Market Insights Health Pharmaceuticals Vaccines

COVID-19 Vaccines - Guyana

Guyana

In Guyana, the revenue in the COVID-19 Vaccines market is forecasted to reach US$2.67m in 2024.
The market is expected to exhibit an annual growth rate (CAGR 2024-2029) of -15.80%, leading to a market volume of US$1.13m by 2029.
When compared globally, United States is projected to generate the highest revenue, with an estimated value of US$4,389,000.00k in 2024.
The COVID-19 vaccine distribution in Guyana has faced challenges due to limited healthcare infrastructure and logistical constraints.

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

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Analyst Opinion

The COVID-19 pandemic has significantly impacted the global economy, with the pharmaceutical industry being one of the most affected. The COVID-19 Vaccines market in Guyana has experienced a surge in demand due to the increasing number of cases in the country.

Customer preferences: Customers in Guyana have shown a preference for vaccines that have been approved by the World Health Organization (WHO) and other reputable health organizations. This preference for approved vaccines has led to an increase in demand for vaccines such as Pfizer-BioNTech, Moderna, and AstraZeneca.

Trends in the market: The COVID-19 Vaccines market in Guyana has seen an increase in the number of vaccines being administered due to the government's efforts to vaccinate the population. The government has implemented a vaccination campaign to ensure that a significant portion of the population is vaccinated. This has led to an increase in demand for vaccines, resulting in a surge in the market.

Local special circumstances: Guyana is a developing country with a population of approximately 800,000 people. The country has a high poverty rate, and access to healthcare is limited in some areas. The government's efforts to vaccinate the population have been met with some resistance due to misinformation and mistrust of the government. However, the government has been working to address these issues and increase awareness of the importance of vaccination.

Underlying macroeconomic factors: The COVID-19 pandemic has had a significant impact on the global economy, and Guyana is no exception. The country's economy has been negatively impacted by the pandemic, with a decrease in tourism and a slowdown in other industries. The government has been working to address these issues and has implemented measures to support businesses and individuals affected by the pandemic. The increase in demand for vaccines has provided an opportunity for the pharmaceutical industry to contribute to the country's economic recovery.

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.