COVID-19 Vaccines - Egypt

Egypt

Highlights

The COVID-19 Vaccines market in Egypt is expected to witness a significant increase in revenue, projected to reach US$165.60m by 2024.
This growth is anticipated to continue at an annual growth rate of -15.63% from 2024 to 2029, resulting in a market volume of US$70.77m by the end of the forecast period.
When compared to other countries, it is worth noting that United States is expected to generate the highest revenue in this market, with an estimated value of US$4.39bn in 2024.
Egypt has experienced a surge in demand for COVID-19 vaccines, with a growing number of citizens seeking immunization to protect against the virus.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

Egypt, like many other countries, is currently experiencing the impact of the COVID-19 pandemic. The country has a population of over 100 million people, making it one of the most populous countries in Africa. As the world races to develop and distribute vaccines to combat the virus, the COVID-19 vaccines market in Egypt is also developing.

Customer preferences: Egyptians have shown a willingness to receive the COVID-19 vaccine, with many expressing eagerness to get vaccinated as soon as possible. This is largely due to the high number of cases and deaths in the country, which has created a sense of urgency among the population. Additionally, the government has been actively promoting the vaccine, which has helped to increase public confidence in its safety and efficacy.

Trends in the market: Currently, the COVID-19 vaccine market in Egypt is dominated by the Chinese Sinopharm vaccine and the British-Swedish AstraZeneca vaccine. These vaccines have been approved for emergency use in the country, and the government has secured millions of doses to vaccinate the population. Other vaccines, such as the Pfizer-BioNTech and Moderna vaccines, have not yet been approved for use in Egypt.

Local special circumstances: One of the unique challenges facing the COVID-19 vaccine market in Egypt is the country's large population and limited healthcare infrastructure. This has made it difficult to distribute the vaccine to everyone who needs it, particularly in rural areas. Additionally, there is a lack of public trust in the healthcare system, which has made some people hesitant to get vaccinated.

Underlying macroeconomic factors: Egypt's economy has been hit hard by the pandemic, with tourism and other industries suffering significant losses. The government has allocated significant resources to combat the virus and distribute the vaccine, but the economic impact of the pandemic may continue to be felt for some time. Additionally, Egypt is a lower-middle-income country, which means that affordability may be a factor in the distribution and uptake of the vaccine.

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.