Other Vaccines - Baltics

Baltics

Highlights

The Other Vaccines market in the Baltics is expected to achieve a revenue of US$43.35m by 2024.
It is projected to exhibit a steady annual growth rate (CAGR 2024-2029) of 10.68%, leading to a market volume of US$72.01m by 2029.
In terms of global comparison, United States will generate the highest revenue, amounting to US$24.73bn in 2024.
The Baltics have seen a growing demand for other vaccines, driven by increased awareness and government initiatives.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Other Vaccines market in Baltics is witnessing some interesting trends and developments in recent years.

Customer preferences: Baltic countries have a high vaccination rate for routine vaccines, but the uptake of other vaccines is relatively low. This can be attributed to the lack of awareness and education on the importance of non-routine vaccines. However, there is a growing trend towards preventive healthcare, which is driving the demand for other vaccines in the region.

Trends in the market: The market for other vaccines in Baltics is expected to grow in the coming years, driven by the increasing demand for preventive healthcare. The rise in the number of infectious diseases and the growing awareness about the benefits of vaccination are also contributing to the growth of the market. Additionally, the introduction of new vaccines and the expansion of vaccination programs are expected to further boost the market.

Local special circumstances: Baltic countries have a well-established healthcare system, which makes it easier to distribute and administer vaccines. However, the region faces some challenges such as the lack of access to vaccines in rural areas and the high cost of some vaccines. The region also has a high prevalence of vaccine hesitancy, which can hinder the growth of the market.

Underlying macroeconomic factors: Baltic countries have a stable economy and a high standard of living, which makes it easier for people to afford vaccines. The region also has a high literacy rate and a well-educated population, which makes it easier to educate people about the importance of vaccination. Additionally, the region has a well-established pharmaceutical industry, which can support the growth of the market.In conclusion, the Other Vaccines market in Baltics is expected to grow in the coming years, driven by the increasing demand for preventive healthcare and the expansion of vaccination programs. However, the region faces some challenges such as the lack of access to vaccines in rural areas and the high prevalence of vaccine hesitancy.

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.