Market Insights Health Pharmaceuticals Vaccines

COVID-19 Vaccines - Cameroon

Cameroon

in Cameroon, a country in West Africa, is expected to contribute to the revenue growth in the COVID-19 Vaccines market.
By 2024, it is projected that the revenue in this market will reach US$8.71m.
Furthermore, the market is forecasted to have an annual growth rate (CAGR 2024-2028) of -20.90%, resulting in a market volume of US$3.41m by 2028.
When compared to other countries globally, United States is anticipated to generate the highest revenue in the COVID-19 Vaccines market.
In 2024 alone, United States is projected to generate a revenue of US$1,832,000.00k.
Cameroon is witnessing a surge in demand for COVID-19 vaccines, with the government implementing aggressive vaccination campaigns to combat the spread of the virus.

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

Market

Region

Region comparison

Currency

Analyst Opinion

The COVID-19 Vaccines market in Cameroon has been developing at a steady pace over the past few months.

Customer preferences: The demand for COVID-19 vaccines in Cameroon has been on the rise, with more and more people getting vaccinated. The government has been actively promoting the vaccination drive, which has led to an increase in the number of people getting vaccinated. The majority of the population in Cameroon prefers the Pfizer-BioNTech vaccine, followed by the Moderna vaccine. However, due to the limited availability of these vaccines, many people have also opted for the Sinopharm and AstraZeneca vaccines.

Trends in the market: The COVID-19 vaccines market in Cameroon has been witnessing a surge in demand, with the number of people getting vaccinated increasing rapidly. The government has been taking several steps to ensure that vaccines are easily available to the public. The government has also been conducting vaccination drives in rural areas to ensure that people in remote areas also have access to vaccines. The private sector has also been playing an active role in the vaccination drive, with many private hospitals and clinics offering vaccines to the public.

Local special circumstances: Cameroon has been facing several challenges in its vaccination drive. The country has a large population with a high level of poverty, which has made it difficult for the government to reach out to everyone. The country has also been facing a shortage of vaccines, which has led to delays in the vaccination drive. The government has been working with international organizations to procure more vaccines, but the process has been slow.

Underlying macroeconomic factors: Cameroon's economy has been severely impacted by the COVID-19 pandemic. The country's GDP contracted by 2.7% in 2020, and the unemployment rate has been on the rise. The government has been struggling to provide basic healthcare services to its citizens, and the vaccination drive has put further strain on the country's healthcare system. The government has been relying on international aid to procure vaccines, which has added to the country's debt burden. The vaccination drive is crucial for the country's economic recovery, but the government needs to address the challenges it is facing to ensure that the drive is successful.

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.