Key regions: United Kingdom, Germany, France, South Korea, Italy
The COVID-19 pandemic has hit Nepal hard, with a surge in cases in April and May 2021 leading to a healthcare crisis. As the country looks to vaccinate its population, the COVID-19 Vaccines market in Nepal is developing in a unique way.
Customer preferences: Nepal has a population of over 29 million people, and the government has set a target of vaccinating at least 72% of the population. However, there is some vaccine hesitancy among the population, with concerns about the safety and effectiveness of the vaccines. Additionally, there is a lack of awareness and education about the vaccines, which is contributing to the hesitancy.
Trends in the market: The COVID-19 Vaccines market in Nepal is dominated by the government, which is procuring vaccines through the COVAX facility and bilateral agreements with other countries. However, there is also a growing private market, with hospitals and clinics offering vaccines to those who can afford it. This is leading to inequities in access to vaccines, with the wealthy able to get vaccinated while the poor are left behind.
Local special circumstances: Nepal is a low-income country with limited resources, which is impacting its ability to procure and distribute vaccines. Additionally, the country is facing logistical challenges in getting vaccines to remote and rural areas, where healthcare infrastructure is limited. This is leading to delays in the vaccination campaign, which is hindering the country's ability to control the spread of the virus.
Underlying macroeconomic factors: The COVID-19 pandemic has had a significant impact on Nepal's economy, with a contraction in GDP and rising unemployment. This is affecting the government's ability to fund the vaccination campaign and invest in healthcare infrastructure. Additionally, the pandemic has disrupted global supply chains, which is impacting the availability of vaccines and other medical supplies in Nepal.In conclusion, the COVID-19 Vaccines market in Nepal is facing unique challenges due to the country's low-income status, limited healthcare infrastructure, and logistical challenges. The government is working to vaccinate the population, but vaccine hesitancy and inequities in access to vaccines are hindering progress. As the country continues to battle the pandemic, it will be important to address these challenges and ensure that all Nepalis have access to life-saving vaccines.
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.
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