Market Insights Health Pharmaceuticals Vaccines

COVID-19 Vaccines - Malta

Malta

In Malta, the revenue in the COVID-19 Vaccines market is anticipated to reach US$5.53m by the year 2024.
It is projected to exhibit a compounded annual growth rate (CAGR 2024-2029) of -16.99%, leading to a market volume of US$2.18m by 2029.
When compared globally, United States is expected to generate the highest revenue, amounting to US$4,389,000.00k in 2024.
Malta's robust healthcare infrastructure and efficient vaccination campaign have resulted in a high vaccination rate among its population.

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

Market

Region

Region comparison

Currency

Analyst Opinion

Malta, a small island country in the Mediterranean, has been making steady progress in vaccinating its population against COVID-19. As of August 2021, over 70% of the population has received at least one dose of the vaccine, and the country has been consistently ranked among the top countries in Europe for vaccine rollout.

Customer preferences: The Maltese population has shown a high level of willingness to get vaccinated against COVID-19, with many individuals eager to protect themselves and their loved ones from the virus. This has been reflected in the high vaccination rates seen in the country. Additionally, the government has been proactive in promoting vaccination and providing easy access to vaccines, which has further encouraged uptake.

Trends in the market: One trend that has emerged in the Maltese COVID-19 vaccine market is the increasing use of booster shots. As more time passes since the initial vaccine rollout, many individuals are seeking additional doses of the vaccine to ensure continued protection against the virus. This has led to a surge in demand for booster shots, which has been met with an increase in supply from the government and healthcare providers.Another trend in the Maltese market is the use of different vaccine brands. While the Pfizer-BioNTech vaccine has been the most widely used in the country, other vaccines such as Moderna and AstraZeneca have also been made available. This has allowed individuals to choose the vaccine that they feel most comfortable with, and has helped to ensure that there is enough supply to meet demand.

Local special circumstances: One unique aspect of the Maltese market is the country's small size and population. With just over 500,000 residents, the government has been able to quickly distribute vaccines and ensure that the majority of the population is vaccinated. Additionally, the country's status as a popular tourist destination has made vaccination a priority in order to protect both locals and visitors.

Underlying macroeconomic factors: The Maltese economy has been heavily impacted by the COVID-19 pandemic, with tourism and hospitality being among the hardest hit sectors. The vaccine rollout has been seen as a key factor in allowing the country to reopen and welcome back tourists, which has been a major driver of economic recovery. Additionally, the government's proactive approach to vaccination has helped to build trust and confidence in the country's healthcare system, which is important for both residents and visitors alike.

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.