Key regions: Australia, Italy, France, South Korea, Brazil
The demand for vaccines in Sri Lanka has been increasing steadily in recent years due to various factors.
Customer preferences: Sri Lankan customers are increasingly becoming aware of the importance of vaccines in preventing diseases. This has led to an increase in demand for vaccines, especially among parents who want to protect their children from diseases. In addition, the government's efforts to promote vaccination programs have also contributed to the rise in demand for vaccines.
Trends in the market: The vaccines market in Sri Lanka is expected to grow due to the increasing demand for vaccines. The market is dominated by multinational companies that offer a wide range of vaccines. However, there is also a growing trend towards the use of locally produced vaccines. This is due to the fact that local manufacturers are able to produce vaccines at a lower cost, making them more affordable for consumers.
Local special circumstances: One of the challenges facing the vaccines market in Sri Lanka is the lack of awareness among some segments of the population. This is particularly true in rural areas where access to healthcare is limited. In addition, there is also a lack of infrastructure in some areas, making it difficult to distribute vaccines to remote locations.
Underlying macroeconomic factors: The Sri Lankan economy has been growing steadily in recent years, which has led to an increase in disposable income among consumers. This, in turn, has led to an increase in demand for healthcare services, including vaccines. In addition, the government's efforts to improve healthcare infrastructure and promote vaccination programs have also contributed to the growth of the vaccines market in Sri Lanka.In conclusion, the vaccines market in Sri Lanka is expected to continue to grow in the coming years due to increasing awareness among consumers and government initiatives to promote vaccination programs. However, there are also challenges that need to be addressed, such as improving access to healthcare in rural areas and increasing awareness among 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.
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