Market Insights Health Pharmaceuticals Vaccines

COVID-19 Vaccines - Fiji

Fiji

The COVID-19 Vaccines market in Fiji is projected to reach a revenue of US$2.32m in 2024.
It is expected to exhibit an annual growth rate (CAGR 2024-2029) of -17.81%, leading to a market volume of US$0.87m by 2029.
When compared globally, United States is anticipated to generate the highest revenue, amounting to US$4,389,000.00k in 2024.
Fiji, a small island nation heavily reliant on tourism, is facing challenges in distributing and administering COVID-19 vaccines to its scattered and remote communities.

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

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Analyst Opinion

The COVID-19 pandemic has had a significant impact on the global healthcare industry, leading to a surge in demand for vaccines to combat the virus. Fiji, like many other countries, has been grappling with the pandemic, and the COVID-19 Vaccines market in the country has been developing in response to the situation.

Customer preferences: The people of Fiji have shown a strong willingness to receive the COVID-19 vaccine, with the government launching a nationwide vaccination campaign in April 2021. The majority of the population has expressed a desire to get vaccinated, and the government has been working to ensure that the vaccine is accessible to all.

Trends in the market: The COVID-19 Vaccines market in Fiji has been growing steadily, with various vaccine manufacturers supplying the country with doses. The government has been procuring vaccines through the COVAX facility, which is a global initiative aimed at ensuring equitable access to vaccines for all countries. In addition, the government has also been receiving donations of vaccines from other countries, which has helped to boost the supply of vaccines in the country.

Local special circumstances: Fiji is an archipelago in the South Pacific, and its geography has presented unique challenges in the distribution of vaccines. The government has had to rely on air and sea transport to get the vaccines to the remote islands, which has led to logistical challenges. However, the government has been working to overcome these challenges by partnering with local healthcare providers and community leaders to ensure that the vaccines reach all parts of the country.

Underlying macroeconomic factors: Fiji's economy has been heavily impacted by the COVID-19 pandemic, with the country's tourism industry taking a significant hit. The government has been working to diversify the economy and reduce the country's reliance on tourism, and the development of the COVID-19 Vaccines market is one step towards achieving this goal. The vaccination campaign is seen as a way to help revive the tourism industry by making Fiji a safe destination for tourists to visit.In conclusion, the COVID-19 Vaccines market in Fiji is developing in response to the country's unique circumstances and the global demand for vaccines. The government's efforts to ensure equitable access to vaccines for all and its partnership with local healthcare providers and community leaders have been instrumental in the successful rollout of the vaccination campaign. The development of the COVID-19 Vaccines market is also seen as a way to help revive the country's tourism industry and diversify its economy.

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.