Key regions: United Kingdom, Germany, France, South Korea, Italy
The COVID-19 pandemic has affected the entire world, and Bulgaria is no exception. The Bulgarian government has been working hard to secure COVID-19 vaccines for its citizens, and the market for these vaccines has been developing rapidly.
Customer preferences: Bulgarian citizens have shown a high level of interest in receiving the COVID-19 vaccine. Many people have been eager to get vaccinated in order to protect themselves and their loved ones from the virus. However, there has also been some hesitancy among certain segments of the population, particularly younger people. This is a trend that is not unique to Bulgaria, but is being seen in many other countries as well.
Trends in the market: The COVID-19 vaccine market in Bulgaria has been developing rapidly over the past few months. The government has secured contracts with several vaccine manufacturers, including Pfizer/BioNTech, Moderna, and AstraZeneca. As a result, the number of vaccines available for distribution has been increasing steadily. The government has also been working to ensure that the vaccines are distributed fairly and efficiently, with priority given to healthcare workers and the elderly.
Local special circumstances: Bulgaria is a relatively small country with a population of just over 7 million people. The country has a well-developed healthcare system, but it has been under strain due to the pandemic. The government has been working to increase the capacity of the healthcare system in order to deal with the increased demand for services. There have also been concerns about the ability of the government to distribute the vaccines effectively, particularly in rural areas.
Underlying macroeconomic factors: The COVID-19 pandemic has had a significant impact on the Bulgarian economy, which was already struggling before the pandemic. The country has seen a decline in GDP and an increase in unemployment as a result of the pandemic. However, the government has been working to mitigate the economic impact of the pandemic through various measures, including financial support for businesses and individuals. The development of the COVID-19 vaccine market in Bulgaria is seen as a positive development for the economy, as it is expected to help bring the pandemic under control and allow for a return to normal economic activity.
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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