Market Insights Health Pharmaceuticals Vaccines

COVID-19 Vaccines - Eastern Africa

Eastern Africa

The COVID-19 Vaccines market in Eastern Africa is expected to witness a significant growth in revenue, with projections indicating that it will reach a staggering US$0.61bn by the year 2024.
Furthermore, it is anticipated that this market will experience a robust annual growth rate of -17.02% between 2024 and 2029, ultimately resulting in a market volume of US$0.24bn by 2029.
When considering the global landscape, it is worth noting that United States is poised to dominate this market, generating the highest revenue of US$4,389,000.00k in 2024.
With the current surge in COVID-19 cases, Eastern African countries are ramping up efforts to secure and distribute vaccines efficiently.

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

Market

Region

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Analyst Opinion

The COVID-19 pandemic has had a significant impact on the healthcare industry globally, and Eastern Africa is no exception. The COVID-19 Vaccines market in Eastern Africa has been developing at a steady pace due to several factors.

Customer preferences: The COVID-19 Vaccines market in Eastern Africa is driven by the need to protect individuals from the virus. Customers are looking for vaccines that have been approved by regulatory bodies and have been proven to be effective in preventing the spread of the virus. As a result, there is a high demand for vaccines that have undergone clinical trials and have been approved by the World Health Organization (WHO).

Trends in the market: Several trends have emerged in the COVID-19 Vaccines market in Eastern Africa. Countries in the region have been keen on securing vaccines for their citizens through partnerships with pharmaceutical companies and international organizations. Additionally, there has been a shift towards the use of mRNA vaccines, which have been proven to be highly effective in preventing COVID-19 infections.

Local special circumstances: The COVID-19 Vaccines market in Eastern Africa is characterized by the availability of vaccines and the willingness of governments to invest in vaccination programs. Countries such as Kenya, Rwanda, and Uganda have been at the forefront of vaccine distribution, with the governments investing heavily in vaccination programs. However, there have been challenges in the distribution of vaccines due to inadequate infrastructure, lack of funding, and vaccine hesitancy among some sections of the population.

Underlying macroeconomic factors: The COVID-19 Vaccines market in Eastern Africa is influenced by several macroeconomic factors. The region has a high burden of infectious diseases, which has led to a focus on vaccine development and distribution. Additionally, the COVID-19 pandemic has had a significant impact on the economies of countries in the region, with governments investing in vaccination programs as a means of stimulating economic growth.In conclusion, the COVID-19 Vaccines market in Eastern Africa is developing at a steady pace, driven by the need to protect individuals from the virus. The market is characterized by the availability of vaccines, the willingness of governments to invest in vaccination programs, and the challenges in vaccine distribution. As the region continues to grapple with the pandemic, there is a need for continued investment in vaccine development and distribution to ensure that individuals are protected from the virus.

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.