Vaccines - Israel | Statista Market Forecast

In 2024, the projected revenue in the Vaccines market for Israel is expected to reach US$197.00m.
Looking ahead, there is an estimated annual growth rate (CAGR 2024-2029) of 5.33%.
This growth is anticipated to lead to a market volume of US$255.40m by 2029.
When considering the global market, it is worth noting that United States is projected to generate the highest revenue, with US$29.12bn in 2024.
Israel's robust healthcare system and advanced research capabilities position it as a leading player in the development and distribution of innovative vaccines.

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 has been growing steadily in Israel, with a significant increase in recent years. Israel has one of the highest vaccination rates in the world, with a large percentage of the population being fully vaccinated against various diseases.

Customer preferences: The population in Israel values preventative healthcare and is highly aware of the importance of vaccination. This has led to a high demand for vaccines, not only for children but also for adults. Additionally, the government provides free vaccinations for certain diseases, which has further increased the demand for vaccines.

Trends in the market: The vaccines market in Israel has been growing steadily, with an increase in the number of vaccines being introduced in recent years. The demand for vaccines for diseases such as influenza, pneumococcal disease, and human papillomavirus (HPV) has been increasing. Additionally, there has been a growing demand for travel vaccines as more Israelis travel abroad.

Local special circumstances: Israel faces unique challenges in terms of vaccination due to its geopolitical situation. The country is located in a region with ongoing conflicts, which can make it difficult to provide vaccinations in certain areas. Additionally, the country has a diverse population, with different cultural and religious beliefs that can affect vaccination rates.

Underlying macroeconomic factors: The Israeli government has been investing heavily in healthcare, which has contributed to the growth of the vaccines market. Additionally, the country has a strong pharmaceutical industry, with several local companies involved in vaccine development and production. The high demand for vaccines has also attracted international companies to the Israeli market. Overall, the vaccines market in Israel is expected to continue growing in the coming years, driven by the increasing demand for preventative healthcare and the government's focus on healthcare investment.

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.