Vaccines - Senegal | Statista Market Forecast

The Vaccines market in Senegal is expected to witness significant growth in the coming years.
By 2024, the projected revenue is estimated to reach US$22.56m.
This indicates a positive trend in the market.
Furthermore, the market is expected to experience an annual growth rate of -8.63% between 2024 and 2029.
As a result, the market volume is projected to reach US$14.37m by 2029.
In a global perspective, United States is anticipated to generate the highest revenue in the Vaccines market.
In 2024, the revenue United States is estimated to be around US$29.12bn.
This highlights the dominance of the United States in the global Vaccines market.
Senegal is implementing innovative strategies to increase vaccine access and uptake, prioritizing rural areas and underserved communities.

Definition:
This market covers vaccines against infectious diseases. They help to prevent diseases, usually through active immunization. Vaccines against infectious diseases transmitted by viruses (e.g., hepatitis A and B or COVID-19) and bacteria (e.g., typhoid fever or meningococcus) are included.

Additional information:
Market values represent the revenues generated by manufacture prices paid to primary vendors, either directly or through distribution channels (excluding VAT). Reported market revenues include spending by consumers (B2C), companies (B2B), and governments (B2G).

Company examples: Pfizer, GlaxoSmithKline, Merck & Co, Sanofi, Moderna, AstraZeneca

Vaccines against infectious diseases
Prophylactic and therapeutic vaccines
Flu vaccines
COVID-19 vaccines

Sera and gammaglobulins
Antivirals
Antibiotics

The demand for vaccines in Senegal has been on the rise in recent years, driven by various factors such as increasing awareness about the importance of immunization and the government's efforts to improve healthcare access for its citizens.

Customer preferences: Senegal has a population of over 16 million people, with a significant portion residing in rural areas. The country has a high infant mortality rate, which has led to a growing awareness among parents about the importance of vaccinating their children. Additionally, the government has implemented various programs to increase vaccination coverage, which has contributed to the growth of the vaccines market.

Trends in the market: The vaccines market in Senegal has been experiencing steady growth in recent years, with an increasing number of people seeking immunization services. This growth can be attributed to the government's efforts to improve healthcare access, as well as the rising awareness among the population about the importance of vaccines. There has also been an increase in the number of private healthcare providers offering vaccination services, which has contributed to the growth of the market.

Local special circumstances: Senegal is a developing country with a high burden of infectious diseases such as malaria, tuberculosis, and HIV/AIDS. The government has prioritized the prevention and control of these diseases, which has led to increased investment in the healthcare sector, including the vaccines market. Additionally, the country has a young population, with a high birth rate, which has created a significant demand for vaccines.

Underlying macroeconomic factors: Senegal's economy has been growing steadily in recent years, with a focus on diversifying its industries and improving infrastructure. The government has also implemented policies to improve healthcare access, which has contributed to the growth of the vaccines market. However, the country still faces challenges such as poverty and a lack of resources, which can impact the affordability and accessibility of vaccines for some segments of the population.

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.

This report presents a comprehensive analysis and additional information on the Health market, in a PDF format.

As of March 2023, more than 13 billion COVID-19 vaccine doses had been administered worldwide. Wide-spread vaccine availability, increasing herd immunity, and lower case numbers led to renewed hope and a feeling of normality in 2023. However, especially during the winter seasons and with the potential emergence of new variants of the virus (like Omicron in 2021-2022), tracking of coronavirus cases repeatedly becomes a focus for the public. Thus, there is a level of uncertainty about what developments the winter season 2023/2024 might bring.