Vaccines - Gambia | Statista Market Forecast

The revenue in the Vaccines market in Gambia is projected to reach US$13.21m in 2024.
It is expected to show an annual growth rate (CAGR 2024-2029) of -16.73%, resulting in a market volume of US$5.29m by 2029.
In global comparison, United States will generate the most revenue with US$29.12bn in 2024.
In Gambia, there is an increasing demand for vaccines due to the rise in infectious diseases and the government's focus on improving healthcare.

Definition:
This market covers vaccines against infectious diseases. They help to prevent diseases, usually through active immunization. Vaccines against infectious diseases transmitted by viruses (e.g., hepatitis A and B or COVID-19) and bacteria (e.g., typhoid fever or meningococcus) are included.

Additional information:
Market values represent the revenues generated by manufacture prices paid to primary vendors, either directly or through distribution channels (excluding VAT). Reported market revenues include spending by consumers (B2C), companies (B2B), and governments (B2G).

Company examples: Pfizer, GlaxoSmithKline, Merck & Co, Sanofi, Moderna, AstraZeneca

Vaccines against infectious diseases
Prophylactic and therapeutic vaccines
Flu vaccines
COVID-19 vaccines

Sera and gammaglobulins
Antivirals
Antibiotics

The demand for vaccines in Gambia has been on the rise in recent years due to various factors.

Customer preferences: Gambian customers have shown a growing interest in vaccines due to increased awareness of the importance of preventative healthcare. This has led to an increase in demand for vaccines for both children and adults. Additionally, the government has implemented various vaccination programs to improve public health, which has further contributed to the growth of the vaccines market.

Trends in the market: One of the major trends in the vaccines market in Gambia is the increasing demand for vaccines that protect against infectious diseases such as hepatitis B, measles, and yellow fever. This is due to the high prevalence of these diseases in the country. Another trend is the growing demand for vaccines for travelers, as more Gambians are traveling internationally for business and leisure.

Local special circumstances: Gambia has a high infant mortality rate, which has led to an increased focus on child immunization. The government has implemented various programs to improve child health, including routine immunization programs. Additionally, the country has a high incidence of infectious diseases, which has led to increased demand for vaccines.

Underlying macroeconomic factors: Gambia is a low-income country, and the cost of vaccines can be a significant barrier to access. However, the government has implemented various measures to improve access to vaccines, including subsidizing the cost of vaccines for children. Additionally, the country has a relatively small population, which can limit the economies of scale for vaccine manufacturers and distributors. However, the growing demand for vaccines in the country may provide opportunities for growth in the market.

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.

This report presents a comprehensive analysis and additional information on the Health market, in a PDF format.

As of March 2023, more than 13 billion COVID-19 vaccine doses had been administered worldwide. Wide-spread vaccine availability, increasing herd immunity, and lower case numbers led to renewed hope and a feeling of normality in 2023. However, especially during the winter seasons and with the potential emergence of new variants of the virus (like Omicron in 2021-2022), tracking of coronavirus cases repeatedly becomes a focus for the public. Thus, there is a level of uncertainty about what developments the winter season 2023/2024 might bring.