Market Insights Health Pharmaceuticals Vaccines

COVID-19 Vaccines - Northern Africa

Northern Africa

The COVID-19 Vaccines market in Northern Africa is expected to witness a significant growth in revenue, with projections indicating that it will reach US$0.34bn in 2024.
Furthermore, the market is anticipated to exhibit an impressive compound annual growth rate (CAGR 2024-2029) of -17.49%.
This steady growth trajectory is expected to result in a substantial market volume of US$0.13bn by 2029.
In terms of global comparison, it is noteworthy that United States is forecasted to generate the highest revenue in the COVID-19 Vaccines market, amounting to US$4,389,000.00k in 2024.
As COVID-19 cases continue to rise in Northern Africa, the demand for vaccines is surging, leading to a race among pharmaceutical companies to secure supply contracts with the countries in the region.

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

Market

Region

Region comparison

Currency

Analyst Opinion

The COVID-19 pandemic has caused a surge in demand for vaccines globally, and Northern Africa is no exception. The region has seen a significant increase in the production and distribution of COVID-19 vaccines in recent months.

Customer preferences: Customers in Northern Africa have shown a strong preference for vaccines that have been approved by the World Health Organization (WHO). This is because vaccines approved by the WHO are perceived to be safer and more effective. Additionally, customers in the region prefer vaccines that are affordable and easily accessible.

Trends in the market: Northern Africa has seen a significant increase in the production and distribution of COVID-19 vaccines in recent months. This is due to the efforts of various governments in the region to secure vaccine supplies and increase vaccine production. Additionally, there has been an increase in the number of private companies involved in vaccine production and distribution in the region.Egypt has emerged as a key player in the COVID-19 vaccine market in Northern Africa. The country has established itself as a hub for vaccine production and distribution in the region. Egypt has also been actively involved in the production of the Sinovac vaccine, which has been approved by the WHO.Morocco has also seen a significant increase in the production and distribution of COVID-19 vaccines. The country has been actively involved in the production of the AstraZeneca vaccine, which has been approved by the WHO. Morocco has also been involved in the production of the Sinopharm vaccine, which has been approved by several countries in the region.

Local special circumstances: One of the key challenges facing the COVID-19 vaccine market in Northern Africa is vaccine hesitancy. Many people in the region are skeptical of the safety and efficacy of the vaccines. This is due to a lack of information and misinformation about the vaccines. Governments in the region have been working to address this issue by launching public awareness campaigns and providing accurate information about the vaccines.Another challenge facing the COVID-19 vaccine market in Northern Africa is the lack of infrastructure and resources in some countries. This has made it difficult for some countries to secure vaccine supplies and distribute the vaccines effectively.

Underlying macroeconomic factors: The COVID-19 pandemic has had a significant impact on the economies of Northern Africa. Many countries in the region have experienced a decline in economic activity and an increase in unemployment. The production and distribution of COVID-19 vaccines in the region has the potential to stimulate economic growth and create jobs.Additionally, the COVID-19 pandemic has highlighted the importance of investing in healthcare infrastructure and research and development. Governments in the region are likely to increase their investment in these areas in the coming years in order to better prepare for future pandemics.

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.