Key regions: Australia, Italy, France, South Korea, Brazil
The demand for vaccines has been on the rise in Honduras, with increasing awareness among the population about the importance of immunization in preventing diseases.
Customer preferences: Customers in Honduras prioritize vaccines that are effective against common diseases prevalent in the country such as measles, mumps, and rubella. They also prefer vaccines that are affordable and easily accessible. The government has also played a significant role in promoting vaccination programs in the country through public health campaigns and initiatives.
Trends in the market: The vaccines market in Honduras has witnessed significant growth in recent years, driven by increasing demand for immunization among the population. The market has also been boosted by the introduction of new and innovative vaccines that are more effective against diseases. The private sector has also been investing in the market, with the establishment of new vaccination centers and clinics across the country.
Local special circumstances: Honduras is a developing country with a high prevalence of infectious diseases, making vaccination a critical public health priority. The country has also been affected by natural disasters such as hurricanes and floods, which can increase the risk of disease outbreaks. The government has responded by investing in vaccination programs and initiatives to improve access to vaccines in remote and rural areas.
Underlying macroeconomic factors: Honduras has a relatively low GDP per capita compared to other countries in the region, which can limit access to healthcare services and vaccines for some segments of the population. However, the government has been working to improve access to healthcare through initiatives such as the expansion of the public health system and the implementation of universal healthcare coverage. The country's strategic location also makes it an important market for vaccine manufacturers looking to expand their presence in Central America.
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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