Vaccines - Bangladesh | Statista Market Forecast

The Vaccines market in Bangladesh is expected to witness a significant growth in revenue, projecting to reach a staggering amount of US$1.42bn by 2024.
Furthermore, the market is expected to demonstrate a promising annual growth rate (CAGR 2024-2029) of -14.87%, which will ultimately lead to a substantial market volume of US$632.40m by 2029.
In terms of global comparison, it is worth noting that United States will dominate the Vaccines market, generating the highest revenue of US$29.12bn in 2024.
Bangladesh is experiencing a surge in demand for vaccines due to its growing population and increased focus on public health.

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

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

Sera and gammaglobulins
Antivirals
Antibiotics

The demand for vaccines in Bangladesh has been on the rise in recent years due to various factors.

Customer preferences: Bangladesh has a large population of over 160 million people, and as such, there is a significant need for vaccines to prevent various diseases. Customers in Bangladesh are increasingly aware of the importance of vaccines in preventing illnesses and are more willing to get vaccinated. Additionally, the government has been running various vaccination campaigns, targeting both children and adults, which has helped to increase awareness and demand for vaccines.

Trends in the market: The vaccines market in Bangladesh has witnessed significant growth in recent years, with an increasing number of pharmaceutical companies investing in the country. This growth can be attributed to the increasing demand for vaccines, as well as the government's efforts to improve healthcare infrastructure. The market is dominated by a few global players, but local companies are also making headway, especially in the production of generic vaccines.

Local special circumstances: Bangladesh is a developing country, and as such, there are various challenges that the country faces in terms of healthcare. One of the major challenges is the lack of access to healthcare facilities, especially in rural areas. The government has been working to address this issue by building more healthcare facilities and training healthcare workers. Another challenge is the lack of awareness among the population about the importance of vaccines, which the government has been addressing through vaccination campaigns.

Underlying macroeconomic factors: Bangladesh has been experiencing steady economic growth in recent years, which has led to an increase in disposable income among the population. This increase in disposable income has led to an increase in demand for healthcare services, including vaccines. Additionally, the government has been investing in healthcare infrastructure, which has helped to improve access to healthcare services. The country's strategic location has also made it an attractive destination for pharmaceutical companies looking to expand their operations in 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.

This report presents a comprehensive analysis and additional information on the Health market, in a PDF format.

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.