Vaccines - Belarus

Belarus

in Belarus, a country with a rich history and vibrant culture, is poised to make a mark in the Vaccines market.
By 2024, the projected revenue in this market is estimated to reach a substantial US$20.40m.
Looking ahead, experts anticipate an annual growth rate (CAGR 2024-2029) of 2.26%, which will propel the market volume to an impressive US$22.81m by 2029.
When compared globally, it is worth noting that United States is expected to generate the highest revenue in the Vaccines market, with an astounding US$29,120.00m in 2024.
This highlights the significant potential and competition in the industry, as well as the importance of market dynamics and strategies for success.
in Belarus, with its unique position in the market, will play a crucial role in shaping its future trajectory and contributing to the overall growth of this sector.
Belarus has made significant strides in its vaccine market, with a focus on developing advanced immunization technologies.

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

Market

Region

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Currency

Analyst Opinion

The demand for vaccines in Belarus has been on the rise in recent years.

Customer preferences: Belarus has a well-established vaccination program that covers a wide range of diseases. However, in recent years, there has been an increase in demand for vaccines that are not included in the national program. This trend is driven by a growing awareness of the importance of preventive healthcare among the population.

Trends in the market: The market for vaccines in Belarus is primarily driven by the demand for childhood vaccines. However, there has been a growing demand for adult vaccines as well, particularly for vaccines that protect against infectious diseases such as flu and hepatitis. In addition, there has been an increase in demand for travel vaccines as more Belarusians travel abroad.

Local special circumstances: Belarus has a well-developed healthcare system that provides free healthcare to all citizens. The government is the primary purchaser of vaccines in the country and is responsible for the distribution of vaccines to healthcare facilities. Private healthcare providers also play a role in the market, particularly in the provision of travel vaccines.

Underlying macroeconomic factors: The Belarusian economy has been growing steadily in recent years, which has led to an increase in disposable income among the population. This has contributed to the increase in demand for vaccines that are not covered by the national vaccination program. In addition, the government has been investing in the healthcare sector, which has led to an improvement in the quality of healthcare services in the country. This has also contributed to the growing demand for vaccines in the country.

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.