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COVID-19 Vaccines - APAC

APAC
  • Revenue in the COVID-19 Vaccines market is projected to reach US$3.56bn in 2024.
  • Revenue is expected to show an annual growth rate (CAGR 2024-2028) of -20.32%, resulting in a market volume of US$1.44bn by 2028.
  • In global comparison, most revenue will be generated United States (US$4.39bn in 2024).

Definition:
This market covers vaccines against COVID-19. Included are different types of vaccines (mRNA-based, viral vector vaccines).

Additional information:
Market values represent the revenues generated by manufacture prices paid to primary vendors, either directly or through distribution channels (excluding VAT). Reported market revenues include spending by consumers (B2C), companies (B2B), and governments (B2G).

Company examples: Pfizer, Moderna, Biontech, Johnson & Johnson, AstraZeneca

In-Scope

  • COVID-19 vaccines
  • mRNA-based vaccines
  • Viral vector vaccines

Out-Of-Scope

  • Vaccines against other diseases
  • Antivirals
Pharmaceuticals

Pharmaceuticals

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Pharmaceuticals: market data & analysis - Cover

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Pharmaceuticals: market data & analysis

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    Revenue

    Notes: Data was converted from local currencies using average exchange rates of the respective year.

    Most recent update: Mar 2024

    Source: Statista Market Insights

    Analyst Opinion

    As vaccines are mainly used for prophylactic purposes, i.e., to prevent diseases, the Vaccines market holds a special position in the Pharmaceuticals market. This also means that they are administered to a larger share of the population, whereas the drugs covered in most of the other markets are administered if you have an existing condition, and thus only certain groups of individuals are potential patients. With only a few important players, the Vaccines market is very concentrated.

    A few new players have entered the market due to COVID-19 vaccines, and these vaccines have led to a major growth boost. They were developed under high time pressure but prove to be highly effective, and billions of doses have been produced. Demand for COVID-19 vaccines is expected to continue throughout the coming years. The mRNA-based COVID-19 vaccines are the first approved drugs of their kind, boosting this research area. There are very promising prospects regarding a large range of diseases, such as cancer, psoriasis, malaria, HIV, osteoarthritis, and Alzheimer's disease, but also when it comes to vaccines against other infectious diseases.

    The growth of revenues generated by other types of vaccines has declined since the start of the pandemic because other types of vaccinations are seen as non-emergency treatments, which is why many people suspended their refreshments. Moreover, the need for travel-related vaccinations has decreased. At the same time, the awareness of flu vaccines has grown, with increased demand from at-risk persons, such as cancer patients. In the forecast period, the revenue growth rates are expected to be back at high levels.

    Global Comparison

    Most recent update: Mar 2024

    Source: Statista Market Insights

    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.

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    Explore more high-quality data on related topic

    Coronavirus (COVID-19): vaccines and vaccination campaign

    As of March 2023, more than 13 billion COVID-19 vaccine doses had been administered worldwide. Wide-spread vaccine availability, increasing herd immunity, and lower case numbers led to renewed hope and a feeling of normality in 2023. However, especially during the winter seasons and with the potential emergence of new variants of the virus (like Omicron in 2021-2022), tracking of coronavirus cases repeatedly becomes a focus for the public. Thus, there is a level of uncertainty about what developments the winter season 2023/2024 might bring.
    More data on the topic
    Number of COVID-19 vaccine doses ordered worldwide from AstraZeneca
    3bn
    Number of vaccine doses ordered by India
    2.2bn
    Efficacy rate of Biontech/Pfizer's COVID-19 vaccine
    95%

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