Market Insights Health Pharmaceuticals Vaccines

Other Vaccines - India

India

The Other Vaccines market in India is projected to reach a revenue of US$0.47bn by 2024.
It is expected to show an annual growth rate (CAGR 2024-2028) of 9.67%, resulting in a market volume of US$0.68bn by 2028.
When compared globally, United States is forecasted to generate the highest revenue in the market, with US$23,850.00m in 2024.
India has seen a surge in demand for other vaccines, driven by the growing awareness of the importance of preventive healthcare among its population.

Key regions: United Kingdom, China, Europe, India, France

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Analyst Opinion

The demand for Other Vaccines in India has been on the rise in recent years.

Customer preferences: The increasing awareness of the importance of vaccination and the growing prevalence of diseases have contributed to the rise in demand for Other Vaccines in India. Customers are now more willing to spend on preventative measures to protect themselves and their families from illnesses.

Trends in the market: The Indian government's focus on expanding its immunization program has led to an increase in the demand for Other Vaccines. The government's efforts to make vaccines more accessible and affordable have also contributed to the growth of the market. Additionally, the rise in medical tourism in India has led to an increase in demand for vaccines from foreign patients seeking medical treatment in the country.

Local special circumstances: India's large population and high population density have contributed to the spread of infectious diseases, leading to a higher demand for Other Vaccines. Additionally, the country's tropical climate makes it a breeding ground for diseases such as dengue, chikungunya, and malaria, which has further increased the demand for vaccines.

Underlying macroeconomic factors: India's rapidly growing economy has led to an increase in disposable income and a rise in healthcare spending. This has enabled more people to afford preventative healthcare measures such as vaccines. Additionally, the growth of the pharmaceutical industry in India has led to an increase in the production of vaccines, making them more readily available and affordable for consumers.

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.