Vaccines - Central Asia

Central Asia

In Central Asia, the revenue generated in the Vaccines market is estimated to reach US$380.40m by 2024.
This market is expected to exhibit a steady annual growth rate (CAGR 2024-2029) of -8.98%, leading to a market volume of US$237.70m by 2029.
When compared globally, United States is projected to generate the highest revenue of US$29,120.00m in 2024.
In Central Asia, there is a growing demand for vaccines as the government prioritizes public health and aims to increase immunization rates.

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

Market

Region

Region comparison

Currency

Analyst Opinion

The demand for vaccines in Central Asia has been on the rise in recent years, driven by a growing awareness of the importance of immunization and the increasing prevalence of infectious diseases in the region.

Customer preferences: Customers in Central Asia are increasingly prioritizing the health and well-being of themselves and their families, leading to a greater demand for vaccines. Additionally, the growing middle class in the region has more disposable income to spend on healthcare, including preventative measures like vaccinations.

Trends in the market: Kazakhstan is the largest market for vaccines in Central Asia, due to its relatively large population and high vaccination rates. However, other countries in the region, such as Uzbekistan and Turkmenistan, are also seeing growth in their vaccine markets. This growth is largely driven by government initiatives to increase vaccination rates and prevent the spread of infectious diseases.

Local special circumstances: One unique challenge in the Central Asian vaccine market is the large rural population in many of the countries. This can make it difficult to distribute vaccines and ensure that they are being administered properly. Additionally, there is a lack of awareness and education about vaccines in some areas, which can lead to lower vaccination rates.

Underlying macroeconomic factors: The Central Asian vaccine market is influenced by a variety of macroeconomic factors, including government investment in healthcare infrastructure, population growth, and the prevalence of infectious diseases in the region. Additionally, the region's proximity to other countries with high rates of infectious diseases, such as China and Russia, can also impact the demand for vaccines.

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.