Market Insights Health Pharmaceuticals Vaccines

Other Vaccines - South Africa

South Africa

The revenue in the Other Vaccines market in South Africa is forecasted to reach US$151.20m in 2024.
It is expected to exhibit an annual growth rate (CAGR 2024-2029) of 9.82%, leading to a market volume of US$241.50m by 2029.
When compared globally, United States is projected to generate the highest revenue of US$24,730.00m in 2024.
South Africa is experiencing a growing demand for other vaccines due to increased awareness and government initiatives.

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

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Analyst Opinion

The Other Vaccines market in South Africa has been showing some interesting trends in recent years.

Customer preferences: South Africa has a high prevalence of infectious diseases, making vaccines a crucial part of the healthcare system. The government has a comprehensive immunization program for children, which has been successful in reducing the incidence of diseases such as measles and polio. However, there is also a growing demand for vaccines among adults, particularly for travel-related vaccinations and those that protect against diseases such as HPV.

Trends in the market: One of the key trends in the Other Vaccines market in South Africa is the increasing demand for travel-related vaccinations. South Africa is a popular destination for tourists, and many countries require visitors to be vaccinated against diseases such as yellow fever and hepatitis A. As a result, there has been a growing demand for these vaccines in recent years.Another trend in the market is the increasing use of vaccines to prevent diseases such as HPV. South Africa has one of the highest rates of cervical cancer in the world, and there is a growing awareness of the importance of HPV vaccination in preventing this disease. As a result, there has been a significant increase in the use of HPV vaccines in recent years.

Local special circumstances: One of the challenges facing the Other Vaccines market in South Africa is the high cost of vaccines. Many vaccines are imported, and the weak South African rand has made them more expensive in recent years. This has made it difficult for some people to afford vaccines, particularly those that are not covered by the government's immunization program.Another challenge is the lack of awareness and education about the importance of vaccines. While the government has a comprehensive immunization program for children, there is still a significant proportion of the population that is not vaccinated. This is partly due to a lack of understanding about the benefits of vaccination, and partly due to a lack of access to healthcare services in some areas.

Underlying macroeconomic factors: The Other Vaccines market in South Africa is influenced by a number of macroeconomic factors. One of the most significant of these is the weak South African rand, which has made imported vaccines more expensive. In addition, the country's high unemployment rate and low economic growth have made it difficult for some people to afford healthcare services, including vaccines.Another macroeconomic factor is the growing burden of non-communicable diseases such as cancer and diabetes. As the population ages and lifestyles change, there is a growing demand for vaccines that protect against these diseases. This presents an opportunity for the Other Vaccines market in South Africa, as there is potential for growth in this area.

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.