Market Insights Health Pharmaceuticals Vaccines

COVID-19 Vaccines - Kenya

Kenya

The COVID-19 Vaccines market in Kenya is anticipated to witness a significant surge in revenue, with projections indicating a staggering figure of US$32.82m in 2024.
This growth is expected to continue at a promising pace, with an estimated compound annual growth rate (CAGR 2024-2028) of -20.91%.
By the year 2028, the market volume is projected to reach an impressive US$12.84m.
When compared to other countries on a global scale, it is noteworthy that United States is predicted to generate the highest revenue in the COVID-19 Vaccines market, amounting to an astounding US$1,832,000.00k in 2024.
Kenya is experiencing a significant increase in the demand for COVID-19 vaccines as the government intensifies its vaccination efforts.

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

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Analyst Opinion

Kenya has been one of the countries in Africa that has been hit hard by the COVID-19 pandemic. As a result, the government has been working tirelessly to ensure that its citizens are protected from the virus. The COVID-19 Vaccines market in Kenya has been developing in a certain way due to various factors.

Customer preferences: Kenya is a developing country with a population of over 50 million people. The majority of the population lives in rural areas, and access to healthcare services is limited. Most people in Kenya prefer to use traditional medicine for treating illnesses. However, due to the severity of the COVID-19 pandemic, there has been an increase in demand for vaccines. The government has been working to educate the public about the importance of getting vaccinated.

Trends in the market: The COVID-19 Vaccines market in Kenya has been developing in a certain way due to various factors. The government has been working to secure vaccines from different manufacturers. The first batch of vaccines arrived in Kenya in March 2021, and the government has been rolling out the vaccination program since then. The demand for vaccines has been high, and the government has been working to ensure that all eligible citizens are vaccinated.

Local special circumstances: Kenya is a country that has been heavily impacted by the COVID-19 pandemic. The government has been working to ensure that its citizens are protected from the virus. The vaccination program has been a key part of the government's strategy to combat the pandemic. However, there have been challenges in the rollout of the vaccination program. The government has been working to address these challenges and ensure that the vaccine is accessible to all.

Underlying macroeconomic factors: Kenya is a developing country with a growing economy. The COVID-19 pandemic has had a significant impact on the economy, with many businesses closing down and people losing their jobs. The government has been working to support the economy and ensure that businesses can continue to operate. The vaccination program is an important part of the government's strategy to support the economy. By vaccinating the population, the government hopes to reduce the spread of the virus and enable businesses to reopen.

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.