Vaccines - Bhutan

Bhutan

The Vaccines market in Bhutan is projected to reach a revenue of US$4.32m in 2024.
It is expected to show an annual growth rate (CAGR 2024-2029) of -14.53%, resulting in a market volume of US$1.97m by 2029.
In global comparison, United States will generate the highest revenue, amounting to US$29,120.00m in 2024.
Bhutan's strong commitment to healthcare and focus on preventive medicine has led to a growing demand for vaccines in the country.

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

Market

Region

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Currency

Analyst Opinion

The demand for vaccines in Bhutan has been on the rise in recent years, driven by several factors.

Customer preferences: Bhutan has a population that values good health and well-being, making vaccines a popular choice for disease prevention. Additionally, the country has a strong focus on child immunization programs, which has led to a higher uptake of vaccines among children.

Trends in the market: One of the key trends in the Bhutanese vaccines market is the increasing demand for vaccines that protect against infectious diseases such as measles, polio, and tuberculosis. The government has also been working to introduce new vaccines for diseases such as HPV and pneumonia. Another trend is the rising popularity of travel vaccines, as more Bhutanese citizens travel abroad for work or leisure.

Local special circumstances: Bhutan is a small country with a limited healthcare infrastructure, which can make it challenging to distribute and administer vaccines to all parts of the country. However, the government has been working to improve access to vaccines by expanding the reach of healthcare services and increasing awareness about the importance of immunization.

Underlying macroeconomic factors: Bhutan's economy is heavily reliant on agriculture and hydropower, which limits the country's ability to invest in healthcare infrastructure. Additionally, the country has a small population and limited resources, which can make it challenging to negotiate favorable prices for vaccines. Despite these challenges, the government has made significant progress in expanding access to vaccines and improving overall healthcare 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.