Market Insights Health Pharmaceuticals Vaccines

COVID-19 Vaccines - Belarus

Belarus

The COVID-19 Vaccines market in Belarus is projected to witness a significant growth in revenue, with an estimated value of US$8.09m in the year 2024.
This growth is expected to continue at a steady pace, with an annual growth rate (CAGR 2024-2029) of -18.38%.
As a result, the market volume is projected to reach US$2.93m by the year 2029.
When compared globally, it is worth noting that United States is expected to generate the highest revenue in this market, with an estimated value of US$4,389,000.00k in the year 2024.
Despite facing political challenges, Belarus has successfully implemented a nationwide COVID-19 vaccination campaign, ensuring access to vaccines for its citizens.

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

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Analyst Opinion

Belarus has been actively vaccinating its population against COVID-19 since the beginning of 2021. The country has approved the use of several vaccines, including Sputnik V, Sinopharm, and AstraZeneca.

Customer preferences: Belarusian citizens have shown a willingness to get vaccinated against COVID-19, with a significant portion of the population already receiving at least one dose of the vaccine. The government has been actively promoting vaccination campaigns to encourage more people to get vaccinated.

Trends in the market: The COVID-19 Vaccines market in Belarus has been growing steadily due to the high demand for vaccines. The government has been procuring vaccines from various sources, including Russia, China, and the COVAX facility. The country has also been producing its own vaccine, the Belmedpreparaty vaccine, which has been approved for emergency use.

Local special circumstances: Belarus has a centralized healthcare system, with the government playing a significant role in the procurement and distribution of vaccines. The country has also been conducting clinical trials for its own vaccine, which has helped boost the local pharmaceutical industry.

Underlying macroeconomic factors: The COVID-19 pandemic has had a significant impact on the Belarusian economy, with the country experiencing a recession in 2020. The government has been implementing various measures to support the economy, including providing financial assistance to businesses and households. The vaccination campaign is seen as a crucial step towards economic recovery, as it will help reduce the spread of the virus and allow for the resumption of economic activity.

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.