Key regions: United Kingdom, Germany, France, South Korea, Italy
Despite the economic sanctions imposed on Cuba, the country has developed a robust healthcare system that has been able to produce its own vaccines. The COVID-19 Vaccines market in Cuba has been developing at a steady pace, with the government investing in the development and production of its own vaccines.
Customer preferences: The COVID-19 Vaccines market in Cuba is dominated by the government, which has been developing and producing its own vaccines. The government has been prioritizing the vaccination of its citizens, with healthcare workers and vulnerable populations being the first to receive the vaccine. There is a high level of trust in the government's ability to provide vaccines, and the population is generally willing to receive them.
Trends in the market: The main trend in the COVID-19 Vaccines market in Cuba is the development and production of its own vaccines. The country has been able to produce two vaccines, Soberana 02 and Abdala, which have shown promising results in clinical trials. The government has been investing heavily in the production of these vaccines, with the aim of vaccinating the entire population by the end of the year.
Local special circumstances: Cuba's healthcare system is highly centralized, with the government playing a dominant role in the provision of healthcare services. This has allowed the government to prioritize the development and production of its own vaccines, without having to rely on external suppliers. Additionally, the country has a strong tradition of medical research, which has enabled it to develop its own vaccines.
Underlying macroeconomic factors: The COVID-19 Vaccines market in Cuba is heavily influenced by the country's economic situation. The economic sanctions imposed by the United States have limited the country's ability to import medical supplies and equipment, which has made it difficult to respond to the pandemic. However, the government has been able to leverage its healthcare system and research capabilities to develop its own vaccines. Additionally, the government's focus on healthcare has helped to mitigate the impact of the pandemic on the population.
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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