Market Insights Health Pharmaceuticals Vaccines

COVID-19 Vaccines - Ukraine

Ukraine

The COVID-19 Vaccines market in Ukraine is expected to witness significant growth in the coming years.
By 2024, the projected revenue is estimated to reach US$122.90m.
This indicates a positive trend in the market's performance.
Furthermore, it is anticipated that the market will continue to grow at an annual growth rate of -17.81% between 2024 and 2029, resulting in a market volume of US$46.09m by 2029.
This steady growth trajectory signifies the increasing demand for COVID-19 vaccines in Ukraine.
In comparison to other countries, United States is set to generate the highest revenue in the COVID-19 Vaccines market.
By 2024, it is expected to reach a substantial amount of US$4,389,000.00k.
This showcases the dominant position of the United States in the global market for COVID-19 vaccines.
In Ukraine, there is a growing demand for COVID-19 vaccines as the government intensifies its efforts to vaccinate the population and control the spread of the virus.

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

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Analyst Opinion

Ukraine has been one of the countries that have been severely affected by the COVID-19 pandemic. With a population of over 40 million people, the country has been struggling to contain the spread of the virus. As a result, the demand for COVID-19 vaccines in Ukraine has been growing rapidly.

Customer preferences: The Ukrainian population has been showing a strong preference for vaccines that have been approved by the World Health Organization (WHO) or the European Medicines Agency (EMA). The Pfizer-BioNTech and AstraZeneca vaccines have been the most popular among the population. However, the Russian-made Sputnik V vaccine has also gained some popularity among Ukrainians.

Trends in the market: The demand for COVID-19 vaccines in Ukraine has been growing rapidly, and the government has been trying to secure enough doses to vaccinate the entire population. The country has been receiving vaccines through the COVAX initiative, as well as through direct purchases from vaccine manufacturers. However, the supply of vaccines has been limited, and the vaccination campaign has been progressing slowly.

Local special circumstances: Ukraine has been facing several challenges in its vaccination campaign. The country has been struggling with a lack of infrastructure and resources to distribute vaccines to remote areas. Additionally, there has been a lack of trust in the government and the healthcare system, which has led to vaccine hesitancy among some segments of the population.

Underlying macroeconomic factors: The Ukrainian economy has been struggling in recent years, and the COVID-19 pandemic has further exacerbated the situation. The country has been facing high levels of inflation, a weak currency, and political instability. These factors have made it difficult for the government to secure enough funding to purchase vaccines and distribute them effectively. Additionally, the country has been heavily reliant on foreign aid to support its vaccination campaign.

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.