Vaccines - Bosnia and Herzegovina

Bosnia and Herzegovina

The Vaccines market in Bosnia and Herzegovina is anticipated to achieve a revenue of US$9.07m by the year 2024.
It is estimated that the revenue will experience a compound annual growth rate (CAGR 2024-2028) of 4.51%, leading to a market volume of US$10.82m by 2028.
When compared globally, United States is projected to generate the highest revenue of US$25,690.00m in 2024.
Bosnia and Herzegovina's vaccine market is witnessing a surge in demand due to increased awareness and government initiatives.

Key regions: South Korea, India, China, Australia, Italy

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Analyst Opinion

The demand for vaccines in Bosnia and Herzegovina has been on the rise in recent years.

Customer preferences: Bosnia and Herzegovina has a relatively high vaccination rate compared to other countries in the region. The population is generally aware of the importance of vaccines and is willing to get vaccinated. The most common vaccines in the country are those for childhood diseases such as measles, mumps, and rubella, as well as vaccines for influenza and pneumococcal disease.

Trends in the market: The vaccines market in Bosnia and Herzegovina has been growing steadily in recent years. The increasing demand for vaccines is driven by several factors, including the growing awareness of the importance of vaccination, the expansion of the healthcare system, and the increasing availability of vaccines. In addition, the COVID-19 pandemic has further increased the demand for vaccines in the country.

Local special circumstances: Bosnia and Herzegovina has a decentralized healthcare system, with healthcare services provided by two entities – the Federation of Bosnia and Herzegovina and the Republika Srpska – and the Brčko District. This has led to differences in the availability and accessibility of vaccines across the country. In addition, the country has a large population of refugees and displaced persons, which presents additional challenges for the healthcare system.

Underlying macroeconomic factors: The healthcare system in Bosnia and Herzegovina is underfunded, which has led to shortages of medical supplies and equipment, including vaccines. In addition, the country has a relatively low GDP per capita, which limits the ability of the population to pay for healthcare services, including vaccines. However, the government has taken steps to improve the healthcare system, including increasing funding for healthcare and expanding the availability of vaccines.

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.