Key regions: Australia, Italy, France, South Korea, Brazil
The demand for vaccines in Western Africa is on the rise due to several factors.
Customer preferences: There is an increasing awareness among people in Western Africa about the importance of vaccines in preventing diseases. As a result, more people are opting for vaccination to protect themselves and their families from illnesses. Additionally, governments and non-governmental organizations are running awareness campaigns to educate people about the benefits of vaccines.
Trends in the market: The vaccines market in Western Africa is witnessing a shift towards more advanced and expensive vaccines. This is due to the increasing prevalence of diseases that require more sophisticated vaccines. For instance, there is a growing demand for vaccines for diseases such as HIV, Ebola, and malaria. Additionally, there is an increasing demand for vaccines that are effective against multiple strains of a disease.
Local special circumstances: The vaccines market in Western Africa is affected by several local factors. One of the major challenges is the lack of infrastructure and resources to store and transport vaccines. This makes it difficult to distribute vaccines to remote and rural areas. Additionally, there is a lack of trained healthcare professionals to administer vaccines. To address these challenges, governments and international organizations are investing in improving healthcare infrastructure and training healthcare professionals.
Underlying macroeconomic factors: The economic growth in Western Africa is contributing to the growth of the vaccines market. As incomes rise, people are willing to spend more on healthcare, including vaccines. Additionally, the increasing focus on healthcare by governments and international organizations is driving the growth of the vaccines market. The rising population in Western Africa is also contributing to the growth of the vaccines market as it increases the demand for 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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