Market Insights Health Pharmaceuticals Vaccines

COVID-19 Vaccines - Bangladesh

Bangladesh

The COVID-19 Vaccines market in Bangladesh is forecasted to witness a significant rise in revenue, reaching US$0.58bn in 2024.
This projection indicates a positive growth trend, with an expected annual growth rate (CAGR 2024-2028) of -18.97%.
By 2028, the market volume is anticipated to reach US$0.25bn.
In comparison to other countries, United States is expected to generate the highest revenue in the global COVID-19 Vaccines market, amounting to US$1,832,000.00k in 2024.
Bangladesh is experiencing an increasing demand for COVID-19 vaccines due to rising infection rates and the government's vaccination campaign.

Key regions: Japan, Italy, China, South Korea, Brazil

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Analyst Opinion

Bangladesh, like many other countries, has been affected by the COVID-19 pandemic. The country has been actively working to vaccinate its population and mitigate the spread of the virus. In this context, the COVID-19 Vaccines market in Bangladesh has been developing in a certain way.

Customer preferences: As in many other countries, the preference of the customers in Bangladesh is to get vaccinated as soon as possible. The government has been working to make vaccines available to the population, and many people have been actively seeking vaccination opportunities. However, there is still some hesitancy among some segments of the population, and the government has been working to address this issue.

Trends in the market: The COVID-19 Vaccines market in Bangladesh has been developing at a steady pace. The government has been actively working to procure vaccines from different sources and make them available to the population. Initially, the country relied heavily on the COVAX facility to obtain vaccines, but it has since diversified its sources of vaccines. Bangladesh has also been working to produce vaccines locally, which could help to reduce its reliance on imports.

Local special circumstances: Bangladesh has a large population and a relatively low GDP per capita, which has made it challenging to procure vaccines and distribute them efficiently. The country has also been dealing with other challenges such as political instability and natural disasters, which have further complicated the vaccination efforts. However, the government has been working to overcome these challenges and make vaccines available to the population.

Underlying macroeconomic factors: The COVID-19 pandemic has had a significant impact on the global economy, and Bangladesh has not been immune to this. The country's GDP growth has slowed down, and many businesses have been affected by the pandemic. However, the government has been working to mitigate the economic impact of the pandemic and support businesses and individuals affected by it. The vaccination efforts could also help to boost the economy by reducing the spread of the virus and allowing businesses to reopen safely.In conclusion, the COVID-19 Vaccines market in Bangladesh has been developing at a steady pace. The government has been working to make vaccines available to the population, and many people have been actively seeking vaccination opportunities. Despite the challenges posed by the pandemic and other factors, Bangladesh has been making progress in its vaccination efforts, which could help to mitigate the impact of the pandemic on the country's economy and society.

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.