Market Insights Health Pharmaceuticals Vaccines

COVID-19 Vaccines - Angola

Angola

The COVID-19 Vaccines market in Angola is projected to reach a revenue of US$66.53m in 2024.
It is expected to demonstrate an annual growth rate (CAGR 2024-2029) of -17.87%, leading to a market volume of US$24.86m by 2029.
In comparison to other countries, United States is forecasted to generate the highest revenue of US$4,389,000.00k in 2024.
Angola's COVID-19 vaccine market is witnessing a surge in demand due to the government's rigorous vaccination drive and public awareness campaigns.

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

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Analyst Opinion

Amidst the global pandemic, the COVID-19 vaccines market in Angola has been witnessing significant developments.

Customer preferences: Angola is one of the countries in Africa that has been hit hard by the COVID-19 pandemic. The country has a population of over 32 million people, and the government has been working hard to vaccinate the population. However, the uptake of vaccines has been slow due to vaccine hesitancy and misinformation. Many Angolans are still skeptical about the safety and effectiveness of the vaccines.

Trends in the market: Despite the slow uptake of vaccines, there has been a significant increase in demand for COVID-19 vaccines in Angola. This is due to the recent surge in cases and deaths in the country. The government has been ramping up its vaccination campaign, and there has been an increase in the number of vaccination centers across the country. The demand for vaccines is expected to continue to rise as the government intensifies its efforts to vaccinate the population.

Local special circumstances: Angola is a lower-middle-income country with a significant portion of its population living in poverty. This has made it difficult for the government to afford the vaccines, and it has had to rely on donations from other countries and organizations. The government has also been working to develop its own vaccine, which it hopes will help to reduce its reliance on donations.

Underlying macroeconomic factors: The COVID-19 pandemic has had a significant impact on the Angolan economy, which was already struggling before the pandemic. The country's economy is heavily dependent on oil exports, and the drop in oil prices has had a severe impact on the economy. The pandemic has also led to a decline in economic activity, which has further worsened the country's economic situation. The government has been working to mitigate the impact of the pandemic on the economy, but it has been a challenging task. In conclusion, the COVID-19 vaccines market in Angola is developing slowly due to vaccine hesitancy and misinformation. However, there has been an increase in demand for vaccines due to the recent surge in cases and deaths in the country. The government has been ramping up its vaccination campaign, and there has been an increase in the number of vaccination centers across the country. The country's lower-middle-income status and struggling economy have made it difficult for the government to afford the vaccines, and it has had to rely on donations from other countries and organizations.

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.