Key regions: United Kingdom, Germany, France, South Korea, Italy
Burkina Faso, a landlocked country in West Africa, has been affected by the COVID-19 pandemic since March 2020. The COVID-19 Vaccines market in Burkina Faso has been developing in a certain way due to various factors.
Customer preferences: As in many other African countries, the population in Burkina Faso has been skeptical about the COVID-19 vaccine due to rumors and misinformation. However, the government has been working to educate and inform the public about the safety and efficacy of the vaccine. Despite this, there is still a preference for traditional medicine and natural remedies.
Trends in the market: Burkina Faso received its first shipment of COVID-19 vaccines in March 2021, which consisted of 115,200 doses of the AstraZeneca vaccine through the COVAX initiative. The government has prioritized healthcare workers, the elderly, and people with underlying health conditions for vaccination. The vaccination campaign has been slow due to logistical challenges and vaccine hesitancy among the population.
Local special circumstances: Burkina Faso is facing several challenges in the distribution and administration of the COVID-19 vaccine. The country has a weak healthcare system, with limited resources and infrastructure. The government has been working to overcome these challenges by training healthcare workers and establishing vaccination centers across the country. However, the ongoing conflict and insecurity in some regions of the country have also hindered the vaccination campaign.
Underlying macroeconomic factors: Burkina Faso is one of the poorest countries in the world, with a low GDP and a high poverty rate. The COVID-19 pandemic has further exacerbated the economic situation in the country, with many people losing their jobs and struggling to make ends meet. The government has been relying on external funding and support to procure and distribute the COVID-19 vaccine. The slow vaccination campaign and the ongoing pandemic are likely to have long-term economic impacts on the country.
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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