Market Insights Health Pharmaceuticals Vaccines

COVID-19 Vaccines - Costa Rica

Costa Rica

Costa Rica is projected to generate revenue of US$26.60m in the COVID-19 Vaccines market by 2024.
The market is expected to experience a significant annual growth rate (CAGR 2024-2029) of -17.62%, leading to a market volume of US$10.09m by 2029.
In comparison to other countries worldwide, United States is expected to generate the highest revenue of US$4,389,000.00k in 2024.
Costa Rica is actively promoting its COVID-19 vaccination campaign, ensuring widespread access to vaccines for its population.

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

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Analyst Opinion

The COVID-19 pandemic has had a profound impact on the global healthcare industry, with the development of vaccines being one of the most pressing concerns. Costa Rica is one of the many countries that has been working to provide its citizens with access to COVID-19 vaccines.

Customer preferences: The citizens of Costa Rica have shown a high level of interest in receiving the COVID-19 vaccine. The government has been working to provide vaccines to as many people as possible, with a focus on vulnerable populations such as the elderly and healthcare workers.

Trends in the market: One of the most significant trends in the COVID-19 vaccine market in Costa Rica is the government's efforts to secure vaccines from a variety of sources. Costa Rica has received vaccines from the COVAX facility, as well as from individual countries such as the United States and Israel. Additionally, the government has been working to develop its own vaccine, which could be a significant development in the global vaccine market.

Local special circumstances: Costa Rica has a strong public healthcare system, which has helped to facilitate the distribution of vaccines. Additionally, the country has a high level of trust in its government, which has helped to encourage citizens to get vaccinated.

Underlying macroeconomic factors: Costa Rica's economy has been hit hard by the COVID-19 pandemic, with tourism being one of the hardest-hit sectors. The development of vaccines and the eventual return of tourism could help to boost the country's economy. Additionally, the government's efforts to secure vaccines from a variety of sources could help to mitigate the economic impact of 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.