Vaccines - Portugal

Portugal

The Vaccines market in Portugal is expected to experience significant growth in the coming years.
By 2024, the projected revenue is estimated to reach US$164.90m.
This positive trend is expected to continue, with an annual growth rate (CAGR 2024-2028) of 1.28%.
By 2028, the market volume is projected to reach US$173.50m.
In a global comparison, it is worth noting that United States is expected to generate the highest revenue in the Vaccines market.
In 2024 alone, the revenue is projected to reach an impressive US$25,690.00m.
This highlights the significant market potential and importance of Vaccines market United States.
Portugal's commitment to public health is evident in its increasing demand for vaccines and its proactive approach to immunization campaigns.

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

Market

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Analyst Opinion

The demand for vaccines in Portugal has been steadily increasing in recent years due to various factors.

Customer preferences: Customers in Portugal are increasingly aware of the importance of vaccination and the role it plays in preventing diseases. The COVID-19 pandemic has further highlighted the importance of vaccines, leading to an increase in demand for not only COVID-19 vaccines but also for other vaccines such as influenza, pneumonia, and meningitis.

Trends in the market: The Portuguese government has been actively promoting vaccination through various initiatives, including free vaccination programs for certain age groups. This has led to an increase in vaccination rates, particularly among children and the elderly. Additionally, there has been a growing trend towards combination vaccines, which offer protection against multiple diseases in a single shot. This has led to a shift towards more efficient and convenient vaccination practices.

Local special circumstances: Portugal has a rapidly aging population, which has led to an increased demand for vaccines that protect against diseases common among the elderly, such as pneumonia and shingles. Additionally, the country has a high incidence of certain diseases such as tuberculosis, which has led to a higher demand for vaccines that protect against these diseases.

Underlying macroeconomic factors: The Portuguese healthcare system has undergone significant reforms in recent years, leading to increased access to healthcare services, including vaccines. Additionally, the country has a relatively high GDP per capita compared to other countries in the region, which has led to increased affordability of vaccines. However, the country still faces challenges such as a high public debt-to-GDP ratio, which could potentially impact healthcare spending in the future.

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.