Market Insights Health Pharmaceuticals Vaccines

Other Vaccines - Japan

Japan

The Other Vaccines market in Japan is expected to experience significant growth in the coming years.
By 2024, revenue in this market is projected to reach US$2.14bn.
This indicates a promising outlook for the industry.
Furthermore, it is anticipated that the market will continue to expand at a compound annual growth rate (CAGR) of 10.28% between 2024 and 2029.
This growth trajectory is expected to result in a market volume of US$3.49bn by 2029.
When comparing the global market, United States is expected to generate the highest revenue in the Other Vaccines market.
In 2024, United States is projected to generate US$24,730.00m in revenue.
This demonstrates the dominance of the United States in this market.
Japan's rigorous regulatory framework and high demand for safety have led to a slow adoption of other vaccines in the country.

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

Market

Region

Region comparison

Currency

Analyst Opinion

The Other Vaccines market in Japan has been developing steadily over the past few years.

Customer preferences: Japanese customers prefer vaccines that are safe, effective, and have minimal side effects. They are also willing to pay a premium for vaccines that offer greater protection against diseases.

Trends in the market: The Other Vaccines market in Japan has been growing steadily due to the increasing prevalence of infectious diseases and the rising awareness of the importance of vaccination. The market has also been driven by the growing demand for travel vaccines, as more Japanese citizens travel abroad for business and leisure. In addition, the market has seen a shift towards combination vaccines, which offer protection against multiple diseases in a single shot, as well as the development of new vaccines for emerging diseases.

Local special circumstances: Japan has a well-developed healthcare system and a high level of public health awareness, which has contributed to the growth of the Other Vaccines market. The government has also implemented a national immunization program, which provides free vaccines to children and certain high-risk groups. However, the market is highly regulated, and vaccines must undergo rigorous testing and approval processes before they can be sold in Japan.

Underlying macroeconomic factors: The Japanese economy has been recovering slowly in recent years, which has led to increased healthcare spending. In addition, Japan has an aging population, which is more susceptible to infectious diseases and requires more healthcare services. These factors have contributed to the growth of the Other Vaccines market in Japan.

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.