Cuba: Veterinary Medicine Vaccines Market 2024

Veterinary Medicine Vaccines Market Size in Cuba

The Cuban veterinary medicine vaccines market skyrocketed to $X in 2021, rising by 17% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption showed a abrupt shrinkage. Veterinary medicine vaccines consumption peaked at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Veterinary Medicine Vaccines Exports

Exports from Cuba

In 2021, approx. X kg of vaccines for veterinary medicine were exported from Cuba; jumping by 43% against 2020. Overall, exports, however, saw a perceptible decrease. The most prominent rate of growth was recorded in 2017 with an increase of 249%. Over the period under review, the exports hit record highs at X kg in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, veterinary medicine vaccines exports soared to $X in 2021. In general, exports, however, showed a mild slump. The growth pace was the most rapid in 2017 when exports increased by 268%. As a result, the exports attained the peak of $X. From 2018 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

Brazil (X kg), Ecuador (X kg) and Panama (X kg) were the main destinations of veterinary medicine vaccines exports from Cuba, together accounting for 100% of total exports.

From 2012 to 2021, the biggest increases were recorded for Ecuador (with a CAGR of +5,333.3%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Brazil ($X) remains the key foreign market for vaccines for veterinary medicine exports from Cuba, comprising 57% of total exports. The second position in the ranking was taken by Ecuador ($X), with a 28% share of total exports.

From 2012 to 2021, the average annual growth rate of value to Brazil totaled +49.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Ecuador (+6,174.5% per year) and Panama (+164.0% per year).

Export Prices by Country

The average veterinary medicine vaccines export price stood at $X per ton in 2021, falling by -3.4% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.8%. The pace of growth was the most pronounced in 2016 when the average export price increased by 48%. The export price peaked at $X per ton in 2017; however, from 2018 to 2021, the export prices remained at a lower figure.

Average prices varied somewhat for the major overseas markets. In 2021, the country with the highest price was Brazil ($X per ton), while the average price for exports to Panama ($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 the Dominican Republic (+133.7%), while the prices for the other major destinations experienced more modest paces of growth.

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Veterinary Medicine Vaccines Imports

Imports into Cuba

In 2021, overseas purchases of vaccines for veterinary medicine increased by 3.1% to X tons for the first time since 2017, thus ending a three-year declining trend. Over the period under review, imports, however, recorded a deep downturn. The pace of growth was the most pronounced in 2017 when imports increased by 163% against the previous year. Imports peaked at X tons in 2012; however, from 2013 to 2021, imports remained at a lower figure.

In value terms, veterinary medicine vaccines imports surged to $X in 2021. In general, imports, however, showed a abrupt contraction. The most prominent rate of growth was recorded in 2017 when imports increased by 52%. Imports peaked at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Uruguay (X tons) constituted the largest supplier of veterinary medicine vaccines to Cuba, with a 47% share of total imports. Moreover, veterinary medicine vaccines imports from Uruguay exceeded the figures recorded by the second-largest supplier, Spain (X kg), threefold. Brazil (X kg) ranked third in terms of total imports with a 17% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Uruguay amounted to +9.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (-8.4% per year) and Brazil (-21.7% per year).

In value terms, Spain ($X), Uruguay ($X) and Brazil ($X) constituted the largest veterinary medicine vaccines suppliers to Cuba, with a combined 63% share of total imports.

Uruguay, with a CAGR of -0.0%, 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 a decline.

Import Prices by Country

The average veterinary medicine vaccines import price stood at $X per ton in 2021, surging by 34% against the previous year. In general, import price indicated a buoyant increase from 2012 to 2021: its price increased at an average annual rate of +5.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, veterinary medicine vaccines import price increased by +77.9% against 2018 indices. The most prominent rate of growth was recorded in 2016 when the average import price increased by 57% against the previous year. As a result, import price reached the peak level of $X per ton. From 2017 to 2021, the average import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was France ($X per ton), while the price for Uruguay ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Mexico (+15.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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