Market Insights Health Pharmaceuticals Vaccines

COVID-19 Vaccines - Kyrgyzstan

Kyrgyzstan

The COVID-19 Vaccines market in Kyrgyzstan is projected to reach a revenue of US$3.08m in 2024.
It is expected to show an annual growth rate of -18.32% (CAGR 2024-2029), resulting in a market volume of US$1.12m by 2029.
In global comparison, United States will generate the highest revenue, amounting to US$4,389,000.00k in 2024.
Amidst the COVID-19 pandemic, Kyrgyzstan has seen a surge in demand for vaccines, with its government implementing aggressive vaccination campaigns to ensure public health.

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

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Analyst Opinion

Kyrgyzstan, like many other countries in the world, is currently facing the challenge of vaccinating its population against COVID-19. Despite the challenges of vaccine distribution and administration, the COVID-19 vaccines market in Kyrgyzstan is developing in a certain way.

Customer preferences: Kyrgyzstan has a population of over 6 million people, and the government has made it a priority to vaccinate as many people as possible. However, there are still many people who are hesitant to get vaccinated due to a lack of trust in the vaccines and misinformation. This is a common trend in many countries, and it is important for the government and health officials to address these concerns and provide accurate information to the public.

Trends in the market: One trend in the COVID-19 vaccines market in Kyrgyzstan is the increasing availability of different vaccines. Initially, the country relied heavily on the Sputnik V vaccine from Russia, but now there are more options available such as the Sinopharm vaccine from China and the AstraZeneca vaccine from India. This diversification of vaccines has helped to increase the number of people getting vaccinated and has also helped to address concerns about vaccine efficacy.Another trend is the increasing role of private healthcare providers in vaccine distribution. Private clinics and hospitals are now offering vaccines for a fee, which has helped to increase access to vaccines for those who are willing to pay. However, this has also raised concerns about equity and access to vaccines for those who cannot afford to pay.

Local special circumstances: Kyrgyzstan is a lower-middle-income country with a developing healthcare system. This has presented challenges in terms of vaccine distribution and administration. The government has had to rely on donations from other countries and international organizations to secure enough vaccines for the population. Additionally, the country has a large rural population, which has made it difficult to reach some areas with the vaccines.

Underlying macroeconomic factors: The COVID-19 pandemic has had a significant impact on the Kyrgyz economy, which was already struggling before the pandemic. The government has had to divert resources towards pandemic response, which has further strained the economy. This has made it difficult for the government to invest in healthcare infrastructure and vaccine distribution. Additionally, the pandemic has disrupted global supply chains, which has made it difficult for Kyrgyzstan to secure enough vaccines for the population.In conclusion, the COVID-19 vaccines market in Kyrgyzstan is developing in a way that reflects the unique challenges and circumstances of the country. While there are still challenges to overcome, such as vaccine hesitancy and access to vaccines, the increasing availability of vaccines and the role of private healthcare providers are positive trends that are helping to increase vaccination rates in the country.

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.