Key regions: Australia, Italy, France, South Korea, Brazil
The demand for vaccines in Western Asia has been on the rise in recent years due to various factors such as increasing awareness about preventive healthcare, rising population, and government initiatives to improve healthcare infrastructure.
Customer preferences: Customers in Western Asia are increasingly opting for vaccines to prevent the spread of diseases. The preference for vaccines is particularly high among parents who want to ensure the health and well-being of their children. Additionally, the elderly population is also opting for vaccines to protect themselves against diseases such as influenza and pneumonia.
Trends in the market: The vaccines market in Western Asia is witnessing a shift towards more advanced and innovative vaccines. There is a growing demand for vaccines that provide long-term protection against diseases and are more effective than traditional vaccines. Additionally, there is a trend towards the development of vaccines that can be administered orally or through the skin, rather than through injections.
Local special circumstances: The vaccines market in Western Asia is characterized by a large number of local players who cater to the specific needs and preferences of the local population. These players have a strong understanding of the local market and are able to develop vaccines that are tailored to the needs of the local population. Additionally, there is a growing trend towards the development of vaccines for diseases that are endemic to the region, such as dengue fever and malaria.
Underlying macroeconomic factors: The vaccines market in Western Asia is being driven by a number of macroeconomic factors such as increasing healthcare spending, rising population, and government initiatives to improve healthcare infrastructure. Governments in the region are investing heavily in healthcare infrastructure and are providing subsidies and incentives for the development and distribution of vaccines. Additionally, the rising population in the region is increasing the demand for vaccines, particularly for diseases such as measles and polio.
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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