Vaccines - Laos

Laos

The Vaccines market in Laos is forecasted to achieve a revenue of US$1.77m in 2024.
It is anticipated to exhibit a compound annual growth rate (CAGR 2024-2029) of 6.37%, leading to a market volume of US$2.41m by 2029.
When compared globally, United States is expected to generate the highest revenue of US$29,120.00m in 2024.
Laos has seen a significant increase in demand for vaccines, driven by the government's efforts to improve healthcare infrastructure and raise awareness about the importance of immunization.

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

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Analyst Opinion

The demand for vaccines in Laos has been increasing in recent years due to various factors.

Customer preferences: Laotian customers are increasingly becoming aware of the importance of vaccines in preventing diseases and protecting their health. This has led to a growing demand for vaccines in the country. Additionally, the government has been actively promoting vaccination programs, which has further contributed to the increase in demand.

Trends in the market: One of the major trends in the vaccines market in Laos is the increasing demand for vaccines against infectious diseases such as Hepatitis B, Typhoid, and Japanese Encephalitis. This is due to the high prevalence of these diseases in the country. Another trend is the growing popularity of combination vaccines, which offer protection against multiple diseases in a single shot. This is convenient for customers and can lead to higher vaccination rates.

Local special circumstances: Laos is a developing country with a relatively low GDP per capita. This means that the affordability of vaccines is a significant factor for customers. The government has been working to make vaccines more affordable and accessible to the population through various initiatives such as subsidies and free vaccination programs for children.

Underlying macroeconomic factors: The healthcare sector in Laos is still developing and has limited resources. This has led to challenges in the distribution and availability of vaccines in certain areas of the country. However, the government has been investing in healthcare infrastructure and facilities, which is expected to improve the distribution and availability of vaccines in the future. Additionally, the country has a young population, which means that there is a growing market for pediatric vaccines. Overall, the vaccines market in Laos is expected to continue to grow in the coming years due to increasing awareness and government initiatives to improve healthcare access.

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.