Forecast: Export of Vaccines for Human Use from Singapore

The export of vaccines for human use from Singapore demonstrated significant fluctuation between 2013 and 2023, with the highest variation seen in 2014 (up 245.56%). The latest data for 2023 show a value of $168.08 million, indicating a slight year-on-year growth of 4.75% from 2022. Over the last five years, the industry experienced an average annual growth (CAGR) of 3.82%. Notable years include 2018 with the highest year-on-year growth of 45.65% and 2022 with a slight decline of 4.46%.

Looking forward, the projected forecast from 2024 to 2028 suggests steady growth with a five-year CAGR of 2.98%, resulting in an overall increase of 15.84% by 2028. Future trends to watch for include advancements in vaccine technology, global health initiatives, and potential impacts of geopolitical and economic factors on the pharmaceutical supply chain. Elevated scrutiny on pandemic preparedness and response mechanisms could also drive further demand and exports for human vaccines.