Vaccines - Denmark

Denmark

in Denmark, a country known for its rich history and cultural heritage, is also a significant player in the Vaccines market.
Looking ahead, the revenue in this market is projected to reach an impressive US$150,100.00k in 2024.
This growth is expected to continue with an annual growth rate (CAGR 2024-2028) of 6.18%, resulting in a market volume of US$190,800.00k by 2028.
In the global context, it is worth noting that United States is expected to generate the highest revenue in the Vaccines market, with a staggering US$25,690.00m in 2024.
This further emphasizes the significance of the Vaccines market on a global scale.
Denmark's strong healthcare infrastructure and prioritization of public health have led to high vaccination rates and a growing demand for innovative vaccines.

Key regions: South Korea, India, China, Australia, Italy

Market

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Analyst Opinion

The demand for vaccines in Denmark has been steadily increasing over the years.

Customer preferences: Denmark has a high vaccination rate, with the majority of the population being pro-vaccination. The Danish government provides free vaccinations to the public, which has contributed to the high vaccination rate.

Trends in the market: The vaccines market in Denmark has seen a shift towards more innovative and advanced vaccines. There has been an increase in demand for vaccines that provide long-term protection and have fewer side effects. This has led to the development of new vaccines that are more effective and have fewer side effects. Additionally, there has been a growing demand for vaccines that protect against multiple diseases, which has led to the development of combination vaccines.

Local special circumstances: Denmark has a well-established healthcare system, which has contributed to the high vaccination rate. The government provides free vaccinations to the public, which has made vaccines accessible to all. Additionally, there is a high level of awareness about the importance of vaccines among the population, which has led to a strong demand for vaccines.

Underlying macroeconomic factors: Denmark has a stable economy, which has contributed to the growth of the vaccines market. The government has invested in the healthcare sector, which has led to the development of new vaccines and the expansion of the vaccines market. Additionally, the high vaccination rate has led to a reduction in healthcare costs, as the incidence of vaccine-preventable diseases has decreased. This has contributed to the overall economic growth of the country.

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.