Vaccines - Eastern Europe

Eastern Europe

In Eastern Europe, the Vaccines market is predicted to witness a substantial growth in revenue, with projections indicating that it will reach US$795.40m in 2024.
Furthermore, it is expected that the market will exhibit a steady annual growth rate of 2.45% from 2024 to 2029, resulting in a market volume of US$897.60m by the end of the latter year.
When compared on a global scale, it is worth noting that United States is anticipated to generate the highest revenue in the Vaccines market, with a projected figure of US$29,120.00m in 2024.
In Eastern Europe, the demand for vaccines has surged following recent outbreaks, leading to increased government investment in vaccine research and development.

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

Market

Region

Region comparison

Currency

Analyst Opinion

The demand for vaccines in Eastern Europe has been growing steadily in recent years.

Customer preferences: Eastern European countries have been increasing their investments in healthcare, leading to higher demand for vaccines. In addition, there is a growing awareness among consumers about the importance of preventative healthcare, which has further boosted the demand for vaccines.

Trends in the market: One trend in the Eastern European vaccines market is the increasing popularity of combination vaccines. These vaccines offer protection against multiple diseases in a single shot, making it more convenient for patients to receive their vaccinations. Another trend is the growing demand for flu vaccines, particularly during the winter months when the flu season is at its peak.

Local special circumstances: In some Eastern European countries, there is a lack of trust in vaccines due to historical events such as the polio vaccine scandal in the 1950s. This has led to a reluctance among some consumers to get vaccinated. However, governments and healthcare providers have been working to educate the public about the safety and efficacy of vaccines in order to increase vaccination rates.

Underlying macroeconomic factors: The Eastern European vaccines market is expected to continue growing due to several macroeconomic factors. These include increasing investments in healthcare infrastructure, rising disposable incomes, and a growing elderly population. In addition, the COVID-19 pandemic has highlighted the importance of vaccines in preventing the spread of infectious diseases, which is expected to further boost demand for vaccines in the region.

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.