Key regions: Australia, Italy, France, South Korea, Brazil
Panama, a country located in Central America, has been experiencing a significant growth in its healthcare sector in recent years. This has led to a surge in demand for vaccines, as people become more aware of the importance of preventive healthcare measures.
Customer preferences: Panamanian customers are increasingly seeking out vaccines that provide long-lasting protection against diseases. They prefer vaccines that are easy to administer and have minimal side effects. Additionally, customers tend to prefer vaccines that are affordable and readily available.
Trends in the market: The vaccines market in Panama is expected to experience significant growth in the coming years. This is due to the increasing awareness of the importance of vaccines in preventing diseases. The government has also been actively promoting vaccination programs, which has led to an increase in demand for vaccines. Additionally, the rise in medical tourism in Panama has led to an increase in demand for vaccines from tourists.
Local special circumstances: Panama has a unique geography that presents challenges in terms of vaccine distribution. The country is divided by the Panama Canal, which makes it difficult to transport vaccines from one side of the country to the other. Additionally, the country has a large indigenous population that resides in remote areas, which makes it challenging to provide them with access to vaccines.
Underlying macroeconomic factors: The growth of the vaccines market in Panama is linked to the overall growth of the healthcare sector in the country. The government has been investing heavily in healthcare infrastructure in recent years, which has led to an increase in the availability of healthcare services. Additionally, the country has been experiencing strong economic growth, which has led to an increase in disposable income and a greater ability to afford healthcare services. Finally, the rise of medical tourism in Panama has led to an increase in demand for vaccines from tourists.
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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