Market Insights Health Pharmaceuticals Vaccines

COVID-19 Vaccines - Ivory Coast

Ivory Coast

In Ivory Coast, the revenue generated in the COVID-19 Vaccines market is projected to reach US$53.32m in 2024.
Looking ahead, it is expected that the revenue will exhibit an annual growth rate (CAGR 2024-2029) of -18.15%, ultimately resulting in a market volume of US$19.59m by 2029.
When comparing this to the global market, it is worth noting that United States is expected to generate the highest revenue, reaching US$4,389,000.00k in 2024.
Ivory Coast is witnessing an increasing demand for COVID-19 vaccines, as the government ramps up its vaccination efforts to combat the spread of the virus.

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

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Analyst Opinion

The Ivory Coast, also known as Côte d'Ivoire, is a country located in West Africa. With a population of over 26 million people, the country is known for its cocoa production and diverse culture. In recent times, the country has been grappling with the COVID-19 pandemic and its impact on the economy. In this writeup, we will explore the trends and developments in the COVID-19 vaccines market in Ivory Coast.

Customer preferences: As with most African countries, Ivory Coast has a diverse population with varying levels of education and income. The majority of the population lives in rural areas and may not have access to proper healthcare facilities. Thus, there is a need for affordable and accessible vaccines. The government has been working to ensure that vaccines are available to all citizens, regardless of their location or income level. However, there is still some hesitancy among the population to take the vaccine due to misinformation and lack of trust in the government.

Trends in the market: Ivory Coast has been receiving vaccines through the COVAX facility, which aims to provide equitable access to vaccines for all countries. The government has also been in talks with pharmaceutical companies to secure more doses of the vaccine. However, the rollout of the vaccine has been slow due to logistical challenges and hesitancy among the population. The government has been working to address these issues by setting up vaccination centers across the country and launching awareness campaigns to educate the population about the importance of taking the vaccine.

Local special circumstances: Ivory Coast has a history of political instability and conflict, which has had an impact on the healthcare system. The country has a shortage of healthcare workers and medical equipment, which has made it difficult to respond to the pandemic. Additionally, the country has a large informal sector, which has been adversely affected by the pandemic. The government has been working to provide support to these individuals through cash transfers and other forms of assistance.

Underlying macroeconomic factors: Ivory Coast is the largest economy in the West African Economic and Monetary Union (WAEMU) and has been experiencing steady economic growth in recent years. However, the pandemic has had a significant impact on the economy, with a decline in economic activity and a rise in unemployment. The government has been implementing measures to support the economy, including tax breaks and financial support for businesses. The successful rollout of the vaccine will be crucial in reviving the economy and restoring consumer confidence.

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.