Key regions: Australia, Brazil, United Kingdom, Europe, Canada
The Other Vaccines market in Albania is experiencing steady growth in recent years.
Customer preferences: Albania has a universal healthcare system that provides free healthcare services to its citizens. However, the country has a low vaccination rate compared to other European countries. The majority of the population receives vaccines through the national immunization program, which covers only a few vaccines. Therefore, the demand for other vaccines is mainly driven by private clinics and individuals who prefer to receive additional vaccines.
Trends in the market: The Other Vaccines market in Albania is growing due to the increasing awareness of the benefits of vaccination and the availability of a wider range of vaccines. The market is also driven by the rising number of tourists visiting Albania, who require certain vaccines before traveling to the country. Additionally, the COVID-19 pandemic has increased the demand for vaccines, including the flu vaccine, which is expected to boost the market growth.
Local special circumstances: Albania is a small country with a population of approximately 2.9 million people. The healthcare system is decentralized, with the Ministry of Health responsible for healthcare policies and regulations, and regional health authorities responsible for managing healthcare services at the local level. The private sector plays a significant role in the healthcare system, including the provision of vaccines.
Underlying macroeconomic factors: Albania is a lower-middle-income country with a GDP per capita of around $5,000. The country's economy is heavily dependent on remittances, tourism, and agriculture. The healthcare sector accounts for a small portion of the GDP. The government has made efforts to improve the healthcare system, including increasing the healthcare budget and investing in healthcare infrastructure. However, the healthcare system still faces challenges, such as a shortage of healthcare professionals and inadequate healthcare facilities in rural areas. These challenges may affect the accessibility of vaccines in certain regions.
Data coverage:
Data encompasses B2B, B2G, and B2C spend. Figures are based on drug revenues allocated to the country where the money is spent. Monetary values are given at manufacturer price level excluding VAT.Modeling approach / Market size:
Market sizes are determined by a top-down approach, based on a specific rationale for each market. As a basis for evaluating markets, we use financial information of the key players by market. Next, we use relevant key market indicators and data from country-specific associations, such as industry associations. This data helps us estimate the market size for each country individually.Forecasts:
In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. For example, forecasts are based on historical developments, current trends, and key market indicators, using advanced statistical methods. The main driver is healthcare expenditure. Expiring patents and new drugs in the pipeline are also considered.Additional notes:
Data is modeled in US$ 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.
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