Vaccines - Oman

Oman

The Vaccines market in Oman is expected to witness a significant revenue growth, projected to reach US$26.49m by 2024.
Furthermore, the market is anticipated to exhibit a steady annual growth rate (CAGR 2024-2029) of 4.58%, leading to a market volume of US$33.13m by 2029.
When compared globally, United States is projected to generate the highest revenue in the Vaccines market, with an estimated value of US$29,120.00m in 2024.
Despite its relatively small population, Oman has shown a strong commitment to promoting vaccination, with a high uptake rate and a well-established infrastructure for vaccine distribution.

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

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Analyst Opinion

The demand for vaccines in Oman has been growing steadily over the years due to various factors.

Customer preferences: Customers in Oman have shown a growing interest in preventive healthcare, including vaccinations. This is partly due to the government's efforts to raise awareness about the importance of vaccinations and the risks of infectious diseases. Additionally, the increasing number of expatriates in the country has also contributed to the demand for vaccines.

Trends in the market: The vaccines market in Oman has been witnessing a shift towards newer and more advanced vaccines. This trend is driven by the increasing prevalence of infectious diseases and the need for more effective and efficient vaccines. Furthermore, the market has also seen a rise in demand for vaccines for non-communicable diseases such as cancer and allergies.

Local special circumstances: Oman has a high prevalence of infectious diseases such as hepatitis and tuberculosis, which has led to a high demand for vaccines. The country also has a large expatriate population, who often require vaccinations before traveling to Oman. Additionally, the government has implemented various initiatives to increase vaccination rates, which has further contributed to the growth of the vaccines market.

Underlying macroeconomic factors: The growth of the vaccines market in Oman is also influenced by various macroeconomic factors such as population growth, urbanization, and healthcare expenditure. The increasing population and urbanization have led to a higher demand for healthcare services, including vaccinations. Moreover, the government's focus on improving healthcare services and increasing healthcare expenditure has also contributed to the growth of the vaccines market.

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.