Market Insights Health Pharmaceuticals Vaccines

COVID-19 Vaccines - Algeria

Algeria

Algeria is anticipated to witness a substantial growth in revenue within the COVID-19 Vaccines market.
By 2024, the projected revenue is expected to reach US$14.26m.
This represents a promising opportunity for the country.
Furthermore, the market is predicted to exhibit an impressive annual growth rate (CAGR 2024-2029) of -18.68%.
As a result, the market volume is estimated to reach US$5.07m by 2029.
When compared globally, it is noteworthy that United States is projected to generate the highest revenue in the COVID-19 Vaccines market.
In 2024 alone, United States is expected to generate a staggering revenue of US$4,389,000.00k.
This indicates the significant market dominance of the United States in this market.
Algeria is experiencing a surge in demand for COVID-19 vaccines as the government intensifies its efforts to vaccinate the population.

Key regions: United Kingdom, Germany, France, South Korea, Italy

Market

Region

Region comparison

Currency

Analyst Opinion

Algeria, a North African country, has a population of over 44 million people. The COVID-19 pandemic has affected the country's economy and healthcare system. The COVID-19 vaccines market in Algeria has been developing in a certain way due to various factors.

Customer preferences: The Algerian government has been providing free COVID-19 vaccines to its citizens. The majority of the population has been receiving the Sinovac vaccine, which has been approved by the World Health Organization (WHO). However, there has been some hesitancy towards the vaccines due to misinformation and lack of trust in the government. Some citizens have preferred to wait for other vaccines, such as Pfizer or Moderna, to become available.

Trends in the market: The COVID-19 vaccines market in Algeria has been developing slowly due to the limited availability of vaccines. The country has been relying on donations from other countries and organizations. The government has been working on increasing vaccine production and distribution to speed up the vaccination process. The demand for vaccines has been increasing as more citizens become aware of the importance of vaccination.

Local special circumstances: Algeria has been facing challenges in its healthcare system due to the pandemic. The country has been experiencing shortages of medical supplies and equipment, including oxygen and hospital beds. The government has been working on improving the healthcare system and increasing its capacity to handle COVID-19 cases. The country has also been facing political instability and economic challenges, which have affected the vaccine distribution process.

Underlying macroeconomic factors: Algeria's economy has been heavily reliant on oil and gas exports, which have been affected by the pandemic. The country has been facing a recession, high unemployment rates, and inflation. The government has been implementing economic reforms to address these issues. The pandemic has also highlighted the need for investment in the healthcare system and diversification of the economy.In conclusion, the COVID-19 vaccines market in Algeria has been developing slowly due to the limited availability of vaccines and challenges in the healthcare system. The Algerian government has been working on increasing vaccine production and distribution to speed up the vaccination process. The country's economy and healthcare system have been affected by the pandemic, highlighting the need for investment and reforms.

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.