Market Insights Health Pharmaceuticals Vaccines

COVID-19 Vaccines - Zambia

Zambia

The COVID-19 Vaccines market in Zambia is projected to witness a significant increase in revenue, reaching US$49.01m by 2024.
This represents a substantial growth opportunity for the country.
Furthermore, it is expected that the market will continue to expand at an annual growth rate (CAGR 2024-2029) of -16.84%.
This positive trend is anticipated to result in a market volume of US$19.49m by 2029, showcasing the potential for continued success in the sector.
When compared on a global scale, it is noteworthy that United States is expected to generate the highest revenue in this market, with an estimated value of US$4,389,000.00k in 2024.
This highlights the significance of the United States as a key player in the global COVID-19 Vaccines market.
In Zambia, there is a growing demand for COVID-19 vaccines as the government intensifies its efforts to vaccinate the population and curb the spread of the virus.

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

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Analyst Opinion

The COVID-19 pandemic has affected the world in unprecedented ways, and the race to develop and distribute effective vaccines has been a top priority for governments and pharmaceutical companies worldwide. Zambia, like many other countries, has been grappling with the challenges of the pandemic, and the COVID-19 vaccines market in Zambia has been developing in response to the unique circumstances of the country.

Customer preferences: Zambians have shown a willingness to receive the COVID-19 vaccine, with many expressing a desire to protect themselves and their communities from the virus. However, there have also been concerns and misconceptions about the safety and efficacy of the vaccines, which have led to some hesitancy among certain segments of the population.

Trends in the market: The COVID-19 vaccines market in Zambia has been characterized by a limited supply of vaccines, which has led to a phased rollout of the vaccine to priority groups such as healthcare workers and the elderly. Despite the challenges of vaccine distribution and administration, there has been a steady increase in the number of people receiving the vaccine, which bodes well for the country's efforts to contain the spread of the virus.

Local special circumstances: Zambia's healthcare system has faced significant challenges in responding to the pandemic, with limited resources and infrastructure to support widespread vaccination efforts. Additionally, the country has faced logistical challenges in distributing the vaccine to remote and rural areas, where access to healthcare services is limited. These challenges have necessitated a coordinated effort between the government, healthcare providers, and community leaders to ensure that the vaccine is distributed equitably and efficiently.

Underlying macroeconomic factors: Zambia's economy has been impacted by the pandemic, with disruptions to global supply chains and reduced demand for the country's key exports. These economic challenges have made it difficult for the government to fund its COVID-19 response efforts, including vaccine procurement and distribution. Additionally, the country's debt burden has limited its ability to invest in healthcare infrastructure and other critical areas, which has further complicated the pandemic response.In conclusion, the COVID-19 vaccines market in Zambia has been developing in response to the unique challenges posed by the pandemic, including limited vaccine supply, logistical challenges, and economic disruptions. While there have been concerns and misconceptions about the vaccine, the country's healthcare system and community leaders have been working together to ensure that the vaccine is distributed equitably and efficiently. As the vaccine rollout continues, it will be important to address these challenges and build on the momentum of the country's vaccination efforts to contain the spread of the virus.

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.