Market Insights Health Pharmaceuticals Vaccines

COVID-19 Vaccines - Cambodia

Cambodia

The COVID-19 Vaccines market in Cambodia is projected to reach a revenue of US$32.60m in 2024.
It is expected to show an annual growth rate of -17.38% (CAGR 2024-2029), resulting in a market volume of US$12.55m by 2029.
In global comparison, United States is expected to generate the highest revenue, with US$4,389,000.00k in 2024.
Cambodia has made significant progress in its COVID-19 vaccination campaign, with an increasing number of citizens receiving the vaccine and a growing public confidence in its efficacy.

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

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Analyst Opinion

Amidst the global pandemic, the demand for COVID-19 vaccines has surged across the world. Cambodia, a Southeast Asian country, has also witnessed a rise in demand for vaccines.

Customer preferences: Cambodia has a population of over 16 million, and the majority of the population resides in rural areas. The country has a limited healthcare infrastructure, and the government has been working towards expanding its healthcare services. The people of Cambodia have shown a positive response towards the COVID-19 vaccines and are willing to get vaccinated. However, due to the limited healthcare infrastructure, there is a shortage of healthcare workers, which has led to a slow vaccination process.

Trends in the market: The Cambodian government has prioritized the vaccination of frontline workers and high-risk individuals. The government has also collaborated with various international organizations to procure vaccines. The country has received vaccines from China, India, and the COVAX facility. The government has also approved the emergency use of the Sinovac and AstraZeneca vaccines. However, there have been concerns about the efficacy of the Sinovac vaccine, which has led to a low demand for the vaccine. On the other hand, the AstraZeneca vaccine has gained popularity among the people, and the demand for the vaccine is high.

Local special circumstances: Cambodia is a developing country with a low-income economy. The COVID-19 pandemic has severely impacted the country's economy, and the government has been struggling to provide healthcare services to its people. The government has been working towards procuring vaccines and has provided free vaccines to its citizens. However, due to the limited healthcare infrastructure, the vaccination process has been slow. The government has also been facing challenges in reaching out to the rural areas, where the majority of the population resides.

Underlying macroeconomic factors: Cambodia's economy heavily relies on the garment industry, tourism, and agriculture. The COVID-19 pandemic has severely impacted the country's economy, with a decline in the garment industry and tourism sector. The government has been working towards reviving the economy by providing incentives to the garment industry and promoting domestic tourism. The vaccination process is crucial for the revival of the tourism sector, and the government has been prioritizing the vaccination of individuals working in the tourism sector. Additionally, the government has been working towards expanding its healthcare infrastructure to provide better healthcare services to its people. In conclusion, Cambodia has witnessed a rise in demand for COVID-19 vaccines, and the government has been working towards expanding its healthcare infrastructure and procuring vaccines. The people of Cambodia have shown a positive response towards the vaccines, and the government has been prioritizing the vaccination of frontline workers and high-risk individuals. However, due to the limited healthcare infrastructure, the vaccination process has been slow, and the government has been facing challenges in reaching out to the rural areas. The vaccination process is crucial for the revival of the tourism sector, which has been severely impacted by the pandemic.

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.