Vaccines - Norway | Statista Market Forecast

Vaccines - Norway

Norway

Highlights

in Norway, a country known for its focus on healthcare and innovation, is also a significant player in the Vaccines market.
The projected revenue for this market in Norway is estimated to reach US$279.20m in 2024.
This indicates a positive growth trend, as the revenue is expected to increase at an annual growth rate (CAGR 2024-2029) of 0.59%.
Looking ahead, by 2029, the Vaccines market in Norway is anticipated to expand further, with a market volume of US$287.60m.
This growth can be attributed to various factors, including increasing awareness about the importance of vaccinations and advancements in medical research.
In comparison to other countries, Norway's revenue in the Vaccines market may not be as significant as that of the United States.
In 2024, United States is projected to generate a staggering revenue of US$29.12bn, highlighting its dominance in this market on a global scale.
It is worth noting that these figures represent the revenue generated solely from the Vaccines market and do not take into account other healthcare sectors.
Nonetheless, the growth and potential of the Vaccines market in Norway demonstrate the country's commitment to ensuring the well-being of its citizens and contributing to global healthcare advancements.
Norway's strong healthcare system and high vaccination rates contribute to a growing demand for innovative vaccines in the country.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The demand for vaccines in Norway has been increasing steadily in recent years, driven by a combination of factors such as increasing awareness of the importance of preventive healthcare, rising incidence of infectious diseases, and government initiatives to promote vaccination.

Customer preferences: Norwegian customers have shown a growing interest in vaccines, particularly for diseases such as influenza, pneumococcal disease, and HPV. This trend is driven by a desire for preventive healthcare, as well as increasing awareness of the potential risks and complications associated with infectious diseases. In addition, there is a growing preference for vaccines that are safe, effective, and easy to administer.

Trends in the market: The Norwegian vaccines market is expected to continue growing in the coming years, driven by several key trends. Firstly, there is a growing focus on preventive healthcare, with more individuals seeking to protect themselves from infectious diseases. Secondly, there is increasing awareness of the importance of vaccination among healthcare professionals, who are playing an increasingly active role in promoting vaccination. Thirdly, there is a growing demand for new and innovative vaccines, particularly those that offer improved safety, efficacy, and convenience.

Local special circumstances: Norway has a well-established healthcare system, with a strong emphasis on preventive healthcare. The government provides free vaccines to certain high-risk groups, such as children, pregnant women, and individuals with chronic health conditions. In addition, there is a strong tradition of public trust in healthcare professionals, which has helped to promote vaccination uptake.

Underlying macroeconomic factors: The Norwegian economy is stable and prosperous, with a high standard of living and a well-educated population. This has helped to create a favorable environment for healthcare innovation and investment. In addition, the government has implemented several initiatives to promote vaccination, such as free vaccines for certain high-risk groups and public awareness campaigns. Finally, the Norwegian healthcare system is well-equipped to handle the demand for vaccines, with a strong network of healthcare professionals and facilities.

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.