Other Vaccines - Malaysia

Malaysia

Highlights

The Other Vaccines market in Malaysia is expected to generate a revenue of US$69.86m by 2024.
It is projected to exhibit a compound annual growth rate (CAGR 2024-2029) of 10.94%, leading to a market volume of US$117.40m by 2029.
In terms of global comparison, United States is anticipated to generate the highest revenue in the market, amounting to US$24.73bn in 2024.
In Malaysia, the demand for other vaccines is increasing due to a growing awareness of the importance of immunization.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Other Vaccines market in Malaysia has been experiencing significant growth in recent years.

Customer preferences: One of the primary reasons for this growth is the increasing awareness and concern about the importance of vaccination among the Malaysian population. As more people become aware of the potential risks associated with not being vaccinated, there has been a corresponding increase in demand for Other Vaccines. Additionally, the Malaysian government has been actively promoting vaccination programs to reduce the incidence of preventable diseases, which has further contributed to the growth of the market.

Trends in the market: Another trend in the Other Vaccines market in Malaysia is the increasing availability of new and innovative vaccines. This has been driven by advances in medical research and technology, which have made it possible to develop vaccines that are more effective and have fewer side effects than older vaccines. As a result, many consumers are opting for newer vaccines over traditional ones, which has led to increased competition among vaccine manufacturers.

Local special circumstances: One of the unique factors that has contributed to the growth of the Other Vaccines market in Malaysia is the country's large and diverse population. Malaysia is home to people from many different ethnic and cultural backgrounds, each with their own unique health needs and concerns. This has created a demand for a wide range of vaccines that can address the specific health needs of different groups within the population.

Underlying macroeconomic factors: Finally, the growth of the Other Vaccines market in Malaysia can be attributed to the country's strong and stable economy. As the Malaysian economy continues to grow and develop, more people are able to afford healthcare and other essential services, including vaccinations. This has created a larger market for vaccine manufacturers, who are able to sell their products to a wider range of consumers than ever before. Additionally, the government's commitment to promoting healthcare and disease prevention has helped to create a favorable environment for the growth of the Other Vaccines market in Malaysia.

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.