Market Insights Health Pharmaceuticals Vaccines

COVID-19 Vaccines - Germany

Germany

Germany is projected to see a significant revenue increase in the COVID-19 Vaccines market.
By 2024, it is estimated that the revenue will reach €852.60m.
This growth is expected to continue with an annual growth rate (CAGR 2024-2029) of -17.66%.
As a result, the market volume is projected to reach €322.70m by 2029.
In comparison to other countries worldwide, United States is expected to generate the highest revenue in the COVID-19 Vaccines market.
It is projected to reach €4,070,000.00k in 2024.
Germany is leading the way in COVID-19 vaccine research and development, with several local pharmaceutical companies making significant progress.

Key regions: United Kingdom, Germany, France, South Korea, Italy

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Analyst Opinion

The COVID-19 Vaccines market in Germany has been rapidly developing since the beginning of the pandemic.

Customer preferences: As in many other countries, the German population has shown a high demand for COVID-19 vaccines. The government has been actively promoting vaccination and offering it free of charge to all citizens. This has led to a high vaccination rate and a strong demand for vaccines from both the government and private sector.

Trends in the market: The COVID-19 vaccines market in Germany has been characterized by a high level of competition between vaccine manufacturers. Pfizer-BioNTech, Moderna, AstraZeneca, and Johnson & Johnson are among the most popular vaccines available in the country. The market has also seen a high level of innovation, with new vaccines being developed and approved for use. In addition, the German government has been investing heavily in the production and distribution of vaccines, which has led to an increase in the availability of vaccines across the country.

Local special circumstances: One of the unique aspects of the German COVID-19 vaccines market is the strong role played by the government in the distribution and administration of vaccines. The government has been working closely with manufacturers to ensure that vaccines are distributed fairly and efficiently across the country. In addition, the government has been actively promoting vaccination through public awareness campaigns and other initiatives.

Underlying macroeconomic factors: The German economy has been heavily impacted by the COVID-19 pandemic, with many businesses forced to close or reduce operations. The government has implemented a range of measures to support businesses and individuals, including financial aid and tax relief. The success of the vaccination campaign is seen as a key factor in the country's economic recovery, as it will allow businesses to reopen and resume operations. As a result, there is a strong incentive for the government and private sector to invest in the production and distribution of vaccines.

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.