Market Insights Health Pharmaceuticals Vaccines

Other Vaccines - Eastern Asia

Eastern Asia

The Other Vaccines market in Eastern Asia is expected to witness significant growth in the coming years.
According to projections, the revenue in this market is set to reach US$8.48bn by 2024.
Furthermore, it is anticipated that the market will experience a steady annual growth rate of 10.77% from 2024 to 2029, resulting in a market volume of US$14.14bn by the end of the forecast period.
When comparing the global market, it is worth noting that United States is expected to generate the highest revenue in the Other Vaccines market.
In 2024, the revenue United States is estimated to be US$24,730.00m.
This demonstrates the dominant position of the United States in terms of market size and potential.
In Eastern Asia, there is a growing demand for other vaccines due to the increasing awareness of the importance of preventive healthcare.

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

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Currency

Analyst Opinion

The Other Vaccines market in Eastern Asia has been experiencing significant growth in recent years, driven by a variety of factors.

Customer preferences: Customers in Eastern Asia have shown a growing interest in preventative healthcare, particularly in the wake of recent disease outbreaks. This has led to an increased demand for vaccines, including those for diseases beyond the standard childhood immunizations. Additionally, as the population in Eastern Asia continues to age, there has been a rise in demand for vaccines that protect against diseases that are more common in older adults.

Trends in the market: China is the largest market for other vaccines in Eastern Asia, with a rapidly growing middle class and an increasing focus on preventative healthcare. In recent years, there has been a growing demand for vaccines that protect against diseases such as HPV, meningococcal disease, and pneumococcal disease. Additionally, there has been a rise in demand for travel vaccines, particularly among Chinese tourists. Japan is another important market for other vaccines in the region, with a strong focus on preventative healthcare and a high level of government support for vaccination programs. In recent years, there has been a growing demand for vaccines that protect against shingles, as well as travel vaccines for diseases such as yellow fever and Japanese encephalitis.

Local special circumstances: One important factor driving the growth of the other vaccines market in Eastern Asia is the high level of government support for vaccination programs. Many governments in the region have implemented policies aimed at increasing vaccination rates, including subsidies for vaccines and education campaigns aimed at raising awareness about the importance of vaccination. Additionally, there has been a growing trend towards private vaccination clinics in the region, which has helped to increase access to vaccines for those who may not have easy access to public healthcare services.

Underlying macroeconomic factors: The economic growth in Eastern Asia has been a key driver of the growth of the other vaccines market in the region. As the middle class in countries such as China and Japan continues to expand, there has been a growing focus on preventative healthcare and an increased willingness to spend money on vaccines. Additionally, the rise of medical tourism in the region has helped to drive demand for travel vaccines, particularly in countries such as Thailand and Singapore. Overall, the other vaccines market in Eastern Asia is expected to continue to grow in the coming years, driven by a combination of demographic and economic factors, as well as increasing government support for vaccination programs.

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.