Market Insights Health Pharmaceuticals Vaccines

COVID-19 Vaccines - Timor-Leste

Timor-Leste

The COVID-19 Vaccines market in Timor-Leste is forecasted to achieve a revenue of US$6.39m by the year 2024.
It is anticipated that this revenue will experience a steady growth rate of -17.25% annually, known as the Compound Annual Growth Rate (CAGR 2024-2029), ultimately leading to a market volume of US$2.48m by 2029.
In terms of global comparison, United States is expected to generate the highest revenue in this market, reaching US$4,389,000.00k in 2024.
Despite the challenges faced by Timor-Leste in procuring and distributing COVID-19 vaccines, the government's efforts to prioritize vaccination for vulnerable populations have shown promising progress.

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

Market

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Analyst Opinion

The COVID-19 vaccines market in Timor-Leste has been developing at a steady pace since the introduction of vaccines in the country.

Customer preferences: The majority of Timor-Leste's population prefers to receive the Sinovac vaccine, which was the first vaccine to be introduced in the country. However, there is also a growing demand for the Pfizer vaccine due to its higher efficacy rate.

Trends in the market: The COVID-19 vaccines market in Timor-Leste has been experiencing a steady increase in demand as the government continues to roll out its vaccination program. However, the supply of vaccines has been limited, which has resulted in a slow vaccination rate. As a result, the government has been working to secure more vaccines to meet the growing demand.

Local special circumstances: Timor-Leste is one of the poorest countries in Southeast Asia, and its healthcare system is underdeveloped. The government has been working to improve the country's healthcare infrastructure, but it still faces significant challenges in providing adequate healthcare to its population. The COVID-19 pandemic has highlighted the need for increased investment in the country's healthcare system.

Underlying macroeconomic factors: Timor-Leste's economy is heavily reliant on oil and gas exports, which have been affected by the COVID-19 pandemic. The country has experienced a significant decline in revenue from oil and gas exports, which has impacted its ability to invest in healthcare and other essential services. However, the government has been working to diversify the economy and reduce its reliance on oil and gas exports.

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.