Key regions: Australia, Italy, France, South Korea, Brazil
The demand for vaccines in Czechia has been on the rise in recent years, driven by various factors such as increasing awareness about the importance of immunization, growing healthcare expenditure, and the COVID-19 pandemic.
Customer preferences: Czechia has a well-established national vaccination program that provides free vaccines to all citizens. However, there is a growing trend of people opting for additional vaccines that are not covered by the national program. This trend is particularly evident among parents who are willing to spend more on their children's health and wellbeing.
Trends in the market: The COVID-19 pandemic has had a significant impact on the vaccines market in Czechia. The demand for COVID-19 vaccines has been high, and the government has been actively promoting vaccination to curb the spread of the virus. This has led to a surge in demand for other vaccines as well, as people become more aware of the importance of immunization. The market for travel vaccines has also been growing, as more people are traveling abroad and require vaccinations for diseases such as yellow fever and typhoid.
Local special circumstances: Czechia has a high level of healthcare infrastructure, with a well-established network of hospitals and clinics. The country is also home to several leading vaccine manufacturers, such as Zentiva and Pfizer, which have contributed to the growth of the local vaccines market. Additionally, the country has a high level of public trust in vaccines, with a recent survey showing that over 70% of Czechs believe that vaccines are safe and effective.
Underlying macroeconomic factors: The Czech economy has been growing steadily in recent years, with a GDP growth rate of 2.6% in 2019. This has led to an increase in healthcare spending, which has contributed to the growth of the vaccines market. The government has also been investing in healthcare infrastructure and promoting preventive healthcare measures, which has further boosted the demand for vaccines. However, the COVID-19 pandemic has had a negative impact on the economy, leading to a decline in consumer spending and a slowdown in the growth of the vaccines market.
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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