Market Insights Health Pharmaceuticals Vaccines

COVID-19 Vaccines - Israel

Israel

The COVID-19 Vaccines market in Israel is projected to reach US$53.32m in terms of revenue by 2024.
The market is expected to exhibit an annual growth rate (CAGR 2024-2029) of -17.79%, which will result in a market volume of US$20.02m by 2029.
In comparison to other countries, United States will generate the highest revenue in this market, amounting to US$4,389,000.00k in 2024.
Israel leads the world in COVID-19 vaccine distribution, with an efficient and robust vaccination campaign reaching a high percentage of the population.

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

Market

Region

Region comparison

Currency

Analyst Opinion

Israel, a country with a population of over 9 million, has been making significant strides in the COVID-19 vaccination campaign. As of mid-June 2021, over 60% of the population has received at least one dose of the vaccine, and over 50% have been fully vaccinated. This has led to a decrease in the number of COVID-19 cases and deaths in the country.

Customer preferences: Israeli citizens have shown a high level of trust in the COVID-19 vaccines, with a majority of the population willing to get vaccinated. This has been attributed to the country's successful vaccination campaign, the government's efforts to promote vaccine uptake, and the high level of public trust in the healthcare system. Additionally, the Israeli government has been proactive in securing vaccine supplies, which has helped to ensure a steady supply of vaccines to the population.

Trends in the market: The COVID-19 vaccine market in Israel has been experiencing a surge in demand, which has been driven by the successful vaccination campaign and the high level of public trust in the vaccines. As a result, vaccine manufacturers have been ramping up production to meet the demand. Pfizer-BioNTech, which is the most widely used vaccine in Israel, has been increasing its production capacity to meet the country's needs. Additionally, the Israeli government has signed deals with other vaccine manufacturers, such as Moderna and AstraZeneca, to diversify the vaccine supply.

Local special circumstances: Israel's successful vaccination campaign can be attributed to several factors. Firstly, the country has a well-developed healthcare system that has been able to efficiently distribute the vaccines to the population. Secondly, the government has been proactive in securing vaccine supplies and has been working closely with vaccine manufacturers to ensure a steady supply of vaccines. Thirdly, the high level of public trust in the healthcare system and the vaccines has helped to encourage vaccine uptake.

Underlying macroeconomic factors: Israel's strong economy and high-income levels have allowed the government to invest heavily in the vaccination campaign. Additionally, the country's high level of public trust in the healthcare system has helped to ensure that the vaccination campaign is successful. The government's proactive approach to securing vaccine supplies has also been crucial in ensuring a steady supply of vaccines to the population. Overall, the COVID-19 vaccine market in Israel is expected to continue to grow as the country works towards achieving herd immunity.

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.