Other Vaccines - Lithuania

Lithuania

Highlights

The projected revenue in the Other Vaccines market in Lithuania is expected to reach US$17.15m in 2024.
It is anticipated that the revenue will show an annual growth rate (CAGR 2024-2029) of 10.55%, resulting in a market volume of US$28.33m by 2029.
In global comparison, United States is expected to generate the highest revenue in the market, reaching US$24.73bn in 2024.
Lithuania is experiencing a growing demand for other vaccines, driven by an increasing awareness of the importance of preventative healthcare among its population.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Other Vaccines market in Lithuania has been steadily developing over the years, with a growing demand for vaccines beyond the standard childhood vaccinations.

Customer preferences: Customers in Lithuania have shown a preference for vaccines that protect against diseases such as HPV, meningitis, and shingles. This is in line with global trends of an aging population and a greater awareness of the importance of preventive healthcare. Additionally, the COVID-19 pandemic has brought about an increased interest in vaccines and their efficacy, leading to a surge in demand for all types of vaccines.

Trends in the market: Lithuania's Other Vaccines market has seen a rise in demand for vaccines that protect against travel-related diseases, such as yellow fever and typhoid. This is due to an increase in international travel and a growing awareness of the importance of vaccination before traveling to high-risk areas. Another trend in the market is the growing popularity of combination vaccines, which protect against multiple diseases in a single shot. This is due to convenience and cost-effectiveness for both patients and healthcare providers.

Local special circumstances: Lithuania has a high vaccination coverage rate for standard childhood vaccines, which has led to a growing demand for vaccines beyond childhood. Additionally, the country has a well-developed healthcare system that provides easy access to vaccines for all citizens. However, there is still a need for greater education and awareness around the importance of vaccines, as well as addressing vaccine hesitancy and misinformation.

Underlying macroeconomic factors: Lithuania's growing economy and increasing healthcare spending have contributed to the development of the Other Vaccines market. Additionally, the country's membership in the European Union has allowed for greater access to a wider range of vaccines and increased competition in the market. However, the COVID-19 pandemic has had a significant impact on the market, with disruptions in supply chains and a shift in focus towards COVID-19 vaccines.

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.