Vaccines - Asia

Asia

In Asia, the Vaccines market is anticipated to witness a significant growth in revenue, with projections indicating that it will reach US$19.69bn by the year 2024.
Moreover, the market is expected to exhibit a Compound Annual Growth Rate (CAGR) of 1.64% for the period between 2024 and 2029, resulting in a market volume of US$21.36bn by 2029.
When compared globally, it is noteworthy that United States will generate the highest revenue, amounting to US$29,120.00m in 2024.
In Asia, Japan has emerged as a leader in the vaccines market, with a strong focus on research and development.

Key regions: Australia, Italy, France, South Korea, Brazil

Market

Region

Region comparison

Currency

Analyst Opinion

The demand for vaccines in Asia has been on the rise in recent years due to various factors such as population growth, increasing awareness about the importance of vaccination, and the emergence of new diseases.

Customer preferences: Customers in Asia are increasingly prioritizing preventive healthcare measures, including vaccination, to maintain their health and wellbeing. This trend is particularly evident in countries with high population densities, where the risk of disease transmission is higher. Additionally, the growing middle class in Asia is willing to pay more for higher quality healthcare services, including vaccines.

Trends in the market: In China, the vaccines market has been growing rapidly due to the government's efforts to improve the country's healthcare system. The government has made significant investments in healthcare infrastructure, including building more hospitals and clinics, which has led to an increase in demand for vaccines. In India, the vaccines market is also growing, driven by the country's large population and high disease burden. The government has launched several vaccination programs to combat diseases such as polio and measles.In Southeast Asia, there is a growing trend towards the adoption of new vaccines, such as the HPV vaccine, which protects against cervical cancer. This trend is driven by increasing awareness about the benefits of vaccination and the availability of new vaccines in the market. Additionally, there is a growing demand for vaccines that are effective against emerging infectious diseases, such as the Zika virus and Ebola.

Local special circumstances: One of the challenges facing the vaccines market in Asia is the lack of access to vaccines in some regions. In rural areas, for example, there may be limited healthcare infrastructure and a lack of trained medical professionals, which can make it difficult to distribute vaccines effectively. Additionally, there may be cultural or religious barriers to vaccination in some communities, which can make it challenging to achieve high vaccination rates.

Underlying macroeconomic factors: The vaccines market in Asia is also influenced by broader macroeconomic trends, such as population growth, urbanization, and rising income levels. As populations grow and become more urbanized, the risk of disease transmission increases, which drives demand for vaccines. Additionally, rising income levels in Asia mean that more people can afford to pay for healthcare services, including vaccines. Finally, government policies and regulations also play a significant role in shaping the vaccines market in Asia, as governments invest in healthcare infrastructure and launch vaccination programs to protect public health.

Methodology

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.