Vaccines - Egypt | Statista Market Forecast

Vaccines - Egypt

Egypt

Highlights

In Egypt, the Vaccines market is anticipated to achieve a revenue of US$222.80m in 2024.
It is projected to exhibit a compound annual growth rate (CAGR 2024-2029) of -4.89%, leading to a market volume of US$173.40m by 2029.
When compared globally, United States is expected to generate the highest revenue, amounting to US$29.12bn in 2024.
Egypt has seen an increasing demand for vaccines, driven by the government's efforts to improve healthcare access and raise awareness about the importance of immunization.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Egyptian healthcare market has been growing at a steady pace in recent years, with the vaccines market being a significant contributor to this growth.

Customer preferences: Egypt has a large population with a significant proportion of young people, making vaccines a crucial aspect of public health. The Egyptian government has been actively promoting vaccination programs to prevent the spread of infectious diseases, especially among children. The majority of vaccines in Egypt are administered through public healthcare facilities, with a smaller proportion being distributed through private clinics and hospitals.

Trends in the market: The vaccines market in Egypt has seen significant growth in recent years, driven by a combination of factors such as an increase in the incidence of infectious diseases, government initiatives to promote vaccination programs, and a rise in the disposable income of the population. The market is dominated by multinational pharmaceutical companies, who have been investing heavily in research and development to cater to the growing demand for vaccines. There has also been a trend towards the adoption of new technologies in vaccine production, such as the use of recombinant DNA technology.

Local special circumstances: Egypt has a large population with a high incidence of infectious diseases such as hepatitis, typhoid, and meningitis. The government has been actively promoting vaccination programs to prevent the spread of these diseases, especially among children. However, there have been challenges in the implementation of these programs, such as a lack of awareness among the population, inadequate healthcare infrastructure, and limited funding.

Underlying macroeconomic factors: The Egyptian economy has been growing steadily in recent years, with a focus on sectors such as tourism, manufacturing, and agriculture. The healthcare sector has also been a significant contributor to the economy, with the government investing heavily in healthcare infrastructure and services. The rise in disposable income of the population has also contributed to the growth of the vaccines market, with more people able to afford healthcare services. However, the political and economic instability in the region has posed challenges to the growth of the market, with factors such as inflation, currency devaluation, and a shortage of foreign exchange affecting the availability and affordability of vaccines.

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.