Market Insights Health Pharmaceuticals Vaccines

COVID-19 Vaccines - Brunei Darussalam

Brunei Darussalam

In Brunei Darussalam, the COVID-19 Vaccines market is anticipated to witness significant growth, with projected revenue reaching US$1.55m in 2024.
This growth is attributed to various factors, including the increasing demand for vaccines and the government's efforts to ensure widespread vaccination coverage.
Looking ahead, the market is expected to maintain a strong growth trajectory, with an estimated annual growth rate (CAGR 2024-2029) of -18.42%.
This steady expansion will result in a substantial market volume of US$0.56m by 2029, indicating the country's commitment to combating the COVID-19 pandemic through extensive vaccination efforts.
When compared to other countries worldwide, United States is projected to generate the highest revenue in the COVID-19 Vaccines market, with an impressive figure of US$4,389,000.00k in 2024.
This highlights the country's robust healthcare infrastructure, research and development capabilities, and high vaccination rates.
The United States' significant contribution to the market underscores its leading position in the global fight against the COVID-19 pandemic.
Brunei Darussalam is prioritizing the distribution of COVID-19 vaccines to remote areas to ensure equal access for all its citizens.

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

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Analyst Opinion

Despite being one of the smallest countries in Southeast Asia, Brunei Darussalam is a wealthy nation with a high standard of living. The COVID-19 pandemic has affected the country, but the government's swift and effective response has helped to keep the number of cases low. As the world races to develop and distribute vaccines against the virus, the COVID-19 vaccines market in Brunei Darussalam is showing some interesting trends.

Customer preferences: Brunei Darussalam is a small market with a population of just over 400,000 people. The majority of the population is Muslim, and there is a strong preference for halal products. This is likely to impact the types of vaccines that are approved for use in the country. Additionally, there is a high level of trust in the government and healthcare system, which is likely to influence the uptake of vaccines.

Trends in the market: The COVID-19 vaccines market in Brunei Darussalam is still in its early stages, with vaccines only just starting to be rolled out to the general population. However, there are some notable trends emerging. One is the government's focus on securing vaccines from a variety of sources. Brunei Darussalam has secured vaccines from both China and the United Kingdom, and is in talks with other countries as well. This approach is likely to ensure that the country has access to a range of vaccines, which will be important as the situation evolves.Another trend is the government's focus on ensuring equitable access to vaccines. The government has stated that vaccines will be provided free of charge to all citizens and residents, regardless of nationality or immigration status. This is in line with the country's commitment to universal healthcare.

Local special circumstances: One unique factor that may impact the COVID-19 vaccines market in Brunei Darussalam is the country's small size. With a population of just over 400,000 people, it may be easier to distribute vaccines and ensure that everyone who needs a vaccine receives one. Additionally, the country's high level of trust in the government and healthcare system may make it easier to encourage vaccine uptake.

Underlying macroeconomic factors: Brunei Darussalam is a wealthy country with a high standard of living, thanks to its abundant oil and gas reserves. This means that the country is well-positioned to invest in vaccines and other healthcare measures to combat the pandemic. Additionally, the country's small size and strong government may make it easier to coordinate a response to the pandemic and ensure that vaccines are distributed fairly and efficiently.

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.