Market Insights Health Pharmaceuticals Vaccines

Other Vaccines - Nordics

Nordics

In the Nordic countries, the revenue in the Other Vaccines market is estimated to reach US$0.62bn by 2024.
It is projected to exhibit a compound annual growth rate (CAGR 2024-2029) of 10.03%, leading to a market volume of US$1.00bn by 2029.
When compared globally, United States is expected to generate the highest revenue of US$24,730.00m in 2024.
The Nordics have been at the forefront of developing and adopting innovative other vaccines to enhance public health.

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

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Analyst Opinion

The Other Vaccines market in Nordics has been experiencing significant growth in recent years. This market includes vaccines for diseases such as meningococcal, pneumococcal, and influenza, among others.

Customer preferences: In general, customers in Nordics prioritize preventive healthcare and are willing to invest in vaccines to protect themselves and their families. However, there is also a growing trend towards vaccine hesitancy, particularly in Denmark and Sweden, where some individuals are choosing not to vaccinate themselves or their children.

Trends in the market: One of the main drivers of growth in the Other Vaccines market in Nordics is the increasing number of elderly individuals in the region. As the population ages, there is a higher demand for vaccines to prevent diseases such as pneumonia and shingles. Additionally, there has been a growing awareness of the importance of vaccines in preventing the spread of infectious diseases, which has led to an increase in vaccination rates.

Local special circumstances: Each country in Nordics has its own unique healthcare system, which affects the availability and distribution of vaccines. For example, in Denmark, vaccines are provided free of charge to all citizens, while in Sweden, vaccines are primarily distributed through private healthcare providers. This can affect the accessibility of vaccines for certain individuals.

Underlying macroeconomic factors: The Nordics region has a strong economy and a high standard of living, which has led to a greater investment in healthcare. Additionally, the region has a well-established healthcare infrastructure and a highly educated population, which has contributed to the growth of the Other Vaccines market. However, there are also challenges such as the increasing cost of healthcare and the need to balance the demand for vaccines with other healthcare priorities.

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.