Key regions: Japan, Italy, China, South Korea, Brazil
The COVID-19 pandemic has had a significant impact on the healthcare industry worldwide, with the development and distribution of vaccines being a top priority. Finland, like many other countries, has been actively involved in the COVID-19 vaccine market.
Customer preferences: As in other countries, the Finnish government has prioritized the distribution of COVID-19 vaccines to healthcare workers and the elderly population. Additionally, there has been an emphasis on ensuring that vaccines are distributed equitably across the country, with a focus on reaching remote and rural areas. Finnish citizens have generally been receptive to the vaccine, with a high percentage of the population expressing a willingness to get vaccinated.
Trends in the market: One trend in the Finnish COVID-19 vaccine market has been the increasing availability of vaccines. Initially, there were only a few vaccine options available, but as more vaccines have been approved for use, the market has become more diverse. This has led to increased competition among vaccine manufacturers, which has had a positive impact on pricing and availability. Another trend has been the emergence of new variants of the virus, which has led to increased demand for booster shots and updated vaccines.
Local special circumstances: Finland has a relatively small population compared to other European countries, which has made it easier to distribute vaccines to the population. Additionally, Finland has a highly developed healthcare system, which has facilitated the distribution of vaccines and ensured that they are administered safely and efficiently.
Underlying macroeconomic factors: Finland is a wealthy country with a high standard of living, which has enabled the government to invest in the development and distribution of vaccines. Additionally, Finland is part of the European Union, which has played a key role in securing vaccine supplies and coordinating distribution efforts across member states. The Finnish economy has also been relatively resilient during the pandemic, which has enabled the government to allocate resources to the healthcare sector.
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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