Market Insights Health Pharmaceuticals Vaccines

COVID-19 Vaccines - Croatia

Croatia

The COVID-19 Vaccines market in Croatia is projected to reach US$45.86m by 2024.
It is expected to show an annual growth rate (CAGR 2024-2029) of -18.20%, resulting in a market volume of US$16.80m by 2029.
In global comparison, United States will generate the most revenue, with US$4,389,000.00k in 2024.
Croatia is witnessing a surge in demand for COVID-19 vaccines, with increasing vaccination rates and a growing emphasis on reaching remote areas.

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

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Analyst Opinion

The COVID-19 pandemic has created a global demand for vaccines, and Croatia is no exception. The COVID-19 Vaccines market in Croatia has been experiencing steady growth in recent months.

Customer preferences: Customers in Croatia are showing a strong preference for vaccines that have been authorized by the European Medicines Agency (EMA). This is due to the fact that the EMA has a rigorous approval process that ensures the safety and efficacy of vaccines. Customers are also looking for vaccines that are easily accessible and affordable.

Trends in the market: One of the main trends in the COVID-19 Vaccines market in Croatia is the increasing availability of vaccines. As more vaccines become available, the government is able to expand its vaccination program and reach more people. Another trend is the growing number of vaccination centers across the country, which makes it easier for people to get vaccinated.

Local special circumstances: Croatia is a small country with a population of just over 4 million people. This means that the government has been able to quickly roll out its vaccination program and reach a large percentage of the population. Additionally, Croatia is a popular tourist destination, and the government is keen to vaccinate as many people as possible in order to make the country a safe destination for tourists.

Underlying macroeconomic factors: The COVID-19 pandemic has had a significant impact on the Croatian economy, and the government is keen to get the country back on track. The vaccination program is seen as a key part of this effort, as it will allow businesses to reopen and people to return to work. Additionally, the government has been providing financial incentives to encourage people to get vaccinated, which has helped to drive demand for vaccines.

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.