Los Angeles, CA, Nov. 01, 2021 (GLOBE NEWSWIRE) -- According to a new report published by market research firm IndexBox, in the first seven months of 2021, global vaccine exports were valued at $42.5B, a record high over the last decade. It is 40% larger than $30.5B gained in the entire 2020.
Belgium emerges as the top exporting country in value terms, overtaking the U.S., last year’s leader. From Jan-July 2021, Belgium’s vaccine exports reached almost $15.4B, which had already significantly surpassed the total from the entire previous year of $11.6B. The gains in exports were primarily possible due to an increase in Covid vaccine production at the Belgian facility of the American company, Pfizer. In 2021, the factory’s capacity expanded from 400M to 1.3B doses per year.
Germany soared into second place of the largest exporters in the world. This was made possible because IDT Biologika signed an agreement with the British-Swedish multinational AstraZeneca and American conglomerate Johnson & Johnson to expand vaccine production at its pharmaceutical factories. By the end of the year, the German biotech company BioNTech is expected to significantly increase its Marburg factory' capacity from 700M to 2.5B doses.
The most significant gains in vaccine imports in comparison with the previous year were recorded in Germany (+$3.6B), Japan (+$3.2B) and Spain (+$2.8B). For the first half of 2021, Germany, Belgium and Japan topped the list of largest vaccine importers, IndexBox estimates.
The largest pharmaceutical companies predict further growth in demand for Covid vaccines in 2022. In the first half of 2021, Pfizer earned $11B in revenues from vaccine sales and forecasts that sales for the entire year will reach $33.5B for 3B doses for the whole year. Moderna sold $5.9B worth of Covid vaccines in the first half of the year and expects yearly revenues of $20B for 1M doses. By 2022, Pfizer and Moderna plan to expand production capacity for Covid vaccines to 4B and 8B doses per year, respectively.
About IndexBox
IndexBox is a market research firm developing an AI-driven market intelligence platform that helps business analysts find actionable insights and make data-driven decisions. The platform provides data on consumption, production, trade, and prices for more than 10K+ different products across 200 countries.
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Sources
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