Key regions: Australia, Italy, France, South Korea, Brazil
Equatorial Guinea, a small country located in West Africa, has been experiencing growth in its vaccines market in recent years.
Customer preferences: Customers in Equatorial Guinea have been increasingly interested in preventative healthcare measures, including vaccines. This is in line with a global trend towards prioritizing healthcare and disease prevention.
Trends in the market: One trend in the vaccines market in Equatorial Guinea is the increasing availability of vaccines. As the country's healthcare infrastructure improves, more vaccines are becoming accessible to the population. Additionally, there has been a growing focus on immunization campaigns, particularly for children, which has further increased demand for vaccines.Another trend is the emergence of new vaccines in the market. This includes vaccines for diseases such as meningitis and pneumonia, which are prevalent in the region. The introduction of these vaccines has been positively received by customers and has contributed to the growth of the market.
Local special circumstances: Equatorial Guinea has a small population, which has made it easier to implement immunization campaigns and distribute vaccines. Additionally, the government has been actively promoting the importance of vaccines, which has helped to raise awareness and increase demand.
Underlying macroeconomic factors: The growth of the vaccines market in Equatorial Guinea can be attributed to a combination of factors, including economic growth and improvements in healthcare infrastructure. The country has experienced significant economic growth in recent years, which has allowed for increased investment in healthcare. Additionally, the government has been working to improve the country's healthcare system, including increasing access to vaccines. Overall, the vaccines market in Equatorial Guinea is expected to continue to grow as the country's economy and healthcare infrastructure continue to improve. However, challenges such as limited resources and access to remote areas may hinder the growth of the market in the future.
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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