Hungary: Vaccine Market 2024

Vaccine Market Size in Hungary

After two years of growth, the Hungarian vaccine market decreased by X% to $X in 2022. In general, consumption, however, saw a resilient increase. Vaccine consumption peaked at $X in 2021, and then dropped notably in the following year.

Vaccine Production in Hungary

In value terms, vaccine production expanded slightly to $X in 2022 estimated in export price. In general, production enjoyed resilient growth. The growth pace was the most rapid in 2017 with an increase of X% against the previous year. Over the period under review, production attained the peak level at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Vaccine Exports

Exports from Hungary

In 2022, the amount of vaccines for human medicine exported from Hungary skyrocketed to X tons, surging by X% compared with the year before. Overall, exports posted a significant increase. The most prominent rate of growth was recorded in 2018 with an increase of X% against the previous year. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in the near future.

In value terms, vaccine exports shrank to $X in 2022. Over the period under review, exports continue to indicate prominent growth. The most prominent rate of growth was recorded in 2014 with an increase of X% against the previous year. The exports peaked at $X in 2021, and then fell in the following year.

Exports by Country

Germany (X tons), the Netherlands (X tons) and Austria (X tons) were the main destinations of vaccine exports from Hungary, together comprising X% of total exports.

From 2012 to 2022, the biggest increases were recorded for the Netherlands (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X) remains the key foreign market for vaccines for human medicine exports from Hungary, comprising X% of total exports. The second position in the ranking was held by Poland ($X), with a X% share of total exports. It was followed by Ukraine, with an X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Germany stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Poland (X% per year) and Ukraine (X% per year).

Export Prices by Country

The average vaccine export price stood at $X per kg in 2022, shrinking by X% against the previous year. In general, the export price recorded a deep reduction. The pace of growth appeared the most rapid in 2014 an increase of X%. As a result, the export price reached the peak level of $X per kg. From 2015 to 2022, the average export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Ukraine ($X per kg), while the average price for exports to the Netherlands ($X per kg) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Ukraine (X%), while the prices for the other major destinations experienced a decline.

Vaccine Imports

Imports into Hungary

Vaccine imports into Hungary shrank sharply to X tons in 2022, with a decrease of X% on the previous year's figure. Over the period under review, imports, however, posted a remarkable increase. The growth pace was the most rapid in 2019 with an increase of X%. Imports peaked at X tons in 2021, and then reduced notably in the following year.

In value terms, vaccine imports contracted notably to $X in 2022. Overall, imports, however, showed significant growth. The pace of growth was the most pronounced in 2021 with an increase of X% against the previous year. As a result, imports attained the peak of $X, and then fell rapidly in the following year.

Imports by Country

In 2022, Belgium (X tons) constituted the largest vaccine supplier to Hungary, with a X% share of total imports. Moreover, vaccine imports from Belgium exceeded the figures recorded by the second-largest supplier, the Netherlands (X tons), twofold. France (X tons) ranked third in terms of total imports with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Belgium stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (X% per year) and France (X% per year).

In value terms, Belgium ($X) constituted the largest supplier of vaccines for human medicine to Hungary, comprising X% of total imports. The second position in the ranking was taken by the Netherlands ($X), with a X% share of total imports. It was followed by Germany, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Belgium amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (X% per year) and Germany (X% per year).

Import Prices by Country

The average vaccine import price stood at $X per kg in 2022, rising by X% against the previous year. Over the period under review, the import price posted a prominent expansion. The most prominent rate of growth was recorded in 2020 when the average import price increased by X% against the previous year. Over the period under review, average import prices reached the peak figure in 2022 and is expected to retain growth in the immediate term.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Slovenia (X.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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