Key regions: Australia, Italy, France, South Korea, Brazil
The demand for vaccines in ASEAN countries has been increasing in recent years due to several factors.
Customer preferences: Customers in ASEAN countries are becoming more health-conscious and are willing to invest in preventive measures such as vaccines. The rise in infectious diseases and the increasing awareness of the importance of vaccination have also contributed to the growth of the vaccines market in the region.
Trends in the market: Each country in ASEAN has its own unique trends in the vaccines market. For example, in Indonesia, the government has been increasing its efforts to promote vaccination, resulting in a significant increase in the number of people receiving vaccines. In Thailand, the private sector has been driving the growth of the vaccines market, with more private hospitals offering vaccination services. Singapore has been focusing on developing innovative vaccines and has become a hub for vaccine research and development in the region.
Local special circumstances: There are also local special circumstances that affect the vaccines market in each ASEAN country. For example, in Vietnam, the government provides free vaccinations to children under the age of five, which has helped to increase the vaccination rate in the country. In the Philippines, the government has been implementing a universal health care program that includes free vaccinations for all Filipinos.
Underlying macroeconomic factors: The vaccines market in ASEAN is also influenced by underlying macroeconomic factors. The growing middle class in the region has led to an increase in demand for healthcare services, including vaccinations. The increasing investment in healthcare infrastructure and the rise of medical tourism in the region have also contributed to the growth of the vaccines market.In conclusion, the vaccines market in ASEAN is developing due to the increasing health consciousness of customers, rising infectious diseases, and government efforts to promote vaccination. Each country in the region has its own unique trends and local special circumstances that affect the vaccines market. The underlying macroeconomic factors, such as the growing middle class and investment in healthcare infrastructure, also play a significant role in the growth of the vaccines market in ASEAN.
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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