Market Insights Health Pharmaceuticals Vaccines

Other Vaccines - Austria

Austria

The Other Vaccines market in Austria is expected to witness a significant growth in revenue, projected to reach US$166.10m by 2024.
This growth is further expected to continue with an annual growth rate (CAGR 2024-2029) of 10.53%, resulting in a market volume of US$274.00m by 2029.
In global comparison, United States is anticipated to generate the highest revenue in the Other Vaccines market, with a projected revenue of US$24,730.00m in 2024.
Austria has seen a growing trend in the demand for other vaccines, with an increasing focus on preventative health measures.

Key regions: Australia, Brazil, United Kingdom, Europe, Canada

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Analyst Opinion

The Other Vaccines market in Austria is experiencing a steady growth in recent years.

Customer preferences: Austria has a strong healthcare system and its citizens are generally health-conscious. The demand for vaccines, including Other Vaccines, is high due to the country's emphasis on preventative healthcare. Additionally, the government provides free vaccinations for children and certain at-risk groups, which further drives demand for Other Vaccines.

Trends in the market: The Other Vaccines market in Austria is expected to grow in the coming years due to increasing awareness about the importance of vaccination and rising healthcare expenditure. The market is also being driven by the development of new vaccines and advancements in technology. However, the market is facing challenges such as vaccine hesitancy and the availability of alternative treatments.

Local special circumstances: Austria has a well-established pharmaceutical industry and a strong regulatory environment, which supports the growth of the Other Vaccines market. The country also has a high level of public trust in the healthcare system, which further encourages vaccination uptake. However, the market is facing challenges such as the need for greater public education on the benefits of vaccination and the potential side effects.

Underlying macroeconomic factors: Austria's strong economy and high healthcare expenditure are contributing to the growth of the Other Vaccines market. The country's aging population and increasing prevalence of chronic diseases are also driving demand for preventative healthcare measures such as vaccination. Additionally, the COVID-19 pandemic has highlighted the importance of vaccination and may further increase demand for Other Vaccines in the future.

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.