Key regions: Australia, Italy, France, South Korea, Brazil
The demand for vaccines in Saudi Arabia has been on the rise in recent years, driven by various factors such as government initiatives, growing awareness among the population, and the increasing prevalence of infectious diseases.
Customer preferences: Saudi Arabia has a relatively young population, with a large proportion of children and young adults. As a result, vaccines for diseases such as measles, mumps, and rubella are in high demand, along with vaccines for hepatitis, influenza, and meningitis. In addition, there is also a growing demand for travel vaccines as more Saudis travel abroad for business and leisure.
Trends in the market: The vaccines market in Saudi Arabia is witnessing a steady growth rate, which is expected to continue in the coming years. This growth is primarily driven by government initiatives to improve the country's healthcare infrastructure and increase access to vaccines for the population. The government has also launched several vaccination campaigns to combat the spread of infectious diseases such as measles and meningitis.
Local special circumstances: Saudi Arabia has a centralized healthcare system, with the Ministry of Health playing a dominant role in the provision of healthcare services. The government heavily subsidizes healthcare services, including vaccines, which makes them affordable and accessible to the majority of the population. In addition, the country has a high rate of expatriates, many of whom require vaccinations before entering the country.
Underlying macroeconomic factors: Saudi Arabia has a strong economy, driven by its oil reserves, which has enabled the government to invest heavily in healthcare infrastructure and services. The country's growing population, coupled with increasing awareness about the importance of vaccinations, has also contributed to the growth of the vaccines market. However, the COVID-19 pandemic has had an impact on the market, with a temporary slowdown in demand for non-COVID-19 vaccines. Nevertheless, the demand for COVID-19 vaccines is expected to drive growth in the market in the near future.
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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