Key regions: South Korea, India, China, Australia, Italy
The demand for vaccines in the Benelux region has been steadily increasing over the years, driven by various factors such as increasing awareness about the importance of vaccination, rising healthcare expenditure, and the emergence of new diseases.
Customer preferences: Customers in the Benelux region are becoming more aware of the importance of vaccination and are increasingly opting for preventive measures to protect themselves from various diseases. This has led to an increase in demand for vaccines, especially for diseases such as influenza, measles, and HPV. Additionally, there is a growing trend towards personalized medicine, with patients seeking vaccines tailored to their specific needs.
Trends in the market: One of the key trends in the vaccines market in the Benelux region is the increasing adoption of new technologies and innovations in vaccine development. This has led to the emergence of new vaccines that are more effective and targeted towards specific diseases. There is also a growing trend towards the development of vaccines that can be administered orally or through the skin, which is expected to boost the demand for vaccines in the region.
Local special circumstances: The Benelux region comprises three countries - Belgium, Netherlands, and Luxembourg - each with its own unique healthcare system and regulatory environment. While the healthcare systems in these countries are relatively advanced, there are differences in the way vaccines are distributed and administered. For instance, in Belgium, vaccines are mostly distributed through pharmacies, while in the Netherlands, they are provided through the national vaccination program.
Underlying macroeconomic factors: The vaccines market in the Benelux region is also influenced by various macroeconomic factors such as increasing healthcare expenditure, rising population, and the emergence of new diseases. The region has a relatively high healthcare expenditure, which is expected to drive the demand for vaccines in the coming years. Additionally, the growing population in the region, coupled with the emergence of new diseases, is expected to boost the demand for vaccines in the long term.
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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