Key regions: South Korea, India, China, Australia, Italy
The demand for vaccines in Southern Asia has been increasing steadily over the years.
Customer preferences: Customers in Southern Asia are increasingly aware of the importance of vaccination and are willing to invest in preventive healthcare measures. The rise in awareness can be attributed to the growing education and literacy rates, as well as the efforts of healthcare organizations and governments to promote vaccination.
Trends in the market: The vaccines market in Southern Asia is witnessing a shift towards combination vaccines, which offer protection against multiple diseases in a single shot. This trend is driven by the convenience it offers to patients and the cost savings it provides. Additionally, there is an increasing demand for vaccines that cater to specific age groups, such as elderly or pediatric vaccines. This trend is driven by the growing population of elderly individuals and the need for preventive healthcare for children.
Local special circumstances: Southern Asia is a diverse region with varying healthcare needs and challenges. Countries like India and Pakistan have a large population that is susceptible to infectious diseases, which drives the demand for vaccines. On the other hand, countries like Sri Lanka and Maldives have a relatively low prevalence of infectious diseases, which leads to a lower demand for vaccines. Additionally, the healthcare infrastructure in Southern Asia is not uniform, with some countries having better healthcare facilities than others.
Underlying macroeconomic factors: The economic growth in Southern Asia has led to an increase in disposable income, which has led to a higher demand for healthcare services, including vaccines. Additionally, the growing population in the region has led to an increase in demand for vaccines. Governments in the region have also been taking steps to improve healthcare infrastructure and promote preventive healthcare, which has further boosted the demand for vaccines. However, the high cost of vaccines and the lack of access to healthcare facilities in some areas remain a challenge for the growth of the vaccines market in Southern Asia.
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.
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