Key regions: Australia, Italy, France, South Korea, Brazil
Luxembourg is a small country in Western Europe with a population of just over 600,000 people. Despite its small size, Luxembourg has a thriving economy and a growing healthcare sector. The vaccines market in Luxembourg is no exception, with several trends and developments shaping the industry.
Customer preferences: In Luxembourg, customers are increasingly interested in vaccines that offer protection against a wide range of diseases. This is reflected in the growing demand for combination vaccines, which provide immunity against multiple diseases in a single shot. Customers are also interested in vaccines that are safe, effective, and easy to administer. As a result, there is a growing demand for vaccines that can be given orally or via a nasal spray.
Trends in the market: One of the biggest trends in the vaccines market in Luxembourg is the growing demand for flu vaccines. This is due to the high incidence of flu in the country, particularly during the winter months. Another trend is the increasing demand for vaccines that protect against HPV (human papillomavirus), which is a common sexually transmitted infection that can cause cancer. The demand for HPV vaccines is being driven by public health campaigns that aim to raise awareness of the risks associated with the virus.
Local special circumstances: Luxembourg is a small country with a highly developed healthcare system. The country has a high vaccination rate, with most people receiving their vaccines through the national vaccination program. This program provides free vaccines to children and adults for a range of diseases, including measles, mumps, rubella, and pertussis. The program has been very successful in reducing the incidence of these diseases in the country.
Underlying macroeconomic factors: Luxembourg has a strong economy and a high standard of living. This has allowed the country to invest in its healthcare system, including its vaccination program. The country also has a highly educated population, which is more likely to understand the importance of vaccines and to seek out information about them. Additionally, Luxembourg is home to several international organizations, including the European Union, which has helped to promote public health initiatives and raise awareness of the importance of vaccines.
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.
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