Market Insights Health Pharmaceuticals Vaccines

COVID-19 Vaccines - Kuwait

Kuwait

The COVID-19 Vaccines market in Kuwait is projected to reach a revenue of US$9.11m in 2024.
It is expected to exhibit an annual growth rate (CAGR 2024-2029) of -17.65%, leading to a market volume of US$3.45m by 2029.
In terms of global comparison, United States is anticipated to generate the highest revenue of US$4,389,000.00k in 2024.
Kuwait is witnessing a surge in demand for COVID-19 vaccines, with a growing number of citizens actively seeking vaccination to combat the spread of the virus.

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

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Analyst Opinion

The COVID-19 Vaccines market in Kuwait has been rapidly developing since the introduction of the vaccines in the country.

Customer preferences: The Kuwaiti population has shown a strong interest in receiving the COVID-19 vaccine, with a high demand for the vaccine since its introduction. The majority of the population has shown a willingness to receive the vaccine, with many individuals registering for the vaccine as soon as it became available.

Trends in the market: The COVID-19 Vaccines market in Kuwait has seen a significant increase in demand since the introduction of the vaccines in the country. The government has been actively promoting the vaccine, with many individuals receiving the vaccine through government-run vaccination centers. In addition, private healthcare providers have also been offering the vaccine to their patients, increasing accessibility to the vaccine.

Local special circumstances: Kuwait has a high population density, which has made it more susceptible to the spread of the virus. As a result, the government has been taking measures to control the spread of the virus, including the introduction of the vaccine. The government has been working to ensure that the vaccine is accessible to all individuals, regardless of their financial situation.

Underlying macroeconomic factors: The COVID-19 pandemic has had a significant impact on the Kuwaiti economy, with many businesses forced to close due to the lockdown measures. The introduction of the vaccine has been seen as a positive step towards the recovery of the economy, with the hope that the vaccine will help to control the spread of the virus and allow businesses to reopen. In addition, the government has been providing financial support to individuals and businesses affected by the pandemic, which has helped to mitigate the economic impact of the pandemic.

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.