Market Insights Health Pharmaceuticals Vaccines

COVID-19 Vaccines - Madagascar

Madagascar

In 2024, the projected revenue for the COVID-19 Vaccines market in Madagascar is expected to reach US$51.74m.
It is estimated that there will be an annual growth rate (CAGR 2024-2029) of -16.92%, leading to a market volume of US$20.48m by 2029.
When compared globally, United States is expected to generate the highest revenue, reaching US$4,389,000.00k in 2024.
Despite facing logistical challenges, Madagascar has shown a strong commitment to vaccinating its population against COVID-19.

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

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Analyst Opinion

Madagascar, the fourth largest island in the world, is known for its unique wildlife, stunning landscapes, and rich culture. However, the country has been facing challenges in its healthcare system, and the COVID-19 pandemic has only exacerbated these issues. In this context, the COVID-19 vaccines market in Madagascar is developing in a certain way.

Customer preferences: Madagascar has a population of over 27 million people, and the country has been hit hard by the COVID-19 pandemic. As of August 2021, Madagascar has reported over 43,000 cases and more than 900 deaths. The government has been working to secure vaccines for its population, but the rollout has been slow due to various factors such as vaccine hesitancy and logistical challenges.

Trends in the market: The COVID-19 vaccines market in Madagascar is still in its early stages, and the demand for vaccines is high. However, the supply of vaccines has been limited, and the government has been relying on donations from other countries and organizations. The vaccines that have been approved for use in Madagascar include AstraZeneca, Sinopharm, and Covishield.

Local special circumstances: One of the challenges in the COVID-19 vaccines market in Madagascar is the lack of infrastructure and resources for vaccine distribution. Madagascar is a large island with a dispersed population, and the country has limited healthcare facilities. The government has been working to overcome these challenges by setting up vaccination centers and mobilizing healthcare workers to reach remote areas.

Underlying macroeconomic factors: Madagascar is one of the poorest countries in the world, and the COVID-19 pandemic has had a significant impact on the country's economy. The government has been struggling to secure funding for its healthcare system, and the country has been relying on international aid to support its COVID-19 response. The slow rollout of vaccines in Madagascar is partly due to the country's limited resources and infrastructure.In conclusion, the COVID-19 vaccines market in Madagascar is still in its early stages, and the country is facing significant challenges in vaccine distribution. The demand for vaccines is high, but the supply is limited, and the government is working to overcome logistical challenges and vaccine hesitancy. The slow rollout of vaccines in Madagascar is a reflection of the country's limited resources and infrastructure, and the government will need to rely on international aid to support its COVID-19 response.

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.