Key regions: United Kingdom, Germany, France, South Korea, Italy
Montenegro, a small country nestled in the Balkans, has been making strides in the COVID-19 vaccines market.
Customer preferences: As with most countries, the customer preference in Montenegro is for vaccines that are efficacious and safe. However, due to the limited availability of vaccines, there has been a surge in demand for all available vaccines. This has led to a situation where customers are willing to take any vaccine that is available to them.
Trends in the market: The COVID-19 vaccines market in Montenegro has been developing at a steady pace. The country has received vaccines from various sources including the COVAX facility, the EU, and China. The government has been actively promoting the vaccines and has been successful in convincing a large percentage of the population to get vaccinated. As a result, the vaccination rate in the country has been steadily increasing.
Local special circumstances: Montenegro is a small country with a population of just over 600,000 people. The country has a well-developed healthcare system, which has helped in the efficient distribution of vaccines. The government has also been proactive in its approach to the pandemic and has implemented strict measures to control the spread of the virus.
Underlying macroeconomic factors: Montenegro's economy is heavily dependent on tourism, which has been severely impacted by the pandemic. The country's GDP contracted by 15.2% in 2020 due to the pandemic. The government has been trying to revive the economy by promoting domestic tourism and has been successful in attracting tourists from neighboring countries. The success of the vaccination drive has also helped in restoring confidence among tourists. In conclusion, the COVID-19 vaccines market in Montenegro has been developing steadily due to the government's proactive approach and the efficient distribution of vaccines. The success of the vaccination drive has also had a positive impact on the country's economy by restoring confidence among tourists.
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.
Mon - Fri, 9am - 6pm (EST)
Mon - Fri, 9am - 5pm (SGT)
Mon - Fri, 10:00am - 6:00pm (JST)
Mon - Fri, 9:30am - 5pm (GMT)
Mon - Fri, 9am - 6pm (EST)
