Vaccines - Japan | Statista Market Forecast

In Japan, the Vaccines market is expected to witness a significant growth in revenue, projected to reach US$4.74bn by 2024.
This indicates a positive trend in the market's performance.
Furthermore, it is estimated that the market will continue to grow at an annual growth rate of -1.19% from 2024 to 2029, resulting in a market volume of US$4.47bn by 2029.
When compared globally, it is noteworthy that United States is anticipated to generate the highest revenue in the Vaccines market, with a projected revenue of US$29.12bn in 2024.
This indicates the dominance of the United States in this market.
Japan's strict regulatory environment has led to a slower adoption of new vaccines compared to other countries.

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 Japan has been on the rise in recent years due to various factors.

Customer preferences: Japanese customers are becoming increasingly health-conscious, and there is a growing awareness of the importance of vaccinations in preventing diseases. Additionally, the aging population in Japan is also a significant factor in the demand for vaccines. The elderly are more susceptible to illnesses, and vaccines help to prevent the spread of diseases in this vulnerable population.

Trends in the market: There is a trend towards more advanced and specialized vaccines in Japan. There is a high demand for vaccines that are effective against specific diseases, such as HPV and pneumococcal disease. Additionally, there is a growing trend towards combination vaccines, which offer protection against multiple diseases in a single shot. The Japanese government has also been promoting vaccination programs, which has led to an increase in demand for vaccines.

Local special circumstances: One unique factor in the Japanese market is the strict regulations on vaccines. The government requires extensive testing and approval before a vaccine can be sold in Japan. This has led to a limited number of vaccines being available in the market, with only a few companies dominating the industry. Additionally, there is a high level of vaccine hesitancy in Japan, with many people being skeptical of the safety and efficacy of vaccines.

Underlying macroeconomic factors: The aging population in Japan is a significant macroeconomic factor driving the demand for vaccines. As the population ages, the healthcare system is under increasing pressure to provide care for the elderly. Vaccines are a cost-effective way to prevent illnesses and reduce the burden on the healthcare system. Additionally, the Japanese government has been promoting vaccination programs to reduce healthcare costs and improve public health. This has led to an increase in demand for vaccines and a growing market for vaccine manufacturers.

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.