Other Vaccines - Vietnam

Vietnam

Highlights

Vietnam is projected to see a significant increase in revenue within the Other Vaccines market.
By 2024, it is estimated that the revenue will reach US$96.46m.
This growth is expected to continue with an annual growth rate (CAGR 2024-2029) of 11.35%.
As a result, the market volume is projected to reach US$165.10m by 2029.
In comparison to other countries, United States is anticipated to generate the highest revenue within the global market, with a projected revenue of US$24.73bn in 2024.
Vietnam's increasing focus on public health and government initiatives have led to a rising demand for other vaccines in the country.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Other Vaccines market in Vietnam is experiencing significant growth in recent years.

Customer preferences: Vietnam's population has become more aware of the importance of vaccines in preventing diseases. The government has implemented a national immunization program, which has increased the demand for vaccines in the country. Additionally, the rising middle-class population has increased the demand for better healthcare services, including vaccination.

Trends in the market: The Other Vaccines market in Vietnam is expected to grow due to the increase in the incidence of infectious diseases, such as dengue fever and Japanese encephalitis. The demand for vaccines to prevent these diseases has increased, leading to the growth of the Other Vaccines market. Furthermore, the COVID-19 pandemic has created a sense of urgency in the population to get vaccinated, which has further boosted the demand for vaccines in Vietnam.

Local special circumstances: Vietnam has a large population and is densely populated, leading to the rapid spread of infectious diseases. The country is also vulnerable to outbreaks of emerging infectious diseases due to its proximity to other countries in the region. The government has recognized the importance of vaccination in preventing the spread of infectious diseases and has implemented a national immunization program to increase the vaccination coverage in the population.

Underlying macroeconomic factors: Vietnam's economy has been growing steadily in recent years, leading to an increase in the disposable income of the population. This has led to an increase in the demand for better healthcare services, including vaccination. Additionally, the government has been investing in the healthcare sector, which has led to an improvement in the healthcare infrastructure in the country. The growth of the Other Vaccines market in Vietnam is expected to continue in the coming years due to these underlying macroeconomic factors.

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.