Market Insights Health Pharmaceuticals Vaccines

COVID-19 Vaccines - Tanzania

Tanzania

in Tanzania, a country in East Africa, is also part of the global COVID-19 Vaccines market.
According to projections, the revenue in this market is expected to reach US$7.58m by 2024.
Furthermore, it is anticipated that there will be an annual growth rate (CAGR 2024-2029) of US$7.58m, leading to a market volume of [globalrevenue_currentlayer_yeartoday_currentcountryvalue] by 2029.
In comparison to other countries worldwide, United States is expected to generate the highest revenue in this market, with an estimated amount of US$4,389,000.00k in 2024.
Tanzania has recently shifted its COVID-19 vaccine strategy by focusing on alternative treatments and herbal remedies.

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

Market

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Analyst Opinion

The global COVID-19 pandemic has affected countries worldwide, and Tanzania is no exception. The COVID-19 Vaccines market in Tanzania has seen significant developments over the past year.

Customer preferences: Tanzania has a population of approximately 60 million people, with a significant portion living in rural areas. The Tanzanian government has prioritized vaccinating healthcare workers and vulnerable populations, including the elderly and those with underlying health conditions. However, there has been some vaccine hesitancy among the general population due to misinformation and distrust of the government.

Trends in the market: The Tanzanian government has received vaccines from various sources, including the COVAX facility and the Chinese government. However, the government has not released official data on the number of vaccines administered, leading to speculation about the actual vaccination rate. Additionally, there have been reports of counterfeit vaccines being sold in Tanzania, which has raised concerns about the safety and efficacy of the vaccines.

Local special circumstances: Tanzania has a unique political climate, with the current president taking a controversial stance on COVID-19. The government has downplayed the severity of the pandemic and discouraged the use of masks and social distancing measures. This has led to a lack of urgency in the vaccination campaign and a lack of transparency in reporting COVID-19 cases and deaths.

Underlying macroeconomic factors: Tanzania has a developing economy, with a significant portion of the population living in poverty. The pandemic has had a significant impact on the economy, with disruptions in supply chains and decreased demand for goods and services. The government has implemented various measures to mitigate the economic impact, including tax breaks and stimulus packages.In conclusion, the COVID-19 Vaccines market in Tanzania has been impacted by various factors, including customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors. The government's response to the pandemic has been controversial, leading to a lack of urgency in the vaccination campaign and a lack of transparency in reporting COVID-19 cases and deaths. Despite these challenges, the Tanzanian government has received vaccines from various sources and is working to vaccinate healthcare workers and vulnerable populations.

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.