Key regions: United Kingdom, Germany, France, South Korea, Italy
The COVID-19 Vaccines market in Americas has been rapidly evolving since the first vaccine was authorized for emergency use in December 2020. As of now, multiple vaccines have been authorized for use in the region, and the market is witnessing a surge in demand due to the increasing number of COVID-19 cases.
Customer preferences: Customers in the Americas region are showing a high level of interest in getting vaccinated against COVID-19. This is mainly due to the severity of the pandemic in the region, which has resulted in a high number of infections and deaths. Customers are also looking for vaccines that have been authorized by regulatory authorities and have proven to be effective in clinical trials.
Trends in the market: The COVID-19 Vaccines market in the Americas is witnessing a surge in demand due to the increasing number of COVID-19 cases. The market is also witnessing a shift in demand towards vaccines that have been authorized by regulatory authorities and have proven to be effective in clinical trials. The market is also witnessing a trend towards the use of mRNA vaccines, which have shown high efficacy rates in clinical trials.
Local special circumstances: The Americas region has been severely affected by the COVID-19 pandemic, with the United States being the worst affected country in the world. The region has been witnessing a surge in demand for COVID-19 vaccines due to the increasing number of infections and deaths. The region is also witnessing a shortage of vaccines, which is leading to a delay in the vaccination process.
Underlying macroeconomic factors: The COVID-19 pandemic has had a significant impact on the global economy, and the Americas region has not been immune to this impact. The pandemic has resulted in a slowdown in economic activity, leading to job losses and reduced consumer spending. The pandemic has also resulted in disruptions in global supply chains, leading to shortages of raw materials and finished products. These factors have had an impact on the COVID-19 Vaccines market in the Americas, leading to a shortage of vaccines and delays in the vaccination process.
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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