Key regions: Australia, Brazil, United Kingdom, Europe, Canada
The Other Vaccines market in Panama has seen significant growth in recent years, driven by a combination of customer preferences, local special circumstances, and underlying macroeconomic factors.
Customer preferences: Panama has a relatively high vaccination rate compared to other countries in the region, with a strong emphasis on preventative healthcare. Many Panamanians are willing to pay for vaccines out of pocket, particularly for travel-related vaccinations such as yellow fever and typhoid. Additionally, the government provides free vaccinations for certain diseases such as measles and rubella to children under the age of five.
Trends in the market: The Other Vaccines market in Panama has seen a shift towards more specialized vaccines, particularly for travel-related diseases. This is due in part to an increase in international travel, as well as a growing awareness of the risks associated with certain diseases in different regions of the world. Additionally, there has been a growing demand for vaccines that offer more comprehensive protection against multiple diseases, such as combination vaccines.
Local special circumstances: Panama's location as a hub for international travel and commerce has made it particularly vulnerable to the spread of infectious diseases. As a result, the government has implemented strict vaccination requirements for travelers entering the country, particularly for diseases such as yellow fever and meningitis. This has created a strong demand for travel-related vaccinations among both locals and visitors to the country.
Underlying macroeconomic factors: Panama's strong economic growth and expanding middle class have contributed to the growth of the Other Vaccines market in the country. As more Panamanians have disposable income, they are increasingly willing to invest in preventative healthcare measures such as vaccines. Additionally, the government has made significant investments in healthcare infrastructure in recent years, which has helped to increase access to vaccines and other healthcare services throughout the country.
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.
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