Key regions: United Kingdom, Germany, France, South Korea, Italy
The COVID-19 Vaccines market in EAEU has been rapidly developing since the first vaccines were approved for emergency use.
Customer preferences: Customers in EAEU are showing a high demand for COVID-19 vaccines due to the ongoing pandemic. The preference is for vaccines that have been approved by the World Health Organization or the European Medicines Agency, as they are perceived to be safer and more effective. Additionally, customers in EAEU are willing to pay a premium for vaccines that have a higher efficacy rate.
Trends in the market: The COVID-19 Vaccines market in EAEU is witnessing a trend towards the development of local vaccines. This is due to the high demand for vaccines and the need to reduce dependence on foreign suppliers. Russian vaccines, such as Sputnik V, have been approved for emergency use in several EAEU countries, and are being exported to other countries as well. Another trend is the increasing use of mRNA vaccines, such as Pfizer-BioNTech and Moderna, which have shown to be highly effective against COVID-19.
Local special circumstances: EAEU countries have varying levels of healthcare infrastructure and access to vaccines. Some countries, such as Russia and Kazakhstan, have developed their own vaccines and have started vaccination campaigns. Other countries, such as Armenia and Kyrgyzstan, are relying on vaccines from foreign suppliers. Additionally, there are logistical challenges in distributing vaccines to remote areas, which has led to delays in vaccination campaigns in some countries.
Underlying macroeconomic factors: The COVID-19 Vaccines market in EAEU is influenced by several macroeconomic factors. The ongoing pandemic has led to a slowdown in economic activity, which has affected the purchasing power of customers. Additionally, the availability of vaccines is dependent on the production capacity of vaccine manufacturers, which is limited due to the complex manufacturing process. The geopolitical situation in the region also plays a role, as some countries have closer ties with Russia and are more likely to use Russian vaccines, while others have closer ties with European countries and are more likely to use European vaccines.
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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