COVID-19 Vaccines - Lesotho

Lesotho

Highlights

The COVID-19 Vaccines market in Lesotho is expected to witness significant growth in the coming years.
By 2024, the projected revenue is estimated to reach US$3.19m.
Furthermore, the market is anticipated to exhibit a strong compound annual growth rate (CAGR) of -17.51% from 2024 to 2029.
As a result, the market volume is projected to reach US$1.22m by 2029.
When compared globally, United States is expected to generate the highest revenue in the COVID-19 Vaccines market.
In 2024, United States is projected to generate a revenue of US$4.39bn.
Lesotho is facing challenges in distributing COVID-19 vaccines due to its mountainous terrain and limited healthcare infrastructure.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

Lesotho, a small landlocked country within South Africa, has been severely affected by the COVID-19 pandemic. The country has been experiencing a rise in COVID-19 cases, which has led to a high demand for vaccines.

Customer preferences: The customer preferences in Lesotho are similar to those in other African countries. The majority of the population prefers vaccines that are affordable and easy to access. Additionally, there is a preference for vaccines that have been approved by the World Health Organization (WHO) and have been used in other countries with similar demographics.

Trends in the market: The COVID-19 vaccine market in Lesotho has been developing at a slower pace compared to other countries. This can be attributed to the limited availability of vaccines and the lack of infrastructure to distribute them to the population. The government has been working to secure more vaccines through partnerships with other countries and organizations. The demand for vaccines has been high, with many people willing to get vaccinated. However, there have been challenges in reaching remote areas and providing vaccines to vulnerable populations.

Local special circumstances: Lesotho's healthcare system faces unique challenges due to its geography. The country is mountainous, with many remote areas that are difficult to reach. This has made it challenging to distribute vaccines to the population, especially in rural areas. Additionally, there is a lack of healthcare infrastructure and resources in the country, which has made it difficult to handle the pandemic.

Underlying macroeconomic factors: Lesotho's economy has been heavily impacted by the COVID-19 pandemic. The country relies heavily on remittances from South Africa, which have decreased due to the economic downturn caused by the pandemic. This has made it difficult for the government to secure funding for vaccine distribution and other COVID-19 related initiatives. Additionally, the pandemic has led to a decrease in tourism, which is a significant source of income for the country. In conclusion, the COVID-19 vaccine market in Lesotho has been developing slowly due to the limited availability of vaccines and the challenges in distributing them to the population. The government has been working to secure more vaccines and improve vaccine distribution, but there are still significant challenges to overcome. The country's unique geography and lack of healthcare infrastructure have made it difficult to handle the pandemic. Additionally, the economic impact of the pandemic has made it challenging to secure funding for COVID-19 related initiatives.

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.