Market Insights Health Pharmaceuticals Vaccines

COVID-19 Vaccines - Kazakhstan

Kazakhstan

The COVID-19 Vaccines market in Kazakhstan is expected to witness a significant growth in revenue, with projections indicating a reach of US$20.20m in 2024.
Furthermore, it is anticipated that the market will experience a steady annual growth rate (CAGR 2024-2029) of -17.37%, leading to a market volume of US$7.78m by 2029.
When compared globally, United States is projected to generate the highest revenue in this market, with an estimated US$4,389,000.00k in 2024.
As a journalist with deep knowledge about history, facts, and insights, here's a country-specific statement about the current trends in the COVID-19 vaccines market in Kazakhstan: "Kazakhstan is witnessing a surge in demand for COVID-19 vaccines, with a significant focus on procuring doses from multiple global suppliers to ensure widespread immunization."

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

Market

Region

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Analyst Opinion

The COVID-19 vaccines market in Kazakhstan has been experiencing significant growth in recent months.

Customer preferences: Kazakhstan has a population of over 18 million people, with a significant number of individuals expressing a willingness to receive the COVID-19 vaccine. The government has been actively promoting vaccination, and there is a growing awareness among the general public about the importance of getting vaccinated.

Trends in the market: The COVID-19 vaccines market in Kazakhstan has been dominated by the Russian-made Sputnik V vaccine. However, in recent months, there has been an increase in the availability of vaccines from other countries, including China's Sinovac and Sinopharm vaccines, as well as the AstraZeneca vaccine. This has led to increased competition in the market, with healthcare providers and pharmacies offering a wider range of vaccine options to customers.

Local special circumstances: One of the factors driving the growth of the COVID-19 vaccines market in Kazakhstan is the country's relatively low vaccination rate compared to other countries in the region. This has led to a sense of urgency among the population to get vaccinated and protect themselves from the virus. Additionally, Kazakhstan has a large number of migrant workers, many of whom have been prioritized for vaccination by the government.

Underlying macroeconomic factors: The COVID-19 pandemic has had a significant impact on the Kazakhstani economy, with many businesses struggling to stay afloat. The government has implemented a range of measures to support businesses and individuals affected by the pandemic, including providing financial assistance and implementing lockdown measures. The success of the vaccination campaign is seen as crucial to the country's economic recovery, with many businesses and industries relying on the resumption of international travel and trade. Additionally, the government has been working to improve the country's healthcare system, including investing in new hospitals and medical facilities, which has helped to increase access to vaccines for the population. Overall, the COVID-19 vaccines market in Kazakhstan is expected to continue to grow in the coming months, driven by a combination of government initiatives, increasing awareness among the population, and the availability of a wider range of vaccine options.

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.