Vaccines - Malta | Statista Market Forecast

The Vaccines market in Malta is anticipated to witness a significant increase in revenue, reaching US$13.03m by 2024.
It is projected to display a steady annual growth rate (CAGR 2024-2029) of 2.73%, leading to a market volume of US$14.91m by 2029.
In terms of global comparison, United States is expected to generate the highest revenue, amounting to US$29.12bn in 2024.
Malta's robust healthcare infrastructure and high vaccination rates have contributed to a growing demand for vaccines in the country.

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

Malta, a small island country in the Mediterranean, has a unique healthcare system with both public and private sectors. The Vaccines market in Malta has been developing steadily over the years due to various factors.

Customer preferences: Maltese citizens have been increasingly aware of the importance of vaccinations and have been actively seeking them out. The government has also been promoting vaccination through various campaigns and initiatives. As a result, the demand for vaccines has been steadily increasing.

Trends in the market: One of the major trends in the Vaccines market in Malta is the increasing demand for flu vaccines during the winter months. This is due to the high prevalence of flu during the winter season. Another trend is the growing demand for travel vaccines as more Maltese citizens are travelling abroad for both business and leisure.

Local special circumstances: Malta has a high population density, with a large number of tourists visiting the country every year. This makes it more vulnerable to the spread of infectious diseases. The government has been proactive in promoting vaccination to prevent the spread of diseases and protect public health.

Underlying macroeconomic factors: The Maltese economy has been growing steadily over the years, with a focus on the healthcare sector. The government has been investing in the healthcare system, which has led to an increase in the availability of vaccines. Additionally, the country's strategic location in the Mediterranean has made it an attractive location for pharmaceutical companies to set up operations.In conclusion, the Vaccines market in Malta has been developing steadily due to the increasing awareness and demand for vaccines among Maltese citizens, as well as the government's proactive approach to promoting vaccination. The growing economy and strategic location of Malta have also contributed to the development of the Vaccines market in the country.

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.