Key regions: United Kingdom, Germany, France, South Korea, Italy
The COVID-19 Vaccines market in Honduras has been showing interesting developments lately.
Customer preferences: Honduras has a population of over 9 million people, and the majority of them are young, with a median age of 24. This means that the demand for vaccines is likely to be lower than in countries with an older population. However, there is still a significant demand for vaccines, especially among those with pre-existing health conditions and the elderly.
Trends in the market: Honduras has been experiencing a surge in COVID-19 cases, which has led to an increase in demand for vaccines. The government has been actively promoting vaccination and has made efforts to secure vaccine supplies from different sources. As a result, there has been a noticeable increase in the availability of vaccines in the country.
Local special circumstances: Honduras is a low-income country, and this has had an impact on the vaccination campaign. The government has struggled to secure enough funding for the purchase of vaccines, and this has led to delays in the vaccination program. Additionally, there is a lack of infrastructure in some parts of the country, which has made it difficult to distribute vaccines to remote areas.
Underlying macroeconomic factors: The COVID-19 pandemic has had a significant impact on the Honduran economy, with GDP contracting by 9.6% in 2020. This has made it difficult for the government to secure funding for the purchase of vaccines. Additionally, the country has been facing political instability and social unrest, which has further complicated the vaccination campaign.In conclusion, the COVID-19 Vaccines market in Honduras is developing slowly due to the country's low-income status, political instability, and social unrest. However, the government's efforts to promote vaccination and secure vaccine supplies have led to an increase in the availability of vaccines. The demand for vaccines is likely to remain steady, especially among the elderly and those with pre-existing health conditions.
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.
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