Market Insights Health Pharmaceuticals Vaccines

COVID-19 Vaccines - Central Africa

Central Africa

The Central Africa COVID-19 Vaccines market is anticipated to witness a substantial surge in revenue, with projections indicating a staggering amount of US$136.40m by the year 2024.
This impressive growth is expected to continue, with a projected annual growth rate (CAGR 2024-2029) of -18.00%.
As a result, the market volume is estimated to reach an impressive US$50.56m by the year 2029.
It is worth noting that in a global context, United States is expected to generate the highest revenue in the COVID-19 Vaccines market.
Projections indicate that United States will generate a substantial revenue of US$4,389,000.00k by the year 2024.
In Central Africa, the demand for COVID-19 vaccines is high, but the limited infrastructure poses challenges to distribution and reaching remote regions.

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

Market

Region

Region comparison

Currency

Analyst Opinion

The COVID-19 pandemic has had a significant impact on the healthcare industry, particularly in the development of vaccines. Central Africa, a region consisting of 11 countries, has been no exception to this trend. In this write-up, we will explore the trends and developments in the COVID-19 vaccines market in Central Africa.

Customer preferences: In Central Africa, the majority of the population resides in rural areas, which poses a significant challenge in terms of vaccine distribution. Additionally, there is a general lack of trust in vaccines, which can be attributed to the limited access to information and education. Despite this, there is a growing interest in vaccines due to the severity of the pandemic.

Trends in the market: In Central Africa, the COVID-19 vaccines market is still in its early stages. The region has been heavily reliant on the COVAX initiative, which aims to provide equitable access to COVID-19 vaccines. However, the distribution of vaccines has been slow due to supply chain issues and limited funding. As a result, there has been a growing interest in developing local vaccine production capabilities.

Local special circumstances: Central Africa is a region that has been plagued by conflict and political instability, which has had a significant impact on the healthcare system. The limited funding and resources have hindered the region's ability to respond to the pandemic effectively. Additionally, the region has a high burden of other infectious diseases such as malaria and HIV, which has further strained the healthcare system.

Underlying macroeconomic factors: Central Africa is a region that heavily relies on imports, which has been a significant challenge during the pandemic. The disruption in global supply chains has made it difficult to access essential medical supplies, including vaccines. Additionally, the economic impact of the pandemic has further strained the healthcare system, with limited funding available for vaccine distribution and administration.In conclusion, the COVID-19 vaccines market in Central Africa is still in its early stages, with limited access to vaccines due to supply chain issues and limited funding. The region's reliance on imports and the impact of the pandemic on the healthcare system have further exacerbated the situation. However, there is a growing interest in developing local vaccine production capabilities, which could have a significant impact on the region's ability to respond to the pandemic effectively.

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.