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Vaccines - Baltics

Baltics
  • In the Baltics, the Vaccines market is expected to witness a significant increase in revenue, with projections indicating that it will reach US$134.10m by 2024.
  • This growth is anticipated to continue at a steady pace, with an annual growth rate (CAGR 2024-2029) of -4.42%.
  • By 2029, the market volume is estimated to reach US$107.00m.
  • When looking at the global landscape, it is noteworthy that United States is projected to generate the highest revenue in the Vaccines market, with an expected value of US$29.12bn in 2024.
  • In the Baltics, there is a growing demand for vaccines to combat infectious diseases, as the region aims to strengthen its healthcare infrastructure.

Definition:
This market covers vaccines against infectious diseases. They help to prevent diseases, usually through active immunization. Vaccines against infectious diseases transmitted by viruses (e.g., hepatitis A and B or COVID-19) and bacteria (e.g., typhoid fever or meningococcus) are included.

Additional information:
Market values represent the revenues generated by manufacture prices paid to primary vendors, either directly or through distribution channels (excluding VAT). Reported market revenues include spending by consumers (B2C), companies (B2B), and governments (B2G).

Company examples: Pfizer, GlaxoSmithKline, Merck & Co, Sanofi, Moderna, AstraZeneca

In-Scope

  • Vaccines against infectious diseases
  • Prophylactic and therapeutic vaccines
  • Flu vaccines
  • COVID-19 vaccines

Out-Of-Scope

  • Sera and gammaglobulins
  • Antivirals
  • Antibiotics
Vaccines: market data & analysis - Cover

Market Insights report

Vaccines: market data & analysis

Study Details

    Revenue

    Notes: Data shown is using current exchange rates and reflects market impacts of the Russia-Ukraine war.

    Most recent update: Jun 2024

    Source: Statista Market Insights

    Notes: The chart “Comparable Estimates” shows the forecasted development of the selected market from different sources. Please see the additional information for methodology and publication date.

    Most recent update: Mar 2024

    Analyst Opinion

    The demand for vaccines in Baltics has been on a steady rise in recent years, driven by various factors including increased awareness of the importance of vaccinations, government initiatives, and rising healthcare expenditure.

    Customer preferences:
    The majority of customers in Baltics prefer vaccines that are safe, effective, and affordable. They also prefer vaccines that are easily accessible, whether through public health programs or private healthcare providers. In addition, customers in the region are increasingly interested in vaccines that offer protection against a wider range of diseases.

    Trends in the market:
    One of the major trends in the vaccines market in Baltics is the growing demand for flu vaccines. This is due to the high incidence of flu in the region, particularly during the winter months. Another trend is the increasing popularity of travel vaccines, as more people in the region are traveling to other countries for work or leisure. There is also a growing demand for vaccines that offer protection against diseases such as HPV, meningitis, and hepatitis B.

    Local special circumstances:
    One of the unique aspects of the vaccines market in Baltics is the high level of government involvement. Governments in the region are actively promoting vaccination programs, and many vaccines are provided free of charge or at a reduced cost through public health programs. In addition, there is a strong focus on preventative healthcare in the region, which has helped to increase demand for vaccines.

    Underlying macroeconomic factors:
    The vaccines market in Baltics is also influenced by broader macroeconomic factors. For example, the region has experienced steady economic growth in recent years, which has led to increased healthcare expenditure. In addition, the region has a relatively high standard of living compared to other parts of the world, which has helped to drive demand for vaccines. Finally, the region's aging population has also contributed to the growing demand for vaccines, particularly those that offer protection against diseases such as influenza and pneumonia.

    Global Comparison

    Most recent update: Jun 2024

    Source: Statista Market Insights

    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.

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    Vaccines: market data & analysis - BackgroundVaccines: market data & analysis - Cover

    Key Market Indicators

    Notes: Based on data from IMF, World Bank, UN and Eurostat

    Most recent update: Sep 2024

    Source: Statista Market Insights

    Explore more high-quality data on related topic

    Coronavirus (COVID-19): vaccines and vaccination campaign

    As of March 2023, more than 13 billion COVID-19 vaccine doses had been administered worldwide. Wide-spread vaccine availability, increasing herd immunity, and lower case numbers led to renewed hope and a feeling of normality in 2023. However, especially during the winter seasons and with the potential emergence of new variants of the virus (like Omicron in 2021-2022), tracking of coronavirus cases repeatedly becomes a focus for the public. Thus, there is a level of uncertainty about what developments the winter season 2023/2024 might bring.
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