Market Insights Health Pharmaceuticals Vaccines

COVID-19 Vaccines - Haiti

Haiti

The COVID-19 Vaccines market in Haiti is projected to reach a revenue of US$7.69m in 2024.
It is expected to exhibit an annual growth rate (CAGR 2024-2029) of -18.12%, resulting in a market volume of US$2.83m by 2029.
In terms of global comparison, United States is anticipated to generate the highest revenue, amounting to US$4,389,000.00k in 2024.
Haiti faces significant challenges in the distribution and administration of COVID-19 vaccines due to its limited healthcare infrastructure and high levels of poverty.

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

Market

Region

Region comparison

Currency

Analyst Opinion

Haiti, a country in the Caribbean, has been experiencing a slow uptake of COVID-19 vaccines.

Customer preferences: One of the main reasons for the slow uptake of vaccines in Haiti is due to hesitancy among the population. This hesitancy is due to a lack of trust in the government and healthcare system, as well as misinformation and conspiracy theories circulating on social media. Additionally, many Haitians have a preference for traditional medicine and natural remedies over Western medicine.

Trends in the market: Despite the slow uptake of vaccines, there has been an increase in the number of vaccines being administered in Haiti in recent months. This increase is due to donations from other countries, such as the United States and Taiwan, as well as the rollout of the COVAX initiative. However, the number of vaccines being administered is still relatively low compared to other countries in the region.

Local special circumstances: Haiti has faced numerous challenges in its COVID-19 response, including political instability, economic hardship, and a lack of healthcare infrastructure. The country has also been dealing with the aftermath of a devastating earthquake and tropical storm, which has further strained its resources. These challenges have made it difficult for the government to effectively distribute and administer vaccines.

Underlying macroeconomic factors: Haiti is one of the poorest countries in the Western Hemisphere, with a GDP per capita of less than $1,300. The country has been facing economic hardship for years, with high levels of unemployment and poverty. This economic hardship has made it difficult for the government to fund its healthcare system and respond effectively to the COVID-19 pandemic. Additionally, the country has a high debt burden and limited access to international financing, which has further constrained its ability to respond to the crisis.

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.