Key regions: Australia, Italy, France, South Korea, Brazil
The demand for vaccines in Southern Europe has been on the rise in recent years due to various factors.
Customer preferences: Customers in Southern Europe have become increasingly aware of the importance of preventive healthcare measures, including vaccinations. This has led to a growing demand for both mandatory and voluntary vaccines. Additionally, the aging population in the region has resulted in a higher need for vaccinations to prevent diseases that are more prevalent in older age groups.
Trends in the market: One of the major trends in the vaccines market in Southern Europe is the increasing adoption of new and innovative vaccines. Pharmaceutical companies are investing heavily in research and development to create vaccines that are more effective and have fewer side effects. Another trend is the growing demand for travel vaccines as more people in the region are traveling to exotic destinations where certain diseases are prevalent.
Local special circumstances: Southern Europe is a diverse region with varying healthcare systems and vaccination policies. For example, in Italy, vaccines are mandatory for children attending school, while in Spain, vaccination is not compulsory. This has resulted in differences in vaccination rates across the region. Additionally, the economic crisis in some countries has led to budget cuts in healthcare, which has affected the availability and affordability of vaccines.
Underlying macroeconomic factors: The increasing demand for vaccines in Southern Europe can be attributed to several macroeconomic factors. Firstly, the region has a high burden of infectious diseases, which has led to a focus on preventive healthcare measures. Secondly, the aging population in the region has resulted in a higher demand for vaccines to prevent diseases that are more prevalent in older age groups. Finally, the region has a high rate of international travel, which has led to a growing demand for travel vaccines.
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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