Other Vaccines - Belgium

Belgium

Highlights

Belgium is projected to witness a significant growth in the Other Vaccines market, with revenue expected to reach US$266.40m by 2024.
This projection indicates a promising future for the market in the country.
Furthermore, the market is anticipated to exhibit an annual growth rate (CAGR 2024-2029) of 9.84%, resulting in a substantial market volume of US$425.90m by 2029.
When compared globally, it is worth noting that United States is expected to generate the highest revenue in the Other Vaccines market, with an estimated value of US$24.73bn in 2024.
This underscores the dominance of the United States in the market, highlighting its position as a major player in the global vaccine industry.
Belgium is experiencing a growing demand for other vaccines as the government emphasizes preventive healthcare measures.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Other Vaccines market in Belgium has been experiencing steady growth in recent years.

Customer preferences: Belgian customers have shown a preference for vaccines that provide protection against a range of diseases, including those beyond the standard childhood immunizations. This has led to an increased demand for Other Vaccines, which offer protection against a variety of illnesses such as meningococcal disease and HPV.

Trends in the market: One of the main trends in the Other Vaccines market in Belgium is the increasing number of adults seeking immunization. This is due to a growing awareness of the importance of vaccination in preventing illness, as well as an aging population that is more susceptible to disease. Additionally, the COVID-19 pandemic has raised awareness of the importance of vaccination and may have contributed to an increase in demand for Other Vaccines.

Local special circumstances: Belgium has a highly developed healthcare system that provides universal coverage to its citizens. This has allowed for easy access to vaccination services, which has contributed to the growing demand for Other Vaccines. Additionally, Belgium is home to several international organizations, including the European Union and NATO, which has led to a high concentration of expatriates and travelers. This has created a demand for vaccines that offer protection against diseases that are prevalent in other parts of the world.

Underlying macroeconomic factors: Belgium is a wealthy country with a high standard of living, which has allowed for increased spending on healthcare. Additionally, the government has implemented policies to promote vaccination, such as offering free immunizations for certain age groups. These factors have contributed to the growth of the Other Vaccines market in Belgium.In conclusion, the Other Vaccines market in Belgium is experiencing steady growth due to customer preferences for vaccines that provide protection against a range of diseases, increasing demand for adult immunization, a highly developed healthcare system that provides easy access to vaccination services, a high concentration of expatriates and travelers, and underlying macroeconomic factors such as high levels of wealth and government policies promoting vaccination.

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.