Other Vaccines - Singapore

Singapore

Highlights

The projected revenue for the Other Vaccines market in Singapore is expected to reach US$80.58m in 2024.
It is anticipated that the revenue will show an annual growth rate (CAGR 2024-2029) of 11.43%, leading to a market volume of US$138.40m by 2029.
When compared globally, United States is expected to generate the highest revenue of US$24.73bn in 2024.
Singapore's strong healthcare infrastructure and focus on preventive care make it a prime market for innovative and specialized other vaccines.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Other Vaccines market in Singapore has been experiencing significant growth in recent years, with a steady increase in demand for a variety of vaccines beyond the common childhood immunizations.

Customer preferences: Singaporean consumers are increasingly aware of the importance of preventive healthcare, and are willing to invest in vaccines to protect themselves and their families from a range of infectious diseases. In addition, the country's aging population has contributed to a growing demand for vaccines that can help prevent illnesses such as shingles and pneumonia.

Trends in the market: One of the key trends in the Other Vaccines market in Singapore is the growing popularity of travel vaccines. As more Singaporeans travel abroad for business and leisure, there has been a corresponding increase in demand for vaccines that can protect against diseases such as yellow fever, typhoid, and hepatitis A and B. In addition, there has been a rise in demand for vaccines that can help prevent certain types of cancer, such as the human papillomavirus (HPV) vaccine.

Local special circumstances: Singapore's status as a global financial and business hub has contributed to the growth of the Other Vaccines market, as many international travelers pass through the country on their way to other destinations. In addition, the government has implemented a number of initiatives to promote preventive healthcare, including the introduction of the National Adult Immunisation Schedule in 2017, which recommends vaccines for adults based on their age, health status, and occupation.

Underlying macroeconomic factors: The Other Vaccines market in Singapore is also influenced by broader macroeconomic factors, such as the country's strong healthcare infrastructure, high levels of education and awareness among the population, and favorable government policies. In addition, Singapore's position as a regional leader in healthcare innovation has helped to attract investment and foster partnerships between local and international pharmaceutical companies.

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.