Key Market Indicators
In 2023, China's vaccination coverage for children aged one year old remained at a full 100 percent, consistent with the previous year. This stability has been observed since 2005, with an incremental annual increase of 0.2 percentage points. China's vaccine import market is projected to reach approximately $1.2 billion by 2028, up from around $970 million in 2023. This reflects an average annual growth rate of 3.3 percent. The country's demand for vaccines has seen consistent growth at the same annual rate since 1997. On the export front, China's vaccine exports are anticipated to rise to roughly $167 million by 2028, from about $135 million in 2023, marking an average annual growth rate of 3.3 percent. Since 1997, the supply of vaccines for export has increased by an average of 3.1 percent per year. In 2023, China ranked 16th in vaccine exports, trailing behind Singapore at the same value of $135 million. Belgium, the United Kingdom, and France occupied the second, third, and fourth positions, respectively. Looking back to 2019, vaccination coverage for Chinese children aged one year old was at 99 percent, unchanged from 2018. This rate has remained stable since 1987, indicating a consistent public health effort to maintain high vaccination levels among young children.
