COVID-19 Vaccines - Namibia

Namibia

Highlights

Namibia is projected to witness a substantial increase in revenue within the COVID-19 Vaccines market.
By 2024, the revenue is estimated to reach US$2.26m.
This growth is expected to continue with an annual growth rate of -18.29% from 2024 to 2029, resulting in a market volume of US$823.70k by the year 2029.
When compared globally, it is worth noting that United States is anticipated to generate the highest revenue in this market.
In 2024, the estimated revenue for the United States is US$4.39bn.
Namibia is experiencing a surge in demand for COVID-19 vaccines as the government ramps up its vaccination campaign to protect its population.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The COVID-19 pandemic has had a significant impact on the global economy, and the vaccines market is no exception. Namibia, a country in southern Africa, has been affected by the pandemic, and the COVID-19 vaccines market has been developing in response to the situation.

Customer preferences: In Namibia, there is a high demand for COVID-19 vaccines due to the spread of the virus. The government has been working to secure vaccines from various sources to ensure that the population is protected. Customers in Namibia prefer vaccines that have been approved by the World Health Organization (WHO) and have been shown to be effective in preventing the spread of the virus.

Trends in the market: The COVID-19 vaccines market in Namibia has been developing rapidly due to the high demand for vaccines. The government has been working to secure vaccines from different sources, including the COVAX facility, bilateral agreements, and donations from other countries. The vaccination campaign has been progressing steadily, with priority given to healthcare workers, the elderly, and people with underlying health conditions.

Local special circumstances: Namibia is a developing country with limited resources, and the COVID-19 pandemic has highlighted the importance of investing in healthcare infrastructure. The government has been working to improve healthcare facilities and increase access to vaccines, particularly in rural areas. The country has also been affected by the third wave of the pandemic, which has led to increased demand for vaccines.

Underlying macroeconomic factors: Namibia's economy has been affected by the pandemic, with a decline in GDP and a rise in unemployment. The government has been working to mitigate the impact of the pandemic on the economy, including providing financial support to affected businesses and households. The COVID-19 vaccines market has the potential to contribute to the country's economic recovery by reducing the spread of the virus and allowing businesses to operate more safely.

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.