Market Insights Health Pharmaceuticals Vaccines

COVID-19 Vaccines - Greece

Greece

The COVID-19 Vaccines market in Greece is expected to achieve a revenue of US$105.30m by the year 2024.
It is projected that the market will exhibit a compound annual growth rate (CAGR) of -18.55% from 2024 to 2029, leading to a market volume of US$37.75m by 2029.
When compared globally, United States is anticipated to generate the highest revenue of US$4,389,000.00k in 2024.
Greece is experiencing an increasing demand for COVID-19 vaccines, as the government intensifies its efforts to vaccinate the population and control the spread of the virus.

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

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Analyst Opinion

Greece, like many other countries, has been affected by the COVID-19 pandemic, which has led to a significant increase in demand for vaccines. As a result, the COVID-19 vaccines market in Greece has seen a surge in growth over the past few months.

Customer preferences: The majority of the Greek population has shown a willingness to get vaccinated against COVID-19. This has been reflected in the high vaccination rates across the country. Furthermore, as the country is heavily reliant on tourism, the government has made it mandatory for all tourism workers to be vaccinated, which has further increased the demand for vaccines.

Trends in the market: The COVID-19 vaccines market in Greece has seen a significant increase in demand, which has led to a shortage of vaccines in the country. This has resulted in the government having to import vaccines from other countries to meet the demand. The government has also been working to increase the production of vaccines in the country to reduce its reliance on imports.

Local special circumstances: Greece has a unique geography that has made it difficult to distribute vaccines across the country. The country consists of many islands, which has made it challenging to transport vaccines to remote areas. However, the government has been working to overcome this challenge by using boats and helicopters to transport vaccines to these areas.

Underlying macroeconomic factors: The COVID-19 pandemic has had a significant impact on the Greek economy, which has been struggling for many years. The government has been relying heavily on funds from the European Union to support the economy. The increase in demand for vaccines has led to an increase in government spending on healthcare, which has put further strain on the economy. However, the government has stated that it is committed to ensuring that everyone in the country has access to vaccines, regardless of their financial situation.

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.