Market Insights Health Pharmaceuticals Vaccines

Other Vaccines - Montenegro

Montenegro

The Other Vaccines market in Montenegro is expected to witness significant growth in the coming years.
According to projections, the revenue in this market is projected to reach US$2.10m by 2024.
Furthermore, it is expected to show a steady annual growth rate of 10.50% from 2024 to 2029, resulting in a market volume of US$3.46m by 2029.
In terms of global comparison, it is noteworthy that United States is anticipated to generate the highest revenue in the Other Vaccines market.
In 2024, it is projected to generate a staggering amount of US$24,730.00m.
This highlights the dominant position of the United States in the global market.
As in Montenegro continues to develop its healthcare sector and prioritize immunization programs, the revenue and market volume of the Other Vaccines market are expected to experience significant growth in the coming years.
Montenegro is witnessing a growing demand for other vaccines, driven by increasing awareness and government initiatives for public health.

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

Market

Region

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Currency

Analyst Opinion

Montenegro, a small country located in the Balkans, has been experiencing a steady growth in the Other Vaccines market in recent years.

Customer preferences: The Montenegrin population has shown a growing interest in preventative healthcare measures, including vaccination. This is partly due to the country's efforts to improve its healthcare system and promote public health awareness. Additionally, the COVID-19 pandemic has led to an increased demand for vaccines in general, as people become more aware of the importance of immunization.

Trends in the market: The Other Vaccines market in Montenegro has been expanding, driven by a growing demand for vaccines against various diseases such as hepatitis, meningitis, and pneumococcal infections. There has also been an increasing interest in travel vaccines, as more Montenegrins travel abroad for work or leisure. This trend is expected to continue in the coming years, as the country's tourism industry continues to grow.

Local special circumstances: Montenegro's healthcare system is still in the process of modernization, with ongoing efforts to improve the availability and quality of healthcare services. This has led to an increasing demand for vaccines, as people become more aware of the importance of preventative healthcare measures. Additionally, the country's small size and relatively low population density make it easier to administer vaccines to the population.

Underlying macroeconomic factors: Montenegro's economy has been growing steadily in recent years, driven by a combination of tourism, foreign investment, and infrastructure development. This has led to an increasing demand for healthcare services, including vaccines. Additionally, the country's accession to NATO and ongoing negotiations for European Union membership have led to increased funding for healthcare and public health initiatives. These factors are expected to continue to drive growth in the Other Vaccines market in Montenegro in the coming years.

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.