COVID-19 Vaccines - Portugal

Portugal

Highlights

In Portugal, the revenue in the COVID-19 Vaccines market is estimated to reach US$148.40m in 2024.
It is expected to exhibit a compound annual growth rate (CAGR 2024-2029) of -17.51%, leading to a market volume of US$56.70m by 2029.
When compared globally, United States is projected to generate the highest revenue of US$4.39bn in 2024.
Portugal has been actively promoting COVID-19 vaccination campaigns, resulting in a high vaccination rate among its population.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

Portugal, like many other countries in Europe, has been working towards vaccinating its population against COVID-19. The COVID-19 Vaccines market in Portugal has been developing at a steady pace with increasing demand for vaccines.

Customer preferences: The Portuguese population has shown a willingness to get vaccinated against COVID-19. As of August 2021, over 60% of the population has received at least one dose of the vaccine. The government has been working towards increasing the number of vaccination centers and making it easier for people to get vaccinated. The population has also shown a preference for vaccines that have been approved by the European Medicines Agency (EMA).

Trends in the market: The COVID-19 Vaccines market in Portugal has been growing steadily with an increase in demand for vaccines. The government has been procuring vaccines from different manufacturers to ensure that there is enough supply for the population. The market has also seen an increase in the number of vaccination centers as the government works towards vaccinating as many people as possible.

Local special circumstances: Portugal has been dealing with a surge in COVID-19 cases in recent months. The government has been implementing measures to control the spread of the virus, including lockdowns and restrictions on gatherings. The vaccination campaign has been a key part of the government's strategy to control the spread of the virus. The government has also been working towards vaccinating people in remote areas and islands.

Underlying macroeconomic factors: The Portuguese economy has been recovering from the impact of the COVID-19 pandemic. The government has been implementing measures to support businesses and workers affected by the pandemic. The vaccination campaign has been a key part of the government's strategy to reopen the economy and return to normalcy. The government has also been working towards attracting tourists to the country, which has been an important source of revenue for the economy. The vaccination campaign has been seen as a way to reassure tourists that it is safe to travel to Portugal.

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.