Key regions: United Kingdom, Germany, France, South Korea, Italy
The COVID-19 Vaccines market in Northern Europe has been showing interesting trends and developments.
Customer preferences: There is a high demand for vaccines in Northern Europe due to the ongoing pandemic. Customers are looking for vaccines that have high efficacy rates and are approved by regulatory bodies. The preference for mRNA vaccines, such as Pfizer-BioNTech and Moderna, is also higher compared to other types of vaccines.
Trends in the market: In Denmark, the government has decided to stop using the AstraZeneca vaccine due to concerns about blood clots. This has led to an increased demand for other vaccines, such as Pfizer-BioNTech and Moderna. In Norway, the government has also paused the use of the AstraZeneca vaccine and has restricted the use of the Johnson & Johnson vaccine. This has led to delays in the vaccination rollout, but the demand for vaccines remains high. In Sweden, the vaccination rollout has been slower than expected due to supply chain issues, but the government has recently announced that all adults will be offered a vaccine by the end of September.
Local special circumstances: In Finland, the vaccination rollout has been relatively smooth, with a high percentage of the population receiving at least one dose of the vaccine. However, there are concerns about the low uptake of the AstraZeneca vaccine, which has led to a surplus of doses. In Iceland, the vaccination rollout has been successful, with a high percentage of the population fully vaccinated. The government has also started vaccinating tourists as part of their efforts to reopen the country to international travel.
Underlying macroeconomic factors: The COVID-19 pandemic has had a significant impact on the economies of Northern Europe, with many countries experiencing a recession. The vaccination rollout is seen as a key factor in the economic recovery, and governments are investing heavily in vaccine procurement and distribution. The high demand for vaccines has also led to increased investment in vaccine research and development, which could have long-term benefits for the region. Additionally, the pandemic has highlighted the importance of healthcare systems and public health, leading to increased investment in these areas.
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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