Key regions: Australia, Italy, France, South Korea, Brazil
The demand for vaccines in Africa has been on the rise in recent years due to various reasons.
Customer preferences: Customers in Africa are increasingly becoming aware of the importance of vaccination. The rise of social media and the internet has enabled people to access information about vaccines and their benefits. Additionally, governments and healthcare organizations have been actively promoting vaccination programs, leading to an increase in demand.
Trends in the market: One of the major trends in the vaccines market in Africa is the increasing demand for vaccines to prevent infectious diseases such as measles, polio, and meningitis. This is due to the high incidence of these diseases in the region. Another trend is the growing demand for vaccines to prevent non-communicable diseases such as cancer and diabetes, as the burden of these diseases is also increasing in the region.
Local special circumstances: The vaccines market in Africa is characterized by a fragmented market with a mix of global and local players. The market is highly regulated, and companies need to go through a rigorous approval process before they can launch their products in the region. Additionally, the lack of adequate infrastructure and healthcare facilities in some parts of the region poses a challenge for vaccine distribution.
Underlying macroeconomic factors: The economic growth in Africa has been steady in recent years, leading to an increase in disposable income. This has enabled people to afford vaccines and other healthcare services. Additionally, the rise of the middle class in the region has led to an increase in demand for better healthcare services, including vaccines. The increasing population in Africa is also contributing to the growth of the vaccines market as more people need to be vaccinated. Finally, the increasing focus on preventive healthcare is driving the demand for vaccines in the region.In conclusion, the vaccines market in Africa is growing due to increasing awareness about the importance of vaccination, the rise of infectious and non-communicable diseases, and the underlying macroeconomic factors. However, the market is characterized by a fragmented market, regulatory challenges, and inadequate infrastructure and healthcare facilities in some parts of the region.
Data coverage:
Data encompasses B2B, B2G, and B2C spend. Figures are based on drug revenues allocated to the country where the money is spent. Monetary values are given at manufacturer price level excluding VAT.Modeling approach / Market size:
Market sizes are determined by a top-down approach, based on a specific rationale for each market. As a basis for evaluating markets, we use financial information of the key players by market. Next, we use relevant key market indicators and data from country-specific associations, such as industry associations. This data helps us estimate the market size for each country individually.Forecasts:
In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. For example, forecasts are based on historical developments, current trends, and key market indicators, using advanced statistical methods. The main driver is healthcare expenditure. Expiring patents and new drugs in the pipeline are also considered.Additional notes:
Data is modeled in US$ using current exchange rates. The market is updated twice per year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level. This market comprises prescription drugs and all OTC drugs covered in the Statista OTC Pharmaceuticals market. However, in the OTC Pharmaceuticals market, revenues are based on end-consumer prices.
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