Key regions: South Korea, India, China, Australia, Italy
The demand for vaccines in Central & Western Europe has been on the rise in recent years due to several factors.
Customer preferences: Customers in Central & Western Europe have become more health-conscious and are increasingly aware of the importance of vaccination in preventing diseases. This has led to an increase in demand for vaccines, particularly for diseases such as influenza, hepatitis, and human papillomavirus (HPV). Additionally, the aging population in the region has also contributed to the growing demand for vaccines.
Trends in the market: One of the major trends in the vaccines market in Central & Western Europe is the increasing adoption of combination vaccines. These vaccines offer protection against multiple diseases in a single shot, making them more convenient for patients and healthcare providers. Another trend is the growing popularity of travel vaccines, as more people in the region are traveling to countries with high risk of diseases such as yellow fever and typhoid.
Local special circumstances: Each country in Central & Western Europe has its own unique set of circumstances that affect the vaccines market. For example, in countries such as Germany and France, the government provides reimbursement for vaccines, which has led to higher vaccination rates. In Eastern European countries, on the other hand, the vaccines market is still developing and there is a need for more education and awareness campaigns to increase vaccination rates.
Underlying macroeconomic factors: The growing demand for vaccines in Central & Western Europe can be attributed to several underlying macroeconomic factors. For example, the region has a strong healthcare infrastructure and high levels of healthcare spending, which has led to better access to vaccines. Additionally, the region has a high level of education and awareness about the importance of vaccination, which has contributed to higher vaccination rates. The aging population in the region has also led to increased demand for vaccines, particularly for diseases such as shingles and pneumonia.
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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