Key regions: Australia, Italy, France, South Korea, Brazil
The global vaccine market has been experiencing significant growth in recent years, and the G20 countries are no exception. With the ongoing COVID-19 pandemic, the demand for vaccines has surged, leading to a boost in the market.
Customer preferences: Customers in the G20 countries are increasingly prioritizing preventive healthcare measures, including vaccination. With the rise of infectious diseases and a growing awareness of the importance of vaccination, people are more willing to invest in vaccines. Additionally, the COVID-19 pandemic has highlighted the need for vaccines, leading to increased public support for vaccination efforts.
Trends in the market: The vaccine market in G20 countries is characterized by a growing demand for new and innovative vaccines. In recent years, there has been a significant increase in the development of vaccines for infectious diseases such as influenza, HPV, and meningitis. The COVID-19 pandemic has further accelerated this trend, leading to a surge in the development of vaccines for the virus. Additionally, there has been a growing interest in personalized vaccines, which are tailored to an individual's genetic makeup.
Local special circumstances: Each G20 country has its own unique circumstances that affect the vaccine market. For example, in countries with a high incidence of infectious diseases, there is a greater demand for vaccines. In contrast, countries with strong healthcare systems may have a greater focus on preventative measures such as vaccination. Additionally, each country has its own regulatory environment, which can affect the development and distribution of vaccines.
Underlying macroeconomic factors: The vaccine market in G20 countries is influenced by a range of macroeconomic factors, including government policies, healthcare spending, and research and development investment. Government policies such as vaccine mandates and subsidies can significantly impact the demand for vaccines. Additionally, healthcare spending levels can affect the availability and accessibility of vaccines. Finally, investment in research and development is crucial for the development of new and innovative 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.
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