Vaccines - Guinea | Statista Market Forecast

In Guinea, the revenue in the Vaccines market is projected to reach US$23.84m in 2024.
It is expected to show an annual growth rate (CAGR 2024-2029) of -11.91%, resulting in a market volume of US$12.64m by 2029.
In global comparison, United States will generate the most revenue with US$29.12bn in 2024.
Guinea has made significant strides in promoting vaccination campaigns, with a particular focus on eradicating diseases such as Ebola and meningitis.

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 Guinea Vaccines market has seen significant growth in recent years, driven by several factors that have contributed to the increased demand for vaccines in the country.

Customer preferences: The population in Guinea has become increasingly aware of the importance of vaccination in preventing diseases, particularly in the wake of the Ebola outbreak in 2014. This has led to a shift in customer preferences towards vaccines as a preventative measure, rather than just a treatment option.

Trends in the market: One of the key trends in the Guinea Vaccines market is the increasing demand for vaccines that target infectious diseases such as malaria and yellow fever. This is due to the high prevalence of these diseases in the country, which has resulted in a growing need for effective prevention strategies. Another trend in the market is the increasing availability of vaccines in rural areas, which has been facilitated by the expansion of the country's healthcare infrastructure.

Local special circumstances: Guinea faces several unique challenges in the Vaccines market, including a lack of awareness and education about the importance of vaccination, particularly in rural areas. Additionally, the country has a high poverty rate, which can make vaccines unaffordable for many people. These factors have contributed to a lower vaccination rate in Guinea compared to other countries in the region.

Underlying macroeconomic factors: The Guinea Vaccines market is influenced by several macroeconomic factors, including government policies and funding for healthcare. The government has taken steps to improve the country's healthcare infrastructure and increase access to vaccines, which has helped to drive growth in the market. Additionally, the country's economic growth and increasing middle class have contributed to the rising demand for vaccines.In conclusion, the Guinea Vaccines market is experiencing significant growth due to increasing awareness of the importance of vaccination, rising demand for vaccines that target infectious diseases, and improving healthcare infrastructure. However, the market still faces challenges such as a lack of awareness and education about vaccination, and affordability for many people.

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.