Key regions: Australia, Italy, France, South Korea, Brazil
The Cuban healthcare system is known for its emphasis on preventative medicine and vaccination programs. The Vaccines market in Cuba has been steadily developing over the years, with a strong focus on preventing infectious diseases.
Customer preferences: Cubans place a high value on healthcare and prioritize preventative measures to avoid illnesses. The government provides free healthcare to all citizens, and vaccination programs are widely available and encouraged. Cubans typically prefer locally produced vaccines, which are more affordable and readily available.
Trends in the market: The Vaccines market in Cuba has seen a trend towards the development of new vaccines, particularly for diseases such as dengue fever and hepatitis B. The country has also been working on improving its vaccine production capabilities and expanding its export market to other countries in the region. Additionally, there has been a push towards the use of combination vaccines, which provide protection against multiple diseases in a single shot.
Local special circumstances: Cuba's socialist government has a strong focus on healthcare and has made significant investments in the development of its healthcare system. The country has a long history of vaccine research and production, with several state-run institutions dedicated to this field. However, due to the US embargo on Cuba, the country faces challenges in accessing certain medical supplies and technologies, which can hinder its vaccine development and production capabilities.
Underlying macroeconomic factors: Cuba's economy has been heavily impacted by the US embargo and the COVID-19 pandemic. The country has been facing shortages in basic goods and services, which can affect the availability and affordability of vaccines. However, the government's prioritization of healthcare and vaccine development has remained strong, despite these challenges. Additionally, the country's increasing focus on vaccine exports can provide opportunities for economic growth and development.
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.
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