Key regions: United Kingdom, Germany, France, South Korea, Italy
The COVID-19 pandemic has drastically affected the healthcare industry across the globe. Central America, which consists of seven countries, has been no exception. The COVID-19 Vaccines market in Central America has been developing at a steady pace due to various factors.
Customer preferences: The customer preferences in Central America are similar to other regions in the world. The demand for vaccines has significantly increased due to the COVID-19 pandemic. People are more aware of the importance of vaccines and are willing to get vaccinated to protect themselves and their loved ones. However, there is still a small percentage of the population that is hesitant to get vaccinated due to various reasons such as misinformation and distrust in the healthcare system.
Trends in the market: The trends in the COVID-19 Vaccines market in Central America vary from country to country. Some countries such as Costa Rica and Panama have been successful in vaccinating a significant portion of their population. On the other hand, countries such as Honduras and El Salvador have been struggling to vaccinate their population due to various reasons such as vaccine shortage and logistical challenges.
Local special circumstances: Each country in Central America has its own set of local special circumstances that affect the COVID-19 Vaccines market. For example, in Nicaragua, the government has been accused of downplaying the severity of the pandemic, which has resulted in a lack of urgency in vaccinating the population. In Guatemala, the vaccine rollout has been affected by corruption allegations, which has led to a lack of trust in the government's ability to handle the pandemic.
Underlying macroeconomic factors: The underlying macroeconomic factors that affect the COVID-19 Vaccines market in Central America are similar to other regions in the world. The vaccine rollout has been affected by factors such as vaccine supply, logistics, and funding. Countries with a higher GDP per capita such as Costa Rica and Panama have been able to secure more vaccines and have a better healthcare infrastructure, which has resulted in a more successful vaccine rollout. On the other hand, countries with a lower GDP per capita such as Honduras and Nicaragua have been struggling to secure enough vaccines and have a weaker healthcare infrastructure, which has resulted in a slower vaccine rollout.
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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