 2023, the growth of the market remained at a lower figure.

Vaccine Production in Asia

In value terms, vaccine production rose significantly to $X in 2023 estimated in export price. Overall, production continues to indicate a resilient increase. The pace of growth appeared the most rapid in 2019 when the production volume increased by X%. The level of production peaked at $X in 2021; however, from 2022 to 2023, production remained at a lower figure.

Vaccine Exports

Exports in Asia

In 2023, the amount of vaccines for human medicine exported in Asia skyrocketed to X tons, rising by X% compared with 2022 figures. In general, exports, however, recorded a relatively flat trend pattern. Over the period under review, the exports reached the peak figure at X tons in 2021; however, from 2022 to 2023, the exports stood at a somewhat lower figure.

In value terms, vaccine exports surged to $X in 2023. Over the period under review, exports enjoyed a perceptible expansion. The level of export peaked at $X in 2021; however, from 2022 to 2023, the exports failed to regain momentum.

Exports by Country

In 2023, India (X tons) was the key exporter of vaccines for human medicine, committing X% of total exports. China (X tons) took the second position in the ranking, distantly followed by South Korea (X tons) and Indonesia (X tons). All these countries together held approx. X% share of total exports. Japan (X tons), Hong Kong SAR (X tons) and Taiwan (Chinese) (X tons) followed a long way behind the leaders.

India experienced a relatively flat trend pattern with regard to volume of exports of vaccines for human medicine. At the same time, Taiwan (Chinese) (X%), China (X%), Hong Kong SAR (X%) and Japan (X%) displayed positive paces of growth. Moreover, Taiwan (Chinese) emerged as the fastest-growing exporter exported in Asia, with a CAGR of X% from 2012-2023. By contrast, Indonesia (X%) and South Korea (X%) illustrated a downward trend over the same period. While the share of China (X p.p.), India (X p.p.), Taiwan (Chinese) (X p.p.) and Hong Kong SAR (X p.p.) increased significantly in terms of the total exports from 2012-2023, the share of Indonesia (X p.p.) and South Korea (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, India ($X), South Korea ($X) and China ($X) appeared to be the countries with the highest levels of exports in 2023, with a combined X% share of total exports. Japan, Hong Kong SAR, Taiwan (Chinese) and Indonesia lagged somewhat behind, together comprising a further X%.

In terms of the main exporting countries, Taiwan (Chinese), with a CAGR of X%, 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 2023, the export price in Asia amounted to $X per ton, shrinking by X% against the previous year. Over the period under review, the export price, however, enjoyed a moderate increase. The pace of growth was the most pronounced in 2020 when the export price increased by X%. The level of export peaked at $X per ton in 2022, and then dropped significantly in the following year.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Japan ($X per ton), while Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by South Korea (X%), while the other leaders experienced more modest paces of growth.

Vaccine Imports

Imports in Asia

In 2023, overseas purchases of vaccines for human medicine decreased by X% to X tons, falling for the second consecutive year after three years of growth. Over the period under review, imports, however, continue to indicate a prominent increase. The growth pace was the most rapid in 2021 when imports increased by X%. As a result, imports reached the peak of X tons. From 2022 to 2023, the growth of imports remained at a lower figure.

In value terms, vaccine imports declined to $X in 2023. Overall, imports, however, saw resilient growth. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. As a result, imports reached the peak of $X. From 2022 to 2023, the growth of imports remained at a somewhat lower figure.

Imports by Country

Pakistan prevails in imports structure, accounting for X tons, which was approx. X% of total imports in 2023. Bangladesh (X tons), Japan (X tons), Turkey (X tons), South Korea (X tons), China (X tons), the United Arab Emirates (X tons), Israel (X tons) and Saudi Arabia (X tons) took a minor share of total imports.

From 2012 to 2023, average annual rates of growth with regard to vaccine imports into Pakistan stood at X%. At the same time, the United Arab Emirates (X%), Bangladesh (X%), Israel (X%), South Korea (X%), Turkey (X%), Japan (X%), China (X%) and Saudi Arabia (X%) displayed positive paces of growth. Moreover, the United Arab Emirates emerged as the fastest-growing importer imported in Asia, with a CAGR of X% from 2012-2023. While the share of Pakistan (X p.p.) increased significantly in terms of the total imports from 2012-2023, the share of China (X p.p.) and Saudi Arabia (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest vaccine importing markets in Asia were Japan ($X), Pakistan ($X) and South Korea ($X), together comprising X% of total imports. Turkey, Bangladesh, China, Saudi Arabia, the United Arab Emirates and Israel lagged somewhat behind, together comprising a further X%.

In terms of the main importing countries, Bangladesh, with a CAGR of X%, recorded 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

The import price in Asia stood at $X per ton in 2023, growing by X% against the previous year. In general, the import price posted a prominent increase. The growth pace was the most rapid in 2022 an increase of X%. Over the period under review, import prices attained the peak figure in 2023 and is expected to retain growth in the near future.

There were significant differences in the average prices amongst the major importing countries. In 2023, amid the top importers, the country with the highest price was Japan ($X,915 per ton), while Pakistan ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Bangladesh (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform