Market Insights Health Pharmaceuticals Vaccines

COVID-19 Vaccines - Ghana

Ghana

In Ghana, the revenue in the COVID-19 Vaccines market is estimated to reach US$63.69m in 2024.
The market is expected to witness an annual growth rate (CAGR 2024-2029) of -17.72%, leading to a market volume of US$24.02m by 2029.
When compared globally, United States is projected to generate the highest revenue of US$4,389,000.00k in 2024.
Ghana is experiencing a steady increase in the demand for COVID-19 vaccines, driven by government initiatives and public awareness campaigns.

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

Market

Region

Region comparison

Currency

Analyst Opinion

The COVID-19 pandemic has had a significant impact on the healthcare industry, with the development of vaccines being a top priority for countries worldwide. Ghana, like many other countries, has been working towards vaccinating its population. In this write-up, we will explore the trends and developments in the COVID-19 Vaccines market in Ghana.Customer Preferences: Ghana has a population of over 30 million people, and the government has made efforts to ensure that the vaccine is available to all citizens. However, there have been concerns about the safety and efficacy of the vaccine, which has led to some hesitancy among the population. Additionally, there have been reports of counterfeit vaccines being sold, which has further eroded trust in the vaccine.Trends in the Market: Despite the concerns about the vaccine, there has been a steady increase in the number of people getting vaccinated in Ghana. This can be attributed to the efforts made by the government to educate the population about the safety and efficacy of the vaccine. Additionally, the government has made efforts to ensure that the vaccine is available in all regions of the country.Local Special Circumstances: Ghana has a relatively stable political environment, which has helped in the distribution of the vaccine. Additionally, the country has a well-established healthcare system, which has made it easier to distribute the vaccine. However, there have been concerns about the availability of the vaccine, with some regions experiencing shortages.Underlying Macroeconomic Factors: The COVID-19 pandemic has had a significant impact on Ghana's economy, with the country experiencing a recession in 2020. This has made it difficult for the government to fund the vaccination program. However, the government has received support from international organizations such as the World Health Organization and the African Union, which has helped in the distribution of the vaccine.In conclusion, the COVID-19 Vaccines market in Ghana has seen steady growth despite concerns about the safety and efficacy of the vaccine. The government has made efforts to educate the population about the vaccine and ensure that it is available in all regions of the country. However, there have been concerns about the availability of the vaccine, and the government will need to work towards addressing these issues to ensure that the population is fully vaccinated.

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.