Vaccines - Kuwait

Kuwait

The projected revenue in the Vaccines market for Kuwait is expected to reach US$50.39m in 2024.
Furthermore, the revenue is anticipated to demonstrate an annual growth rate (CAGR 2024-2029) of 7.25%, ultimately leading to a market volume of US$71.52m by 2029.
When compared globally, United States is projected to generate the highest revenue, with an estimated value of US$29,120.00m in 2024.
Kuwait's increasing focus on public health and commitment to vaccination programs is driving the demand for vaccines in the country.

Key regions: Australia, Italy, France, South Korea, Brazil

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Analyst Opinion

The demand for vaccines in Kuwait has been on the rise in recent years.

Customer preferences: Kuwait has a high demand for vaccines due to the country's high population growth rate and the government's focus on improving public health. Additionally, many Kuwaiti citizens travel frequently, increasing the need for vaccinations to prevent the spread of diseases.

Trends in the market: The vaccines market in Kuwait has seen significant growth due to the government's focus on improving public health and the increasing demand for vaccines among the population. In recent years, there has been a rise in the number of private healthcare providers offering vaccines, increasing access to vaccinations for the general public. The market has also seen an increase in the availability of new vaccines, particularly those aimed at preventing infectious diseases.

Local special circumstances: Kuwait has a unique demographic profile, with a high percentage of expatriates living and working in the country. This has led to a greater demand for vaccines, as many expatriates come from countries where certain diseases are more prevalent. Additionally, the country's hot climate and high humidity levels make it a suitable environment for the spread of diseases, further increasing the need for vaccinations.

Underlying macroeconomic factors: Kuwait's strong economy and high per capita income have contributed to the growth of the vaccines market in the country. The government's focus on improving public health has also led to increased investment in the healthcare sector, including the vaccines market. Furthermore, the country's strategic location as a transportation hub has led to a greater need for vaccinations to prevent the spread of diseases across borders.

Methodology

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.