Vaccines - Kenya

Kenya

In Kenya, the Vaccines market is anticipated to witness a substantial increase in revenue.
By the year 2024, it is projected to reach a significant amount of US$54.67m.
This growth is expected to continue with an annual growth rate (CAGR 2024-2028) of -5.27%.
As a result, the market volume is forecasted to reach US$44.03m by 2028.
When compared globally, it is worth noting that United States will generate the highest revenue in the Vaccines market.
In 2024 alone, United States is expected to generate a substantial amount of US$25,690.00m.
Kenya is experiencing an increase in demand for vaccines due to a growing awareness of the importance of immunization.

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

Market

Region

Region comparison

Currency

Analyst Opinion

The demand for vaccines in Kenya has been on the rise in recent years.

Customer preferences: Kenyan consumers are becoming more aware of the importance of vaccines in preventing diseases and are increasingly seeking out vaccination services. This is driven by a growing middle class, increased access to information through the internet and social media, and the government's efforts to promote immunization programs.

Trends in the market: The vaccines market in Kenya has been expanding, with both local and international players entering the market. The government has been investing in the sector, with the aim of increasing the number of children vaccinated against preventable diseases. Additionally, there has been a growing demand for vaccines for adults, particularly for diseases such as influenza and pneumonia.

Local special circumstances: Kenya has a high burden of vaccine-preventable diseases, such as measles, polio, and tuberculosis. The government has therefore prioritized the expansion of immunization programs to reduce the incidence of these diseases. Additionally, there is a growing demand for vaccines among the urban population, which is increasingly aware of the importance of preventive healthcare.

Underlying macroeconomic factors: Kenya's economy has been growing steadily, driven by the services sector, particularly finance, real estate, and construction. This has led to an increase in disposable income and a growing middle class, which is more likely to seek out healthcare services, including vaccination. Additionally, the government has been investing in the healthcare sector, with the aim of improving access to healthcare services for all Kenyans. This has included expanding immunization programs and increasing the number of healthcare facilities in 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.