Key regions: United Kingdom, Germany, France, South Korea, Italy
The Southern African region has been significantly impacted by the COVID-19 pandemic, with many countries struggling to contain the spread of the virus. As a result, the demand for COVID-19 vaccines has been high, with many countries in the region working to secure doses for their populations.
Customer preferences: The Southern African region has a diverse population with varying levels of access to healthcare. Many people in the region have been hesitant to get vaccinated due to concerns about the safety and efficacy of the vaccines. However, as the number of COVID-19 cases continues to rise, more people are becoming willing to get vaccinated.
Trends in the market: South Africa has been the leader in the COVID-19 vaccine market in the region, with the country securing doses from various manufacturers. Other countries in the region, such as Zimbabwe and Mozambique, have also secured doses but are struggling to distribute them due to logistical challenges. Additionally, there has been a rise in counterfeit vaccines in the region, which has led to concerns about the safety and efficacy of the vaccines.
Local special circumstances: South Africa has been hit particularly hard by the pandemic, with the country experiencing a surge in cases in the first half of 2021. The government has been working to secure vaccines for the population, but the rollout has been slow due to logistical challenges. Additionally, there have been concerns about the efficacy of the vaccines against new variants of the virus.
Underlying macroeconomic factors: The COVID-19 pandemic has had a significant impact on the economies of countries in the Southern African region, with many countries experiencing a decline in GDP. This has made it challenging for governments to secure vaccines for their populations, as they are competing with wealthier countries for limited doses. Additionally, the region has a high level of vaccine hesitancy, which has made it challenging to achieve herd immunity and control the spread of the virus.
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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