COVID-19 Vaccines - New Zealand

New Zealand

Highlights

The COVID-19 Vaccines market in New Zealand is expected to witness a significant increase in revenue, reaching NZ US$16.26m by 2024.
Furthermore, it is projected to display a robust compound annual growth rate (CAGR 2024-2029) of -17.75%, ultimately leading to a substantial market volume of NZ US$6.12m by 2029.
When compared on a global scale, United States is anticipated to generate the highest revenue, amounting to US$4.39bn in 2024.
New Zealand has successfully implemented a widespread vaccination campaign, achieving high vaccination rates and effectively controlling the spread of COVID-19 within its borders.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

New Zealand has been one of the most successful countries in the world in controlling the spread of COVID-19. As of now, the vaccination drive in the country is in full swing with the government aiming to vaccinate the entire population by the end of 2021.

Customer preferences: The customer preferences in New Zealand are no different from those worldwide. The primary preference is for vaccines that have higher efficacy rates and fewer side effects. The Pfizer-BioNTech vaccine has been the most popular vaccine in the country, with the government procuring a significant amount of doses.

Trends in the market: The COVID-19 vaccines market in New Zealand has been witnessing a steady rise in demand since the beginning of the vaccination drive. The government has been procuring vaccines from various manufacturers, with the Pfizer-BioNTech vaccine being the most popular. This has led to a shortage of vaccines in the country, with the government prioritizing the most vulnerable groups. The vaccination drive has been progressing at a steady pace, with the government aiming to vaccinate the entire population by the end of the year.

Local special circumstances: New Zealand's geographical isolation has been a significant advantage in controlling the spread of COVID-19. The government's proactive measures, such as closing borders and strict quarantine rules, have been successful in keeping the number of cases low. However, this has also led to a shortage of vaccines in the country, as the government was unable to procure vaccines in large quantities due to the low number of cases.

Underlying macroeconomic factors: The New Zealand economy has been recovering steadily from the impact of COVID-19. The government's stimulus measures have been successful in boosting economic activity, and the country's GDP is expected to grow at a steady pace. The vaccination drive is expected to play a significant role in the country's economic recovery, as it will allow the government to ease restrictions and reopen the economy. However, the shortage of vaccines in the country could delay the government's plans to reopen the economy, which could have an adverse impact on the recovery.

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.