Vaccines - Nepal

Nepal

In the year 2024, it is projected that the Vaccines market in Nepal will witness a significant growth in revenue, reaching a total of US$146.10m.
This growth is expected to continue in the following years, with an annual growth rate (CAGR 2024-2029) of -13.96%.
By the year 2029, the market volume is estimated to reach US$68.90m.
When comparing Nepal's Vaccines market revenue to the global market, it is important to note that United States is expected to generate the highest revenue, amounting to US$29,120.00m in the year 2024.
Nepal's vaccine market is witnessing a surge in demand due to increased awareness and government initiatives for immunization.

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

Market

Region

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Analyst Opinion

Nepal, a country in South Asia, has been making strides in the healthcare industry, particularly in the vaccines market.

Customer preferences: Nepal has a population of over 29 million people, with a significant portion residing in rural areas. The country has been facing challenges in providing adequate healthcare services to its citizens, which has led to a rise in demand for vaccines. The Nepalese government has been working towards increasing immunization coverage, especially for children, to prevent the spread of diseases.

Trends in the market: The vaccines market in Nepal has been witnessing steady growth due to various factors. One of the primary reasons is the increasing awareness among the population about the importance of vaccines. The Nepalese government has also been investing in the healthcare sector, which has led to the availability of better healthcare facilities and increased access to vaccines. Additionally, the rise in healthcare spending by individuals has also contributed to the growth of the vaccines market in Nepal.

Local special circumstances: Nepal is a landlocked country with a diverse population, which has led to unique challenges in the healthcare sector. The country is prone to natural disasters such as earthquakes, floods, and landslides, which can disrupt the healthcare system. Additionally, the country has a large number of migrant workers who are at risk of contracting diseases, which has led to an increased demand for vaccines.

Underlying macroeconomic factors: The Nepalese economy has been growing steadily over the past few years, with a focus on infrastructure development and tourism. The growth in the economy has led to an increase in disposable income, which has contributed to the rise in healthcare spending. The government has also been investing in the healthcare sector, which has led to the availability of better healthcare facilities and increased access to vaccines. The rise in healthcare spending by individuals has also contributed to the growth of the vaccines market in Nepal. In conclusion, the vaccines market in Nepal has been witnessing steady growth due to various factors such as increasing awareness among the population, government investments in the healthcare sector, and rise in healthcare spending. Despite the unique challenges faced by the Nepalese healthcare sector, the country has been making strides towards providing better healthcare services to its citizens.

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.