Vaccines - Fiji | Statista Market Forecast

Vaccines - Fiji

Fiji

Highlights

The projected revenue in the Vaccines market for Fiji is expected to reach US$3.13m in 2024.
It is anticipated that the revenue will exhibit an annual growth rate (CAGR 2024-2029) of -6.75%, leading to a market volume of US$2.21m by 2029.
When compared globally, United States is projected to generate the highest revenue, reaching US$29.12bn in 2024.
Fiji's growing healthcare infrastructure and government initiatives are driving increased demand for vaccines, ensuring improved access and immunization rates in the country.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

Fiji, a country located in the South Pacific, is experiencing a steady growth in its vaccines market.

Customer preferences: As in many other countries, the demand for vaccines in Fiji is driven by the need to prevent and control infectious diseases. The population is increasingly aware of the importance of vaccination and the benefits it brings to individuals and society as a whole. In addition, the government of Fiji has implemented several vaccination programs to improve the health of its citizens, especially children and vulnerable groups.

Trends in the market: One of the main trends in the vaccines market in Fiji is the increasing availability of new vaccines. Pharmaceutical companies are developing and introducing new vaccines to the market, which are more effective, safer, and more convenient to use. This trend is driven by the global demand for vaccines, as well as the increasing investment in research and development.Another trend in the market is the growing popularity of combination vaccines. Combination vaccines are vaccines that protect against several diseases with a single shot. They are more convenient and cost-effective than individual vaccines, and they reduce the number of injections needed, which is particularly important for children.

Local special circumstances: Fiji has a unique set of circumstances that affect the vaccines market. The country is composed of more than 300 islands, which makes the distribution of vaccines challenging. The government has implemented several strategies to address this issue, such as establishing cold chain facilities and using mobile vaccination teams.In addition, Fiji has a high prevalence of certain infectious diseases, such as dengue fever and typhoid fever. This has led to an increased demand for vaccines that protect against these diseases.

Underlying macroeconomic factors: The vaccines market in Fiji is influenced by several macroeconomic factors. One of the main drivers of the market is the country's economic growth, which has led to an increase in healthcare spending. The government of Fiji has also implemented several policies to improve the healthcare system, which includes vaccination programs.Another factor that affects the vaccines market is the country's population growth. As the population grows, the demand for vaccines increases, particularly for children. Additionally, Fiji's geographic location and its dependence on tourism make it vulnerable to the spread of infectious diseases, which further increases the demand for 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.