ECOWAS: Vaccine Market 2024

Vaccine Market Size in ECOWAS

In 2022, the ECOWAS vaccine market decreased by X% to $X, falling for the second year in a row after three years of growth. Overall, consumption, however, recorded strong growth. As a result, consumption reached the peak level of $X. From 2021 to 2022, the growth of the market failed to regain momentum.

Vaccine Production in ECOWAS

In value terms, vaccine production totaled $X in 2022 estimated in export price. The total production indicated a pronounced expansion from 2012 to 2022: its value 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, production decreased by X% against 2020 indices. The growth pace was the most rapid in 2014 with an increase of X%. The level of production peaked at $X in 2015; however, from 2016 to 2022, production stood at a somewhat lower figure.

Vaccine Exports

Exports in ECOWAS

In 2022, overseas shipments of vaccines for human medicine were finally on the rise to reach X tons for the first time since 2018, thus ending a three-year declining trend. Overall, exports recorded buoyant growth. The growth pace was the most rapid in 2013 with an increase of X%. Over the period under review, the exports reached the peak figure at X tons in 2016; however, from 2017 to 2022, the exports remained at a lower figure.

In value terms, vaccine exports reduced to $X in 2022. In general, exports, however, recorded a abrupt contraction. The most prominent rate of growth was recorded in 2013 when exports increased by X% against the previous year. The level of export peaked at $X in 2016; however, from 2017 to 2022, the exports failed to regain momentum.

Exports by Country

In 2022, Ghana (X kg) was the key exporter of vaccines for human medicine, constituting X% of total exports. It was distantly followed by Senegal (X kg), achieving a X% share of total exports.

Ghana was also the fastest-growing in terms of the vaccines for human medicine exports, with a CAGR of X% from 2012 to 2022. At the same time, Senegal (X%) displayed positive paces of growth. While the share of Ghana (X p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest vaccine supplying countries in ECOWAS were Senegal ($X) and Ghana ($X).

In terms of the main exporting countries, Ghana, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, over the period under review.

Export Prices by Country

In 2022, the export price in ECOWAS amounted to $X per ton, reducing by X% against the previous year. Overall, the export price recorded a abrupt downturn. The pace of growth appeared the most rapid in 2018 when the export price increased by X% against the previous year. Over the period under review, the export prices reached the peak figure at $X per ton in 2012; however, from 2013 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 Senegal ($X per ton), while Ghana totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Senegal (X%).

Vaccine Imports

Imports in ECOWAS

In 2022, supplies from abroad of vaccines for human medicine decreased by X% to X tons, falling for the second year in a row after three years of growth. Over the period under review, imports, however, posted a prominent increase. The most prominent rate of growth was recorded in 2019 when imports increased by X%. The volume of import peaked at X tons in 2020; however, from 2021 to 2022, imports failed to regain momentum.

In value terms, vaccine imports declined rapidly to $X in 2022. In general, imports, however, continue to indicate a prominent expansion. The pace of growth appeared the most rapid in 2019 when imports increased by X% against the previous year. The level of import peaked at $X in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Ghana prevails in imports structure, finishing at X tons, which was approx. X% of total imports in 2022. It was distantly followed by Nigeria (X tons), mixing up a X% share of total imports. The following importers - Cote d'Ivoire (X tons), Mali (X tons), Niger (X tons) and Burkina Faso (X tons) - together made up X% of total imports.

Ghana was also the fastest-growing in terms of the vaccines for human medicine imports, with a CAGR of X% from 2012 to 2022. At the same time, Nigeria (X%), Cote d'Ivoire (X%), Niger (X%), Burkina Faso (X%) and Mali (X%) displayed positive paces of growth. While the share of Ghana (X p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Cote d'Ivoire (X p.p.), Burkina Faso (X p.p.), Niger (X p.p.) and Mali (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Ghana ($X), Niger ($X) and Cote d'Ivoire ($X) were the countries with the highest levels of imports in 2022, with a combined X% share of total imports.

Niger, with a CAGR of X%, saw 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

In 2022, the import price in ECOWAS amounted to $X per ton, growing by X% against the previous year. In general, the import price, however, saw a abrupt decrease. The most prominent rate of growth was recorded in 2013 when the import price increased by X% against the previous year. Over the period under review, import prices hit record highs at $X per ton in 2015; however, from 2016 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Niger ($X per ton), while Ghana ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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