GCC: Vaccine Market 2024

Vaccine Market Size in GCC

The GCC vaccine market expanded notably to $X in 2023, growing by X% against the previous year. Over the period under review, consumption saw a resilient expansion. As a result, consumption attained the peak level of $X; afterwards, it flattened through to 2023.

Vaccine Production in GCC

In value terms, vaccine production expanded markedly to $X in 2023 estimated in export price. In general, production showed a resilient expansion. The pace of growth appeared the most rapid in 2020 when the production volume increased by X% against the previous year. The level of production peaked at $X in 2021; however, from 2022 to 2023, production stood at a somewhat lower figure.

Vaccine Exports

Exports in GCC

After two years of decline, shipments abroad of vaccines for human medicine increased by X% to X tons in 2023. Overall, exports, however, recorded a deep setback. The most prominent rate of growth was recorded in 2016 when exports increased by X% against the previous year. The volume of export peaked at X tons in 2012; however, from 2013 to 2023, the exports stood at a somewhat lower figure.

In value terms, vaccine exports skyrocketed to $X in 2023. In general, exports continue to indicate a tangible increase. The pace of growth was the most pronounced in 2020 with an increase of X%. As a result, the exports attained the peak of $X. From 2021 to 2023, the growth of the exports remained at a lower figure.

Exports by Country

In 2023, the United Arab Emirates (X tons) was the major exporter of vaccines for human medicine, committing X% of total exports. It was distantly followed by Saudi Arabia (X tons) and Bahrain (X tons), together mixing up a X% share of total exports. Kuwait (X kg) followed a long way behind the leaders.

From 2012 to 2023, the biggest increases were recorded for Kuwait (with a CAGR of X%), while shipments for the other leaders experienced mixed trends in the exports figures.

In value terms, the United Arab Emirates ($X) remains the largest vaccine supplier in GCC, comprising X% of total exports. The second position in the ranking was taken by Saudi Arabia ($X), with an X% share of total exports. It was followed by Bahrain, with a X% share.

From 2012 to 2023, the average annual growth rate of value in the United Arab Emirates amounted to X%. In the other countries, the average annual rates were as follows: Saudi Arabia (X% per year) and Bahrain (X% per year).

Export Prices by Country

In 2023, the export price in GCC amounted to $X per ton, with an increase of X% against the previous year. In general, the export price recorded significant growth. The most prominent rate of growth was recorded in 2013 when the export price increased by X%. Over the period under review, the export prices attained the maximum at $X per ton in 2020; however, from 2021 to 2023, the export prices failed to regain momentum.

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

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

Vaccine Imports

Imports in GCC

In 2023, the amount of vaccines for human medicine imported in GCC skyrocketed to X tons, picking up by X% on 2022. Over the period under review, imports enjoyed a strong expansion. The most prominent rate of growth was recorded in 2021 when imports increased by X% against the previous year. As a result, imports attained the peak of X tons. From 2022 to 2023, the growth of imports remained at a lower figure.

In value terms, vaccine imports skyrocketed to $X in 2023. Overall, imports recorded a resilient increase. The most prominent rate of growth was recorded in 2021 with an increase of X%. As a result, imports reached the peak of $X. From 2022 to 2023, the growth of imports failed to regain momentum.

Imports by Country

The United Arab Emirates (X tons) and Saudi Arabia (X tons) prevails in imports structure, together committing X% of total imports. Qatar (X tons) held an X% share (based on physical terms) of total imports, which put it in second place, followed by Oman (X%). Bahrain (X tons) and Kuwait (X tons) followed a long way behind the leaders.

From 2012 to 2023, the biggest increases were recorded for the United Arab Emirates (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest vaccine importing markets in GCC were Saudi Arabia ($X), the United Arab Emirates ($X) and Qatar ($X), with a combined X% share of total imports.

The United Arab Emirates, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, in terms of 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 2023, the import price in GCC amounted to $X per ton, surging by X% against the previous year. Over the period under review, the import price recorded a buoyant expansion. The growth pace was the most rapid in 2021 when the import price increased by X% against the previous year. Over the period under review, import prices reached the maximum in 2023 and is likely to continue growth in the near future.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Saudi Arabia ($X,540 per ton), while Oman ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform