Key regions: United Kingdom, Germany, France, South Korea, Italy
Equatorial Guinea, a small country located on the west coast of Africa, has been experiencing a steady growth in the COVID-19 vaccines market.
Customer preferences: Equatorial Guinea has been prioritizing the acquisition of COVID-19 vaccines to protect its citizens against the spread of the virus. The government has been actively seeking partnerships with pharmaceutical companies to ensure the availability of vaccines in the country. Moreover, the citizens have been showing a positive response towards the vaccines, with a significant number of people willing to get vaccinated.
Trends in the market: The COVID-19 vaccines market in Equatorial Guinea has been witnessing a growth in the number of vaccines being administered. This can be attributed to the increase in the availability of vaccines in the country. The government has been actively working towards securing more vaccines, and this has resulted in an increase in the number of people being vaccinated. Additionally, the country has been receiving assistance from other countries and organizations to help with the vaccination drive.
Local special circumstances: Equatorial Guinea has a small population, which has made it easier for the government to manage the vaccination drive. The country has been able to vaccinate a significant portion of its population, which has helped in controlling the spread of the virus. Moreover, the government has been working towards creating awareness about the importance of getting vaccinated, which has helped in increasing the number of people willing to get vaccinated.
Underlying macroeconomic factors: Equatorial Guinea has been facing economic challenges due to the pandemic, and the government has been working towards reviving the economy. The vaccination drive has been a crucial part of the government's plan to revive the economy. The government has been working towards creating a safe environment for businesses to operate, and the vaccination drive has been a key factor in achieving this. Additionally, the vaccination drive has helped in boosting the confidence of investors, which has resulted in an increase in investment in the country.
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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