Key regions: South Korea, India, China, Australia, Italy
The demand for vaccines has been on the rise in the United States in recent years, driven by various factors such as increased awareness about the importance of vaccination, government initiatives, and the outbreak of infectious diseases.
Customer preferences: Customers in the United States have become more health-conscious and are increasingly seeking preventive measures to avoid illnesses. This has led to a growing demand for vaccines, especially among children and the elderly. Furthermore, the COVID-19 pandemic has further highlighted the importance of vaccines and has increased the willingness of individuals to get vaccinated.
Trends in the market: The vaccines market in the United States has witnessed a significant increase in demand for flu vaccines, owing to the seasonal flu outbreak. Additionally, there has been a growing demand for vaccines that prevent infectious diseases such as measles, mumps, and rubella. The market has also witnessed a surge in demand for COVID-19 vaccines, with the government launching several initiatives to vaccinate the population.
Local special circumstances: The United States has a well-established healthcare system, which has facilitated the distribution and administration of vaccines. Additionally, the government has implemented several initiatives to increase the accessibility of vaccines, such as the Vaccines for Children (VFC) program, which provides free vaccines to eligible children.
Underlying macroeconomic factors: The United States has a high-income population, which has contributed to the growth of the vaccines market. Furthermore, the presence of leading pharmaceutical companies in the country has facilitated the development and manufacturing of vaccines. The government's support for research and development activities has also contributed to the growth of the market.
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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