Vaccines - Namibia | Statista Market Forecast

The Vaccines market in Namibia is expected to achieve a significant revenue of US$6.46m by 2024.
Furthermore, it is projected to exhibit a promising annual growth rate (CAGR 2024-2029) of 3.15%, leading to a market volume of US$7.54m by 2029.
In terms of global comparison, United States is anticipated to generate the highest revenue, amounting to US$29.12bn in 2024.
Namibia is experiencing a growing demand for vaccines due to the government's focus on improving healthcare infrastructure.

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 demand for vaccines in Namibia has been increasing steadily over the years.

Customer preferences: Namibians are becoming more health-conscious and are prioritizing preventative healthcare measures. As a result, there has been an increasing demand for vaccines, especially for diseases such as measles, polio, and hepatitis. Additionally, the government of Namibia has been actively promoting vaccination programs to increase the vaccination rate in the country.

Trends in the market: The vaccines market in Namibia has been growing due to the increasing demand for vaccines. The market is dominated by multinational pharmaceutical companies that have a strong presence in the country. These companies have been expanding their product portfolios to cater to the growing demand for vaccines. Additionally, the government has been partnering with these companies to provide vaccines to the population.

Local special circumstances: Namibia has a high burden of infectious diseases such as malaria and HIV/AIDS. The government has been actively working to combat these diseases through vaccination programs. Additionally, the country has a young population, with a median age of 22 years, which makes vaccination programs crucial in preventing the spread of diseases.

Underlying macroeconomic factors: Namibia has a small population of approximately 2.5 million people, which limits the size of the vaccines market. However, the country has a stable political environment and a growing economy, which has led to an increase in healthcare spending. This has resulted in increased funding for vaccination programs and an increase in the demand for vaccines. The government has also been working to improve the healthcare infrastructure in the country, which has made it easier to distribute vaccines to the population.In conclusion, the vaccines market in Namibia has been growing due to the increasing demand for vaccines, the government's efforts to promote vaccination programs, and the country's stable political environment and growing economy. The market is dominated by multinational pharmaceutical companies, and the demand for vaccines is driven by the high burden of infectious diseases 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.