Key regions: Australia, Italy, France, South Korea, Brazil
The demand for vaccines in China has been on the rise in recent years, driven by various factors including an aging population, increasing awareness of preventative healthcare, and the government's efforts to improve healthcare access and affordability.
Customer preferences: Chinese consumers are increasingly prioritizing their health and wellbeing, leading to a growing interest in preventative healthcare measures such as vaccines. Additionally, the country's aging population has also contributed to the rising demand for vaccines, as older individuals are more susceptible to certain diseases.
Trends in the market: One of the key trends in the vaccines market in China is the increasing availability and accessibility of vaccines, thanks to the government's efforts to improve healthcare infrastructure and expand healthcare coverage. This has led to a growing number of individuals receiving vaccinations, particularly in rural areas where access to healthcare was previously limited. Another trend is the rise of private healthcare providers offering vaccines, providing consumers with more options and convenience.
Local special circumstances: China has a unique healthcare system, with a mix of public and private providers. The government plays a significant role in regulating the healthcare industry, including the vaccines market. Additionally, there have been concerns about the safety and efficacy of vaccines in China, leading to greater scrutiny and regulation of vaccine manufacturers.
Underlying macroeconomic factors: China's economy has been growing rapidly in recent years, leading to an increase in disposable income and greater spending power for consumers. This has contributed to the rising demand for vaccines, as consumers are willing to pay for preventative healthcare measures. Additionally, the government's focus on improving healthcare access and affordability has also played a role in driving demand for vaccines.
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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