Key regions: Japan, Italy, China, South Korea, Brazil
The COVID-19 pandemic has affected the global economy in many ways, including the pharmaceutical industry. Brazil, with a population of over 200 million, is one of the countries most affected by COVID-19. As such, the country has become a major market for COVID-19 vaccines.
Customer preferences: Brazil has a diverse population, and customer preferences for COVID-19 vaccines vary. However, there is a general preference for vaccines that have been approved by regulatory agencies and are widely available. Customers also prefer vaccines that have been shown to be effective against new variants of the virus.
Trends in the market: The COVID-19 vaccine market in Brazil has experienced significant growth in recent months. The government has made efforts to secure vaccine supplies and has launched a national vaccination campaign. As a result, the demand for vaccines has increased, and many pharmaceutical companies have entered the market. In addition, there has been a trend towards the use of mRNA vaccines, which have been shown to be highly effective against COVID-19.
Local special circumstances: Brazil has a large population, and the country has been hit hard by the COVID-19 pandemic. As such, there is a strong demand for vaccines, and the government has made efforts to secure supplies. However, there have also been challenges in distributing vaccines to remote areas of the country. In addition, there have been concerns about the safety and efficacy of some vaccines, which has led to some hesitancy among the population.
Underlying macroeconomic factors: The COVID-19 pandemic has had a significant impact on the Brazilian economy, with many businesses forced to close and unemployment rates rising. As such, the government has made efforts to secure vaccine supplies and launch a national vaccination campaign in order to control the spread of the virus and reopen the economy. In addition, Brazil has a strong pharmaceutical industry, which has helped to drive the development and distribution of vaccines in the country.
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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