Vaccines - Estonia

  • Estonia
  • The revenue in the Vaccines market of Estonia is forecasted to reach US$23.24m in 2024.
  • It is expected to exhibit an annual growth rate (CAGR 2024-2029) of 1.08%, leading to a market volume of US$24.52m by 2029.
  • When compared globally, United States is projected to generate the highest revenue, amounting to US$29,120.00m in 2024.
  • Estonia is rapidly embracing vaccination, with a high demand for vaccines and a proactive government campaign promoting immunization.

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

 
Market
 
Region
 
Region comparison
 
Currency
 

Analyst Opinion

The demand for vaccines in Estonia has been increasing steadily in recent years, indicating a growing awareness and concern for public health and disease prevention.

Customer preferences:
Estonians tend to prioritize preventive healthcare measures, including vaccinations, to maintain good health and prevent the spread of diseases. This trend is in line with global health recommendations and reflects a growing concern for public health and safety.

Trends in the market:
The vaccines market in Estonia is expected to experience significant growth in the coming years, driven by a rising demand for preventive healthcare and an increasing number of government initiatives aimed at promoting vaccination. The market is also being fueled by the growing prevalence of infectious diseases and the need to combat them effectively. The demand for vaccines is expected to be particularly high among children, the elderly, and individuals with chronic health conditions.

Local special circumstances:
Estonia has a well-established healthcare system that provides free or low-cost vaccinations to the population. The country also has a high vaccination coverage rate, indicating a strong commitment to disease prevention and public health. However, there have been concerns about vaccine hesitancy in some segments of the population, which could potentially hinder the growth of the market.

Underlying macroeconomic factors:
Estonia has a stable economy and a growing healthcare sector, which is expected to drive the growth of the vaccines market. The country also has a well-educated population with a high level of health literacy, which is likely to contribute to the demand for vaccines. Additionally, the Estonian government has implemented various policies and initiatives aimed at promoting public health and disease prevention, which is expected to further boost the growth of the vaccines market.

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.

Overview

  • Revenue
  • Analyst Opinion
  • Global Comparison
  • Methodology
  • Key Market Indicators
Please wait

Contact

Get in touch with us. We are happy to help.
Statista Locations
Contact Meredith Alda
Meredith Alda
Sales Manager– Contact (United States)

Mon - Fri, 9am - 6pm (EST)

Contact Yolanda Mega
Yolanda Mega
Operations Manager– Contact (Asia)

Mon - Fri, 9am - 5pm (SGT)

Contact Ayana Mizuno
Ayana Mizuno
Junior Business Development Manager– Contact (Asia)

Mon - Fri, 10:00am - 6:00pm (JST)

Contact Lodovica Biagi
Lodovica Biagi
Director of Operations– Contact (Europe)

Mon - Fri, 9:30am - 5pm (GMT)

Contact Carolina Dulin
Carolina Dulin
Group Director - LATAM– Contact (Latin America)

Mon - Fri, 9am - 6pm (EST)