Vaccines - Togo

Togo

The Vaccines market in Togo is expected to witness a substantial growth in revenue, with projections indicating that it will reach US$10.65m by 2024.
Furthermore, it is anticipated that the market will exhibit a steady annual growth rate of -7.58% from 2024 to 2029, culminating in a market volume of US$7.18m by the end of the forecast period.
In comparison to other countries worldwide, United States is expected to generate the highest revenue in the Vaccines market, with an estimated value of US$29,120.00m in 2024.
Togo has made significant progress in expanding access to vaccines, with a focus on reaching rural and remote areas.

Key regions: Australia, Italy, France, South Korea, Brazil

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Analyst Opinion

The demand for vaccines in Togo has been on the rise in recent years.

Customer preferences: Customers in Togo have become increasingly aware of the importance of vaccines in preventing diseases. This has led to a higher demand for vaccines, especially among parents who want to protect their children from illnesses. Additionally, the government has been actively promoting vaccination programs, which has further increased the demand for vaccines.

Trends in the market: The vaccines market in Togo has been growing steadily over the years. This growth can be attributed to the increasing demand for vaccines, as well as the entry of new players into the market. There has also been a shift towards more advanced and effective vaccines, which has led to an increase in the average price of vaccines.

Local special circumstances: One of the unique challenges in the Togolese vaccines market is the lack of infrastructure in some parts of the country. This makes it difficult to distribute vaccines to remote areas, which can result in lower vaccination rates. Additionally, there is a lack of awareness and education about the importance of vaccines in some parts of the population, which can also contribute to lower vaccination rates.

Underlying macroeconomic factors: Togo is one of the poorest countries in the world, with a low GDP per capita and a significant portion of the population living below the poverty line. Despite this, the government has made significant investments in the healthcare sector, which has helped to improve access to healthcare services, including vaccines. Additionally, the Togolese economy has been growing steadily in recent years, which has led to an increase in disposable income and a higher demand for healthcare services.

Methodology

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.