Market Insights Health Pharmaceuticals Vaccines

COVID-19 Vaccines - Ethiopia

Ethiopia

Ethiopia's COVID-19 Vaccines market is expected to witness significant growth in the coming years.
By 2024, the projected revenue is estimated to reach US$195.00m.
This indicates a positive trend in the market and highlights the growing demand for vaccines in the country.
Furthermore, the market is predicted to display an annual growth rate (CAGR 2024-2029) of -16.29%.
This steady increase in revenue suggests a promising future for the COVID-19 Vaccines market in Ethiopia.
By 2029, the market volume is anticipated to reach US$80.14m, showcasing the country's potential in this sector.
It is worth noting that, in a global comparison, United States is expected to generate the highest revenue in the COVID-19 Vaccines market.
In 2024 alone, the projected revenue for the United States stands at US$4,389,000.00k.
This highlights the dominance of the United States in terms of market size and revenue generation.
Ethiopia has made significant progress in the distribution of COVID-19 vaccines, prioritizing vulnerable populations and rural areas.

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

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Analyst Opinion

The COVID-19 pandemic has affected Ethiopia just as it has affected the rest of the world, with the country experiencing a surge in cases and deaths. As a result, the Ethiopian government has been working to secure COVID-19 vaccines to protect its citizens.

Customer preferences: The Ethiopian population is diverse, with over 80 different ethnic groups, each with its own language and culture. This diversity can impact customer preferences for vaccines. Additionally, there is a high level of vaccine hesitancy in Ethiopia, with many people mistrusting vaccines due to misinformation and a lack of education about their benefits.

Trends in the market: Ethiopia has been working to secure COVID-19 vaccines through the COVAX facility, which aims to provide equitable access to vaccines for all countries. The country has also received donations of vaccines from other countries, including China. However, the rollout of vaccines has been slow due to logistical challenges and a lack of resources. As of August 2021, only a small percentage of the population has been fully vaccinated.

Local special circumstances: Ethiopia has faced several challenges in its efforts to secure and distribute COVID-19 vaccines. The country has a large population and a vast, rural landscape, which makes it difficult to reach all areas with vaccines. Additionally, there have been political tensions and conflicts in some regions of the country, which can impact the distribution of vaccines.

Underlying macroeconomic factors: Ethiopia is one of the poorest countries in the world, with a GDP per capita of less than $900. This has made it difficult for the country to secure the resources needed to purchase and distribute vaccines. Additionally, the country has faced other economic challenges, including high levels of inflation and a shortage of foreign currency. These factors have made it difficult for the government to allocate resources to the COVID-19 vaccination effort. In conclusion, Ethiopia has faced several challenges in its efforts to secure and distribute COVID-19 vaccines. The country has a diverse population with varying customer preferences for vaccines, and there is a high level of vaccine hesitancy. The rollout of vaccines has been slow due to logistical challenges and a lack of resources, and there have been political tensions and conflicts in some regions of the country. Ethiopia's status as one of the poorest countries in the world has also made it difficult for the government to allocate resources to the vaccination effort.

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.