Vaccines - Lithuania | Statista Market Forecast

The Vaccines market in Lithuania is expected to witness significant growth in the coming years.
According to projections, the revenue in this market is estimated to reach US$51.19m in 2024.
Furthermore, it is anticipated that the market will experience a steady annual growth rate (CAGR 2024-2029) of -4.21%, ultimately leading to a market volume of US$41.30m by 2029.
In terms of global comparison, United States is expected to generate the highest revenue in the Vaccines market, with an estimated value of US$29.12bn in 2024.
This highlights the dominance of the US market in this sector.
Lithuania has witnessed a significant increase in the demand for vaccines, driven by a strong government focus on public health and awareness campaigns.

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 Lithuania has been steadily growing over the past few years.

Customer preferences: Lithuanian customers have shown a growing interest in vaccines due to the increasing awareness of the importance of preventive healthcare. Vaccines are seen as an effective way to prevent diseases and infections and customers are willing to invest in them. Additionally, the COVID-19 pandemic has further highlighted the importance of vaccines and has increased the demand for them.

Trends in the market: One of the major trends in the Lithuanian vaccines market is the increasing demand for flu vaccines. The flu season in Lithuania usually starts in October and lasts until March, and customers are increasingly interested in getting vaccinated to prevent the flu. Another trend is the growing demand for vaccines for children. Parents are becoming more aware of the importance of vaccinating their children and are willing to invest in vaccines to protect them from various diseases.

Local special circumstances: Lithuania has a well-developed healthcare system and the government has been actively promoting preventive healthcare measures, including vaccination. The government provides free vaccines for certain groups of people, including children and elderly citizens, which has helped to increase the vaccination rate in the country. Additionally, there is a growing number of private healthcare providers that offer vaccines, which has increased the accessibility of vaccines for customers.

Underlying macroeconomic factors: The Lithuanian economy has been growing steadily over the past few years, which has led to an increase in disposable income for customers. This has made it easier for customers to invest in preventive healthcare measures, including vaccines. Additionally, the government has been investing in healthcare infrastructure, which has helped to improve the accessibility of vaccines for customers. The COVID-19 pandemic has also had an impact on the vaccines market, with the government investing in the development and distribution of vaccines to combat the pandemic.

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.