Vaccines - New Zealand | Statista Market Forecast

The Vaccines market in New Zealand is anticipated to witness a significant growth in revenue, projected to reach US$80.97m in 2024.
This growth is expected to continue at an annual growth rate (CAGR 2024-2029) of 6.78%, leading to a market volume of US$112.40m by 2029.
In comparison to other countries, United States is forecasted to generate the highest revenue in the Vaccines market, with an estimated amount of US$29.12bn in 2024.
New Zealand's strong public health infrastructure and high vaccination rates make it a leading market for innovative vaccine development and distribution.

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

New Zealand is a country known for its stunning natural landscapes, diverse wildlife, and friendly locals. However, the country is not immune to the global trend of increasing demand for vaccines. In recent years, the Vaccines market in New Zealand has experienced steady growth, driven by various factors.

Customer preferences: New Zealanders are becoming more health-conscious and proactive in disease prevention, leading to an increase in demand for vaccines. Additionally, the government's focus on immunization programs has raised awareness and encouraged more people to get vaccinated.

Trends in the market: The Vaccines market in New Zealand has seen a shift towards more advanced and innovative vaccines. There is growing demand for vaccines that offer broader protection against multiple diseases, such as combination vaccines. Furthermore, the market has seen an increase in demand for vaccines that are more convenient to administer, such as oral vaccines.

Local special circumstances: New Zealand's unique geography and isolation from other countries have contributed to the country's strict biosecurity measures. This has resulted in a low incidence of some infectious diseases, such as rabies, which are prevalent in other parts of the world. However, this has also meant that New Zealand is vulnerable to the introduction of new diseases, making vaccines a crucial tool in disease prevention.

Underlying macroeconomic factors: New Zealand's growing population and ageing demographic have contributed to the increasing demand for vaccines. Additionally, the country's strong economy and high standard of living have allowed more people to afford vaccines. The government's investment in healthcare and immunization programs has also played a significant role in driving demand for vaccines.In conclusion, the Vaccines market in New Zealand is experiencing steady growth, driven by a combination of factors such as increasing health consciousness, demand for more advanced vaccines, and the government's focus on immunization programs. The country's unique geography and strict biosecurity measures have also made vaccines a crucial tool in disease prevention. The underlying macroeconomic factors, such as a growing population and strong economy, have contributed to the increasing demand for 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.

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.