Vaccines - Lebanon | Statista Market Forecast

Lebanon's Vaccines market is expected to witness a significant increase in revenue, reaching US$23.12m by 2024.
This projection indicates a promising growth potential for the country in this market.
Furthermore, the market is anticipated to exhibit a compound annual growth rate (CAGR) of -0.23% between 2024 and 2029.
This growth trajectory will eventually lead to a market volume of US$22.86m by 2029.
When compared globally, it is worth noting that United States is expected to generate the highest revenue in the Vaccines market, reaching a staggering US$29.12bn in 2024.
This highlights the dominance of the United States in this sector on a global scale.
Lebanon's vaccine market is witnessing a surge in demand due to increasing awareness and government efforts to combat infectious diseases.

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 Vaccines market in Lebanon has been steadily developing in recent years, driven by changing customer preferences and local special circumstances.

Customer preferences: Lebanese customers are increasingly aware of the importance of vaccinations and are more willing to invest in preventative healthcare measures. This is partly due to the growing availability of information on the benefits of vaccines, as well as the increasing prevalence of infectious diseases in the region. In addition, the government has been actively promoting vaccination campaigns, which has helped to raise awareness and encourage uptake.

Trends in the market: One of the key trends in the Vaccines market in Lebanon is the growing demand for travel vaccines. As more Lebanese citizens travel abroad for work or leisure, there is an increasing need for vaccines to protect against diseases that are not common in Lebanon. Additionally, there has been a shift towards more specialized vaccines, such as those for cancer and autoimmune diseases, as well as vaccines for emerging infectious diseases.

Local special circumstances: Lebanon is a small country with a high population density, which makes it particularly vulnerable to outbreaks of infectious diseases. This has led to a greater emphasis on preventative healthcare measures, including vaccinations. In addition, the country has a large refugee population, which has put additional strain on the healthcare system and increased the risk of disease transmission.

Underlying macroeconomic factors: The Vaccines market in Lebanon is influenced by a range of macroeconomic factors, including government policies, healthcare infrastructure, and economic growth. The government has been actively promoting vaccination campaigns, which has helped to increase demand for vaccines. At the same time, the healthcare system in Lebanon is relatively well-developed, with a high number of hospitals and healthcare providers. Finally, Lebanon has experienced moderate economic growth in recent years, which has helped to support the development of the Vaccines market.

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.