Vaccines - Czechia | Statista Market Forecast

The Vaccines market in Czechia is expected to experience significant growth in the coming years.
By 2024, the revenue in this market is projected to reach US$214.30m.
This growth is further expected to continue at an annual growth rate of -1.14% from 2024 to 2029.
As a result, the market volume is estimated to reach US$202.40m by 2029.
In comparison to other countries, United States is expected to generate the highest revenue in the Vaccines market.
In 2024, the revenue United States is projected to reach US$29.12bn.
Czechia is witnessing a growing demand for vaccines as the government prioritizes public health and aims to combat infectious diseases effectively.

Definition:
This market covers vaccines against infectious diseases. They help to prevent diseases, usually through active immunization. Vaccines against infectious diseases transmitted by viruses (e.g., hepatitis A and B or COVID-19) and bacteria (e.g., typhoid fever or meningococcus) are included.

Additional information:
Market values represent the revenues generated by manufacture prices paid to primary vendors, either directly or through distribution channels (excluding VAT). Reported market revenues include spending by consumers (B2C), companies (B2B), and governments (B2G).

Company examples: Pfizer, GlaxoSmithKline, Merck & Co, Sanofi, Moderna, AstraZeneca

Vaccines against infectious diseases
Prophylactic and therapeutic vaccines
Flu vaccines
COVID-19 vaccines

Sera and gammaglobulins
Antivirals
Antibiotics

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.

This report presents a comprehensive analysis and additional information on the Health market, in a PDF format.

As of March 2023, more than 13 billion COVID-19 vaccine doses had been administered worldwide. Wide-spread vaccine availability, increasing herd immunity, and lower case numbers led to renewed hope and a feeling of normality in 2023. However, especially during the winter seasons and with the potential emergence of new variants of the virus (like Omicron in 2021-2022), tracking of coronavirus cases repeatedly becomes a focus for the public. Thus, there is a level of uncertainty about what developments the winter season 2023/2024 might bring.