COVID-19 Vaccines - Senegal

Senegal

Highlights

The COVID-19 Vaccines market in Senegal is forecasted to achieve a revenue of US$18.41m in the year 2024.
It is expected to exhibit an annual growth rate (CAGR 2024-2029) of -16.87%, leading to a market volume of US$7.31m by 2029.
When compared globally, United States is projected to generate the highest revenue, amounting to US$4.39bn in 2024.
Senegal is actively working towards increasing vaccine access and distribution through partnerships with international organizations.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The COVID-19 pandemic has affected the world in unprecedented ways, and the race to develop vaccines has been a top priority for many countries. Senegal, a West African country, has been working to secure vaccines for its population.

Customer preferences: The Senegalese government has been working to ensure that the vaccines are accessible and affordable to its citizens. The government has prioritized healthcare workers, the elderly, and those with underlying health conditions for vaccination. There has also been a push to educate the public on the importance of getting vaccinated.

Trends in the market: Senegal has received vaccines from various sources, including the COVAX facility and donations from other countries. The country has also been in discussions with vaccine manufacturers to secure more doses. However, the rollout of vaccines has been slow due to supply chain challenges and a lack of infrastructure in some areas.

Local special circumstances: Senegal has a young population, with over 60% of its citizens under the age of 25. This demographic presents a unique challenge for vaccine distribution as younger individuals are less likely to experience severe symptoms of COVID-19. Additionally, there are concerns about vaccine hesitancy among some Senegalese citizens.

Underlying macroeconomic factors: Senegal is classified as a low-income country, and the pandemic has had a significant impact on its economy. The country has experienced a decline in tourism, which is a major source of revenue. Additionally, there have been disruptions in supply chains, leading to higher food prices. The government has been working to mitigate the economic impact of the pandemic through various measures, including debt relief and financial support for businesses. In conclusion, Senegal has been working to secure vaccines for its population, but the rollout has been slow due to supply chain challenges and a lack of infrastructure in some areas. The government has prioritized healthcare workers, the elderly, and those with underlying health conditions for vaccination. Senegal's young population and concerns about vaccine hesitancy present unique challenges for vaccine distribution. The pandemic has had a significant impact on Senegal's economy, and the government has been implementing measures to mitigate this impact.

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.