Vaccines - G7

In 2024, the projected revenue in the Vaccines market is expected to reach US$36.54bn.
Furthermore, it is estimated that the revenue will demonstrate an annual growth rate (CAGR 2024-2028) of 6.52%, leading to a market volume of US$47.04bn by 2028.
Out of all the countries, United States is expected to generate the highest revenue in the Vaccines market, with US$25,690.00m in 2024.
Germany's robust pharmaceutical industry and strong healthcare infrastructure position it as a leader in vaccine research and development.

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

Market

Region

Region comparison

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Analyst Opinion

The demand for vaccines in G7 countries has been on the rise in recent years due to various factors such as the growing awareness of the importance of preventive healthcare, the increasing prevalence of infectious diseases, and the aging population.

Customer preferences: Customers in G7 countries prefer vaccines that are safe, effective, and affordable. They also tend to prioritize vaccines that protect against common infectious diseases such as influenza, hepatitis, and HPV. Additionally, there is a growing demand for vaccines that are tailored to specific age groups and medical conditions.

Trends in the market: In the United States, the vaccines market is driven by the increasing demand for adult vaccines and the growing prevalence of chronic diseases. The market for pediatric vaccines is also expected to grow due to the rising awareness of the importance of childhood immunization. In Canada, the vaccines market is expected to grow due to the increasing demand for flu vaccines and the high incidence of infectious diseases. In Japan, the market for vaccines is driven by the aging population and the increasing prevalence of chronic diseases. In Germany, the vaccines market is expected to grow due to the increasing demand for travel vaccines and the high incidence of infectious diseases. In France, the market for vaccines is driven by the increasing demand for vaccines that protect against HPV and meningococcal disease. In Italy, the vaccines market is expected to grow due to the increasing demand for flu vaccines and the high incidence of infectious diseases. In the United Kingdom, the market for vaccines is driven by the increasing demand for adult vaccines and the high incidence of infectious diseases.

Local special circumstances: In the United States, the vaccines market is highly regulated by the FDA, which ensures the safety and efficacy of vaccines. In Canada, the vaccines market is dominated by a few large pharmaceutical companies. In Japan, the vaccines market is highly regulated by the Ministry of Health, Labor, and Welfare. In Germany, the vaccines market is highly competitive, with many small and medium-sized companies competing with large pharmaceutical companies. In France, the vaccines market is dominated by a few large pharmaceutical companies. In Italy, the vaccines market is highly fragmented, with many small and medium-sized companies competing with large pharmaceutical companies. In the United Kingdom, the vaccines market is dominated by a few large pharmaceutical companies.

Underlying macroeconomic factors: The vaccines market in G7 countries is influenced by various macroeconomic factors such as healthcare expenditure, government policies, and economic growth. The rising healthcare expenditure in G7 countries is expected to drive the growth of the vaccines market. Government policies that promote immunization and public health are also expected to boost the demand for vaccines. The economic growth in G7 countries is expected to increase the affordability of vaccines and improve the accessibility of healthcare services.

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.