Market Insights Health Pharmaceuticals Vaccines

COVID-19 Vaccines - Czechia

Czechia

The COVID-19 Vaccines market in Czechia is projected to witness a significant growth in revenue, reaching US$118.00m in 2024.
This indicates a positive outlook for the market in the country.
Furthermore, it is expected that the revenue will continue to grow at an annual rate of -17.74% (CAGR 2024-2029), resulting in a market volume of US$44.45m by 2029.
This steady growth demonstrates the potential for the COVID-19 Vaccines market to flourish in Czechia.
In comparison to other countries, United States is anticipated to generate the highest revenue in the COVID-19 Vaccines market, amounting to US$4,389,000.00k in 2024.
This showcases the strong market presence and demand for COVID-19 Vaccines market United States.
Czechia's COVID-19 vaccine market is witnessing a surge in demand as the government ramps up vaccination efforts to combat the spread of the virus.

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

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Analyst Opinion

The COVID-19 pandemic has led to a surge in demand for vaccines, and Czechia is no exception. The COVID-19 Vaccines market in Czechia has seen significant growth in recent times, and this can be attributed to several factors.

Customer preferences: The customers in Czechia are highly aware of the importance of vaccination and are willing to get vaccinated as soon as possible. The government has also been proactive in promoting vaccination and has made efforts to ensure that vaccines are available to all citizens. As a result, there has been a high demand for vaccines in the country.

Trends in the market: One of the key trends in the COVID-19 Vaccines market in Czechia is the increasing availability of vaccines. Several vaccine manufacturers have received approval from the European Medicines Agency (EMA) to distribute their vaccines in the country. This has led to an increase in the supply of vaccines, which has helped to meet the growing demand.Another trend in the market is the growing popularity of mRNA vaccines. These vaccines have been shown to be highly effective in preventing COVID-19 and have been widely used in many countries. In Czechia, the Pfizer-BioNTech and Moderna vaccines have been approved for use, and there has been a high demand for these vaccines.

Local special circumstances: One of the unique factors that have contributed to the growth of the COVID-19 Vaccines market in Czechia is the country's high vaccination rate. Czechia has one of the highest vaccination rates in Europe, with over 50% of the population having received at least one dose of the vaccine. This has helped to control the spread of the virus and has led to a gradual reopening of the economy.

Underlying macroeconomic factors: The COVID-19 pandemic has had a significant impact on the global economy, and Czechia is no exception. The country's GDP contracted by 5.6% in 2020, and the government has been keen to reopen the economy as soon as possible. The vaccination drive has been a key part of this strategy, and the government has made efforts to ensure that vaccines are available to all citizens.In conclusion, the COVID-19 Vaccines market in Czechia has seen significant growth in recent times. The high demand for vaccines can be attributed to several factors, including customer preferences, increasing availability of vaccines, and the country's high vaccination rate. These trends are expected to continue in the coming months, as the government continues to promote vaccination as a key strategy to control the spread of the virus and reopen the economy.

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.