Human vaccines market in Spain

Earlier Report Observations

From 2018 to 2020, the human vaccines market in Spain showed strong growth, with its total value increasing from 520 million USD to 765 million USD. Domestic production also rose consistently from 308 million USD to 381 million USD over these three years.

The year 2021 was marked by an extraordinary spike in international vaccine trade, with imports reaching 7 274 million USD and exports hitting 6 064 million USD. This surge was directly linked to the global scramble for COVID-19 vaccines, where worldwide demand and scaled-up production efforts created significant import and export flows for Spain.

In 2022, the market size was reported at 453 million USD, equaling the domestic production value for that year as recorded imports and exports ceased. During this period, the market was influenced by the expansion of local manufacturing capacity and the adoption of new vaccine technologies, including mRNA platforms, which supported continued growth in production.

Production human vaccines in Spain

In value, 2017-2020, M $ US

Human vaccine production in Spain has increased for the third consecutive year. In 2020, output was valued at 381.2 million US dollars, marking a 12.4% year-over-year rise. From 2017 to 2020, production grew by 47.7%, with a compound annual growth rate of 13.9%.

Annual dynamics of production in Spain in value, 2017-2020, M $ US

Exports human vaccines from Spain

Exports in kind, t

The market exhibited volatility during the observed period. Exports reached their lowest point in 2017 and peaked in 2018, with a 2.1-fold difference between these years. In 2020, exported human vaccine volumes from Spain totaled 624 tonnes, reflecting a slight decrease of 1.0% from the previous year. The maximum volume was recorded in 2018 at 761 tonnes. The largest decline occurred in 2019, with a drop of 17.1%, while the largest increase was in 2018, with a surge of 114.1%.

Annual dynamics of product's exports from Spain in kind, 2017-2020, t

From 2017 to 2020, three main markets—Germany, Portugal, and the United Kingdom—collectively absorbed 73.1% of Spain's total human vaccine exports in kind.

Structure of product's exports in kind by countries, 2017-2020

World map of product's exports from Spain in kind, 2017-2020

Exports in value, M $ US

Human vaccine deliveries from Spain have increased for the third consecutive year. In 2020, export volume totaled 315.3 million US dollars, representing a strong rise of 15.0% compared to 2019. Between 2017 and 2020, exports grew by 107.1%, equating to an annualized rate of 27.5%.

Annual dynamics of product's exports from Spain in value, 2017-2020, M $ US

Throughout 2017 to 2020, Germany (37.3% of exports in value terms), Portugal (12.1% of exports in value terms), and the United Kingdom (9.7% of exports in value terms) were the main markets for Spain's human vaccine exports in value terms, jointly accounting for 59.1% of total flows.

Structure of product's exports in value by countries, 2017-2020

World map of product's exports from Spain in value, 2017-2020

Imports human vaccines to Spain

Imports in kind, t

Human vaccine volumes imported by Spain have increased for the third consecutive year. In 2020, imports amounted to 7 308 tonnes, up by 18.1% compared to 2019. Between 2017 and 2020, imports surged by 1 090.6%, equating to an annualized rate of 128.3%.

Annual dynamics of product's imports to Spain in kind, 2017-2020, t

From 2017 to 2020, the Netherlands (63.8% of imports in kind), Italy (16.0% of imports in kind), and the United States (6.5% of imports in kind) together accounted for 86.3% of Spain's total human vaccine imports in kind, serving as the primary sources.

Structure of product's imports in kind by countries, 2017-2020

World map of product's imports to Spain in kind, 2017-2020

Imports in value, M $ US

Spain's volume of human vaccine imports has increased for the third consecutive year. In 2020, Spain imported 698.9 million US dollars worth of human vaccines, which is 36.1% more than the prior year. Over the period 2017 to 2020, imports increased by 61.7%, with a compound annual growth rate of 17.4%.

Annual dynamics of product's imports to Spain in value, 2017-2020, M $ US

From 2017 to 2020, the Netherlands (32.1% of imports in value terms), Belgium (22.8% of imports in value terms), and Italy (15.5% of imports in value terms) were the principal suppliers of human vaccines to Spain, jointly accounting for 70.4% of total imports in value terms.

Structure of product's imports in value by countries, 2017-2020

World map of product's imports to Spain in value, 2017-2020