Market Insights Health Pharmaceuticals Vaccines

COVID-19 Vaccines - Iraq

Iraq

Iraq is projected to see a significant increase in revenue in the COVID-19 Vaccines market.
By 2024, the projected revenue is expected to reach US$27.84m.
This growth is expected to continue with an annual growth rate (CAGR 2024-2029) of -17.56%.
As a result, the market volume is projected to reach US$10.60m by 2029.
In comparison to other countries, United States is expected to generate the highest revenue in the global COVID-19 Vaccines market.
In 2024, the projected revenue for the United States is estimated to be US$4,389,000.00k.
Despite challenges, Iraq is making progress in distributing and administering COVID-19 vaccines to its population.

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

Market

Region

Region comparison

Currency

Analyst Opinion

Iraq, like many other countries, has been hit hard by the COVID-19 pandemic. As a result, the demand for COVID-19 vaccines has skyrocketed in the country. In this write-up, we will explore the trends and developments in the COVID-19 vaccines market in Iraq.

Customer preferences: The Iraqi population has shown a strong preference for the Pfizer-BioNTech vaccine, which has been approved by the World Health Organization (WHO) for emergency use. This is likely due to the fact that the vaccine has shown high efficacy rates in clinical trials and has been approved by many other countries. However, the availability of the Pfizer-BioNTech vaccine in Iraq has been limited, which has led to the government looking to other vaccines, such as the AstraZeneca and Sinopharm vaccines, to meet the demand.

Trends in the market: The COVID-19 vaccines market in Iraq has seen a surge in demand in recent months, as the country battles a third wave of infections. However, the market has also been affected by supply chain disruptions, which have led to delays in the delivery of vaccines. This has resulted in a shortage of vaccines in the country, which has forced the government to look to other sources to meet the demand.

Local special circumstances: Iraq has a large population of internally displaced persons (IDPs), who are particularly vulnerable to the COVID-19 virus. The government has prioritized the vaccination of IDPs, along with healthcare workers and the elderly. However, the logistical challenges of delivering vaccines to IDPs, who are often living in remote and hard-to-reach areas, have made it difficult to ensure that everyone who needs a vaccine is able to get one.

Underlying macroeconomic factors: Iraq has been hit hard by the COVID-19 pandemic, with the economy contracting by an estimated 10% in 2020. The government has been struggling to finance its response to the pandemic, which has included the procurement of vaccines. This has led to delays in the delivery of vaccines, as the government has been forced to negotiate with suppliers to secure the best prices.In conclusion, the COVID-19 vaccines market in Iraq has seen a surge in demand in recent months, as the country battles a third wave of infections. However, the market has also been affected by supply chain disruptions, which have led to delays in the delivery of vaccines. The government has prioritized the vaccination of IDPs, healthcare workers, and the elderly, but logistical challenges have made it difficult to ensure that everyone who needs a vaccine is able to get one.

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.