ASEAN: Vaccine Market 2024

Vaccine Market Size in ASEAN

In 2022, the ASEAN vaccine market decreased by X% to $X for the first time since 2017, thus ending a four-year rising trend. In general, consumption, however, continues to indicate a remarkable increase. As a result, consumption reached the peak level of $X, and then contracted dramatically in the following year.

Vaccine Production in ASEAN

In value terms, vaccine production dropped to $X in 2022 estimated in export price. Over the period under review, production, however, continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2014 when the production volume increased by X%. As a result, production reached the peak level of $X. From 2015 to 2022, production growth remained at a somewhat lower figure.

Vaccine Exports

Exports in ASEAN

In 2022, approx. X tons of vaccines for human medicine were exported in ASEAN; with a decrease of X% on the previous year's figure. In general, exports recorded a abrupt downturn. The growth pace was the most rapid in 2021 when exports increased by X%. The volume of export peaked at X tons in 2015; however, from 2016 to 2022, the exports stood at a somewhat lower figure.

In value terms, vaccine exports fell sharply to $X in 2022. Over the period under review, exports saw a abrupt setback. The growth pace was the most rapid in 2021 with an increase of X% against the previous year. The level of export peaked at $X in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

In 2022, Indonesia (X tons) was the main exporter of vaccines for human medicine, making up X% of total exports. Thailand (X tons) took the second position in the ranking, distantly followed by Malaysia (X tons) and Singapore (X tons). All these countries together took approx. X% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Malaysia (with a CAGR of X%), while the other leaders experienced mixed trends in the exports figures.

In value terms, Singapore ($X), Thailand ($X) and Indonesia ($X) appeared to be the countries with the highest levels of exports in 2022, together comprising X% of total exports.

Thailand, with a CAGR of X%, saw the highest growth rate of the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

In 2022, the export price in ASEAN amounted to $X per ton, growing by X% against the previous year. Export price indicated a temperate expansion from 2012 to 2022: its price increased at an average annual rate of X% 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 increased by X% against 2020 indices. The growth pace was the most rapid in 2021 an increase of X%. The level of export peaked at $X per ton in 2018; however, from 2019 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Singapore ($X per ton), while Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Thailand (X%), while the other leaders experienced more modest paces of growth.

Vaccine Imports

Imports in ASEAN

After two years of growth, purchases abroad of vaccines for human medicine decreased by X% to X tons in 2022. In general, imports, however, showed a strong increase. The growth pace was the most rapid in 2021 when imports increased by X% against the previous year. As a result, imports reached the peak of X tons, and then plummeted in the following year.

In value terms, vaccine imports contracted markedly to $X in 2022. Over the period under review, imports, however, saw a significant expansion. The most prominent rate of growth was recorded in 2021 when imports increased by X%. As a result, imports attained the peak of $X, and then fell rapidly in the following year.

Imports by Country

Malaysia represented the main importer of vaccines for human medicine in ASEAN, with the volume of imports reaching X tons, which was approx. X% of total imports in 2022. The Philippines (X tons) ranks second in terms of the total imports with a X% share, followed by Thailand (X%), Myanmar (X%) and Vietnam (X%). The following importers - Indonesia (X tons) and Cambodia (X tons) - together made up X% of total imports.

From 2012 to 2022, average annual rates of growth with regard to vaccine imports into Malaysia stood at X%. At the same time, Myanmar (X%), Thailand (X%), Cambodia (X%), Vietnam (X%), the Philippines (X%) and Indonesia (X%) displayed positive paces of growth. Moreover, Myanmar emerged as the fastest-growing importer imported in ASEAN, with a CAGR of X% from 2012-2022. Myanmar (X p.p.) and Thailand (X p.p.) significantly strengthened its position in terms of the total imports, while Indonesia, Vietnam, Malaysia and the Philippines saw its share reduced by X%, X%, X% and X% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest vaccine importing markets in ASEAN were Thailand ($X), the Philippines ($X) and Vietnam ($X), with a combined X% share of total imports. Malaysia, Indonesia, Cambodia and Myanmar lagged somewhat behind, together accounting for a further X%.

Myanmar, with a CAGR of X%, recorded the highest growth rate of the value of imports, among the main importing countries 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 ASEAN stood at $X per ton in 2022, with an increase of X% against the previous year. In general, the import price saw a prominent increase. The pace of growth was the most pronounced in 2019 an increase of X% against the previous year. The level of import peaked in 2022 and is likely to see steady growth in the near future.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Indonesia ($X per ton), while Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Cambodia (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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