Vaccines - Northern Europe

Northern Europe

In Northern Europe, the revenue in the Vaccines market is forecasted to reach US$1,341.00m in 2024.
It is anticipated that the revenue will exhibit an annual growth rate (CAGR 2024-2029) of -0.27%, leading to a market volume of US$1,323.00m by 2029.
When compared globally, United States is expected to generate the highest revenue of US$29,120.00m in 2024.
In Northern Europe, the demand for vaccines is driven by a strong emphasis on public health and a high level of trust in medical authorities.

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

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Analyst Opinion

The Vaccines market in Northern Europe has been experiencing significant growth in recent years.

Customer preferences: Customers in Northern Europe are increasingly prioritizing preventative healthcare measures, including vaccinations, as a means of maintaining good health. This trend is driven by a growing awareness of the benefits of vaccinations in preventing the spread of infectious diseases.

Trends in the market: One of the key trends in the Vaccines market in Northern Europe is the increasing demand for flu vaccines. Influenza is a common illness in the region, and customers are becoming more aware of the need for annual vaccinations to prevent its spread. Additionally, there is a growing demand for vaccines that address specific diseases, such as HPV and meningitis.

Local special circumstances: Northern Europe is home to a number of countries with highly developed healthcare systems, which has contributed to the growth of the Vaccines market in the region. Additionally, there is a strong tradition of public health initiatives in Northern Europe, which has helped to promote the importance of vaccinations.

Underlying macroeconomic factors: The growth of the Vaccines market in Northern Europe is also being driven by a number of underlying macroeconomic factors. These include increasing healthcare expenditure, an aging population, and rising incidences of infectious diseases. Additionally, there is a growing focus on preventative healthcare measures, which is driving demand for vaccines.

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.