Market Insights Health Pharmaceuticals Vaccines

COVID-19 Vaccines - Myanmar

Myanmar

The projected revenue for the COVID-19 Vaccines market in Myanmar is expected to reach US$34.33m in 2024.
This revenue is projected to grow at an annual growth rate (CAGR 2024-2029) of -17.84%, resulting in a market volume of US$12.85m by 2029.
When compared globally, United States is expected to generate the highest revenue in this market, amounting to US$4,389,000.00k in 2024.
Myanmar is facing challenges in distributing COVID-19 vaccines due to its limited healthcare infrastructure and ongoing political unrest.

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

Market

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Analyst Opinion

Myanmar, a country in Southeast Asia, has been facing challenges in its healthcare system due to its limited resources and infrastructure. The country has been struggling to control the spread of COVID-19, with a surge in cases in recent months. As the demand for vaccines increases, the COVID-19 vaccines market in Myanmar is also developing.

Customer preferences: Myanmar has a population of around 54 million, and the majority of the population lives in rural areas. The country has a low literacy rate, and many people do not have access to healthcare facilities. Due to these factors, the demand for vaccines in Myanmar is mainly driven by the government and international aid organizations. The general population may not have much influence on the choice of vaccines.

Trends in the market: Myanmar has received vaccines from different sources, including China, India, and the COVAX facility. The government has been prioritizing the vaccination of healthcare workers and vulnerable groups. However, the vaccination rate in Myanmar is still low compared to other countries in the region. This is partly due to the recent political instability in the country, which has disrupted the vaccination program.

Local special circumstances: Myanmar has been facing political turmoil since the military coup in February 2021. The coup has led to widespread protests, violence, and disruption of public services, including healthcare. The political situation has also affected the distribution of vaccines, with some areas experiencing shortages or delays in receiving vaccines. The recent surge in COVID-19 cases has further strained the healthcare system, highlighting the urgent need for vaccines.

Underlying macroeconomic factors: Myanmar is one of the poorest countries in Southeast Asia, with a GDP per capita of around $1,400. The healthcare system is underfunded and lacks resources, which has made it difficult to respond to the COVID-19 pandemic. The recent political instability has also affected the economy, with many businesses closing down and people losing their jobs. The government has limited resources to invest in the healthcare system, which has made it reliant on international aid and donations.In conclusion, the COVID-19 vaccines market in Myanmar is developing, but the country is facing significant challenges due to its limited resources and the recent political turmoil. The demand for vaccines is mainly driven by the government and international aid organizations, and the vaccination rate is still low compared to other countries in the region. The political situation has disrupted the vaccination program, highlighting the urgent need for stability and support from the international community.

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.