Vaccines - Madagascar

Madagascar

The Vaccines market in Madagascar is estimated to generate a revenue of US$54.37m by the year 2024.
It is anticipated that the market will experience a steady annual growth rate (CAGR 2024-2029) of -14.43%, leading to a market volume of US$24.95m by 2029.
When compared globally, United States is expected to generate the highest revenue in this market, reaching US$29,120.00m in 2024.
Madagascar is experiencing an increased demand for vaccines due to its unique biodiversity and the need to protect against infectious diseases.

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

Market

Region

Region comparison

Currency

Analyst Opinion

Madagascar, the fourth largest island in the world, is known for its unique flora and fauna, including the famous lemurs. The country has a population of over 26 million people and is one of the poorest countries in the world. The Vaccines market in Madagascar has been developing in a certain way due to various underlying factors.

Customer preferences: In Madagascar, the demand for vaccines is primarily driven by the need for protection against infectious diseases. The government has been actively promoting vaccination programs for children and adults to prevent the spread of diseases such as measles, polio, and tetanus. However, there is still a lack of awareness and trust in vaccines among some communities, which has led to low vaccination rates in certain regions.

Trends in the market: The Vaccines market in Madagascar has been growing steadily in recent years due to the increase in government funding for healthcare and vaccination programs. The demand for vaccines has also been driven by the outbreak of infectious diseases such as the plague and measles. The government has been working closely with international organizations such as the World Health Organization (WHO) to provide vaccines to the population.

Local special circumstances: Madagascar faces unique challenges in delivering vaccines to the population due to its geography and infrastructure. The country has a large rural population, and many areas are inaccessible by road, making it difficult to distribute vaccines. Additionally, the country has a limited number of healthcare workers, which has led to a shortage of trained personnel to administer vaccines.

Underlying macroeconomic factors: Madagascar's economy is heavily reliant on agriculture, which accounts for over a quarter of the country's GDP. The country has been facing economic challenges due to political instability, natural disasters, and the COVID-19 pandemic. These factors have led to a decrease in government funding for healthcare and vaccination programs, which could have an impact on the growth of the Vaccines market in the future.In conclusion, the Vaccines market in Madagascar has been developing due to the increase in government funding for healthcare and vaccination programs, as well as the outbreak of infectious diseases. However, the country faces unique challenges in delivering vaccines to the population due to its geography and infrastructure. The future growth of the market could be impacted by the country's economic challenges and the availability of government funding.

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.