Key regions: United Kingdom, Germany, France, South Korea, Italy
The demand for COVID-19 vaccines in ASEAN has been on the rise since the beginning of the pandemic.
Customer preferences: As the COVID-19 pandemic continues to spread across the world, the demand for vaccines has increased. ASEAN countries are no exception to this trend. Customers in ASEAN are looking for safe and effective vaccines that can protect them from the virus. They are also looking for vaccines that are affordable and easily accessible.
Trends in the market: The COVID-19 vaccines market in ASEAN is experiencing a surge in demand due to the ongoing pandemic. Countries in ASEAN have been actively procuring vaccines to inoculate their populations. Singapore and Brunei have already vaccinated a significant portion of their population, while other countries are still in the process of vaccinating their citizens. The demand for vaccines is expected to remain high in the coming months as countries continue to battle the pandemic.
Local special circumstances: Each country in ASEAN has its own unique circumstances that affect the demand for COVID-19 vaccines. For example, Indonesia, the largest country in ASEAN, has a high population density, which makes it more susceptible to the spread of the virus. In contrast, Brunei, one of the smallest countries in ASEAN, has a small population, which makes it easier to vaccinate its citizens. Additionally, some countries in ASEAN have experienced vaccine hesitancy due to concerns about the safety and efficacy of the vaccines.
Underlying macroeconomic factors: The COVID-19 vaccines market in ASEAN is also influenced by underlying macroeconomic factors. The pandemic has had a significant impact on the economies of ASEAN countries, with many experiencing a decline in GDP. This has led to a decrease in consumer spending and a shift in priorities towards essential goods such as healthcare. Governments in ASEAN have had to balance the need to procure vaccines with the need to stimulate economic growth. Additionally, the global supply chain for vaccines has been disrupted, leading to delays in vaccine delivery and distribution.
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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