COVID-19 Vaccines - Benelux

Benelux

Highlights

In the Benelux region, the revenue in the COVID-19 Vaccines market is estimated to achieve a significant milestone, reaching a projected value of US$352.30m in the year 2024.
The market is anticipated to display a promising growth trajectory, with an annual growth rate (CAGR 2024-2029) of -18.04%.
This growth will ultimately lead to a substantial market volume of US$130.30m by the year 2029.
However, when considering the global landscape, it is noteworthy that United States is expected to generate the highest revenue in this market.
In 2024 alone, United States is projected to generate a staggering amount of US$4.39bn in revenue.
In the Benelux region, the COVID-19 vaccine distribution is being efficiently coordinated among the member countries, ensuring a smooth and timely rollout for the population.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The COVID-19 pandemic has caused a significant impact on the global healthcare industry, and the Benelux region is no exception. The COVID-19 Vaccines market has been experiencing several trends and developments in the region.

Customer preferences: Customers in the Benelux region are increasingly interested in COVID-19 vaccines due to the pandemic's impact. The demand for vaccines has been high, and customers are willing to pay a premium for early access to vaccines. Additionally, there is a preference for vaccines that have been approved by regulatory bodies and have undergone rigorous testing.

Trends in the market: The COVID-19 Vaccines market in the Benelux region has been experiencing several trends. Firstly, there has been a significant increase in the number of vaccines available in the market. This increase has been due to the rapid development of vaccines by pharmaceutical companies. Secondly, there has been a trend towards the use of mRNA vaccines, which have shown high efficacy rates in clinical trials. Finally, there has been a trend towards the use of booster shots to increase the effectiveness of vaccines and provide long-term protection against the virus.

Local special circumstances: The Benelux region is a small but densely populated area, which has made it challenging to control the spread of the virus. The region's healthcare infrastructure has been under pressure due to the high number of COVID-19 cases, leading to a significant demand for vaccines. Additionally, there have been challenges in the distribution of vaccines due to the region's complex regulatory environment.

Underlying macroeconomic factors: The COVID-19 pandemic has had a significant impact on the global economy, and the Benelux region is no exception. The region's economy has been affected by the lockdowns and restrictions imposed to control the spread of the virus. Additionally, the pandemic has led to a significant increase in healthcare spending, which has put pressure on the region's healthcare system. However, the development of vaccines has provided hope for the region's economic recovery, as it is expected to lead to a return to normalcy and the reopening of the economy.

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.