Vaccines - Croatia

Croatia

In Croatia, the revenue in the Vaccines market is projected to reach US$63.96m in 2024.
It is expected to show an annual growth rate (CAGR 2024-2029) of -6.40%, resulting in a market volume of US$45.95m by 2029.
When comparing globally, United States is expected to generate the highest revenue in the Vaccines market, with US$29,120.00m in 2024.
Croatia is experiencing an increase in demand for vaccines due to the growing awareness of the importance of immunization among its population.

Key regions: Australia, Italy, France, South Korea, Brazil

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Analyst Opinion

The demand for vaccines in Croatia has been steadily increasing over the years.

Customer preferences: Customers in Croatia are increasingly aware of the importance of vaccines and their role in preventing diseases. This has led to a growing demand for vaccines, especially for children. Parents in Croatia are more likely to vaccinate their children due to the mandatory vaccination policy in schools.

Trends in the market: The vaccines market in Croatia is witnessing a shift towards more advanced and innovative vaccines. The demand for vaccines for diseases such as influenza, hepatitis, and pneumococcal infections is increasing. The market is also witnessing a rise in demand for combination vaccines that offer protection against multiple diseases.

Local special circumstances: Croatia has a mandatory vaccination policy for children attending schools, which has contributed to the growth of the vaccines market. Additionally, the country has a well-developed healthcare system that provides easy access to vaccines. The government also provides subsidies for certain vaccines, making them more affordable for the general population.

Underlying macroeconomic factors: The growing demand for vaccines in Croatia can be attributed to the increasing awareness of the importance of vaccines and the country's mandatory vaccination policy. The healthcare sector in Croatia is well-developed, and the government provides subsidies for certain vaccines, making them more affordable for the general population. These factors have contributed to the growth of the vaccines market in Croatia.

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.