Market Insights Health Pharmaceuticals Vaccines

Other Vaccines - Bulgaria

Bulgaria

The Other Vaccines market in Bulgaria is expected to witness a significant growth in revenue, with projections indicating that it will reach US$24.34m in 2024.
This growth is further anticipated to continue at a steady pace, with an annual growth rate (CAGR 2024-2029) of 10.32%.
As a result, the market volume is expected to expand to US$39.78m by 2029.
When compared globally, it is noteworthy that United States will generate the highest revenue in the Other Vaccines market.
In 2024, United States is projected to generate a substantial revenue of US$24,730.00m.
Bulgaria's market for other vaccines is witnessing an increasing demand due to the government's focus on improving public health and expanding vaccination programs.

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

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Analyst Opinion

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

Customer preferences: Bulgarian customers have been showing an increasing interest in vaccines that protect against diseases other than the common ones. This is partly due to the growing awareness of the importance of preventive healthcare and the benefits of vaccination. Additionally, the COVID-19 pandemic has highlighted the need for vaccines that can protect against emerging diseases.

Trends in the market: The Other Vaccines market in Bulgaria has been growing steadily due to the increasing demand for vaccines that protect against diseases other than the common ones. In particular, vaccines that protect against meningitis, HPV, and shingles have been in high demand. The market has also seen the introduction of new vaccines that protect against emerging diseases such as Ebola and Zika. However, the market is still dominated by the traditional vaccines such as the flu vaccine.

Local special circumstances: Bulgaria has a well-established vaccination program that provides free vaccination to children and adults against a range of diseases. However, the coverage of the vaccination program is not comprehensive, and there are gaps in the vaccination coverage of certain age groups. Additionally, there is a lack of public awareness about the importance of vaccination, which has contributed to the low vaccination coverage in some areas.

Underlying macroeconomic factors: Bulgaria has a relatively low GDP per capita compared to other countries in the European Union. This has resulted in a lower healthcare expenditure per capita, which has affected the availability and affordability of vaccines in the country. Additionally, the country has a high burden of infectious diseases, which has put pressure on the healthcare system to provide vaccines that protect against these diseases.

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.