Market Insights Health Pharmaceuticals Vaccines

COVID-19 Vaccines - Lebanon

Lebanon

Lebanon is a country that is also part of the global COVID-19 Vaccines market.
In 2024, it is projected that the revenue in this market will reach US$10.79m.
Looking ahead, there is an expected annual growth rate of -19.05% (CAGR 2024-2029), which will result in a market volume of US$3.75m by 2029.
When comparing in Lebanon to other countries globally, it is important to note that United States is expected to generate the highest revenue in this market, with an estimated US$4,389,000.00k in 2024.
Lebanon's COVID-19 vaccine market is facing challenges due to limited supply and logistical hurdles in reaching remote areas.

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

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Analyst Opinion

The COVID-19 pandemic has affected the entire world, including Lebanon. The country has been facing a severe economic crisis, political instability, and a collapsing healthcare system, which makes the vaccination process even more challenging.

Customer preferences: Lebanon has a population of approximately 6 million people, and the majority of the population is eager to get vaccinated. The country is home to a large number of expatriates, and they are also interested in getting vaccinated. However, there is a small group of people who are hesitant to get vaccinated due to misinformation and fear.

Trends in the market: The COVID-19 vaccines market in Lebanon has been developing at a slow pace due to various reasons. The country has been facing a shortage of vaccines, and the vaccination process has been slow. The government has been trying to secure more vaccines to speed up the vaccination process, but it has been challenging due to the global demand for vaccines. Moreover, the high cost of vaccines is also a significant challenge for the government as it has limited resources.

Local special circumstances: Lebanon has been facing a severe economic crisis, and the healthcare system has been collapsing due to the lack of funds and resources. The COVID-19 pandemic has worsened the situation, and the country has been struggling to provide basic healthcare services to its citizens. The government has been trying to secure more vaccines, but it has been challenging due to the limited resources. Moreover, the political instability in the country has also affected the vaccination process as the government has been struggling to make decisions.

Underlying macroeconomic factors: The COVID-19 pandemic has affected the global economy, and Lebanon has been facing a severe economic crisis for the past few years. The country has been struggling with high inflation, unemployment, and a collapsing currency. The government has limited resources to invest in the healthcare system, and the vaccination process has been slow due to the lack of funds. The global demand for vaccines has also affected the vaccination process in Lebanon as the country has been struggling to secure more vaccines.In conclusion, the COVID-19 vaccines market in Lebanon has been developing at a slow pace due to various reasons such as the shortage of vaccines, high cost, political instability, and economic crisis. The majority of the population is eager to get vaccinated, but the vaccination process has been slow. The government has been trying to secure more vaccines, but it has been challenging due to the limited resources. The situation in Lebanon is challenging, and the government needs to take immediate action to speed up the vaccination process and improve the healthcare system.

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.