Vaccines - United Kingdom

United Kingdom

The Vaccines market in the United Kingdom is estimated to achieve a revenue of US$1,683.00m by the year 2024.
It is expected to exhibit a Compound Annual Growth Rate (CAGR 2024-2028) of 6.96%, leading to a market volume of US$2,203.00m by 2028.
In terms of global comparison, United States is projected to generate the highest revenue of US$25,690.00m in 2024.
The United Kingdom is experiencing a surge in demand for vaccines due to the rapid spread of new variants.

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

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Analyst Opinion

The demand for vaccines in the United Kingdom has been increasing steadily over the years due to various factors.

Customer preferences: The customers in the United Kingdom are becoming more aware of the importance of vaccines in preventing diseases. The government has also been promoting vaccination programs to increase the immunization rate in the country. Customers are also showing a preference for new and innovative vaccines, which are more effective and have fewer side effects.

Trends in the market: The vaccines market in the United Kingdom is witnessing an increase in demand due to the COVID-19 pandemic. The government has launched a vaccination program to vaccinate the entire population, which has led to an increase in demand for vaccines. The market is also witnessing an increase in demand for flu vaccines due to the increased awareness of the importance of flu vaccination.

Local special circumstances: The United Kingdom has a well-established healthcare system, which has facilitated the distribution of vaccines across the country. The government has also been proactive in promoting vaccination programs, which has led to an increase in the immunization rate. The country has also been investing in research and development of vaccines, which has led to the development of new and innovative vaccines.

Underlying macroeconomic factors: The United Kingdom has a stable economy, which has facilitated the growth of the vaccines market. The government has been investing in the healthcare sector, which has led to the development of the vaccines market. The country has also been investing in research and development, which has led to the development of new and innovative vaccines. The COVID-19 pandemic has also led to an increase in demand for vaccines, which has further fueled the growth of the market.

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.