Market Insights Health Pharmaceuticals Vaccines

COVID-19 Vaccines - Spain

Spain

In Spain, the revenue in the market COVID-19 Vaccines market is estimated to reach €1.07bn in 2024.
Looking ahead, it is expected to exhibit a compound annual growth rate (CAGR 2024-2029) of -18.28%, which would lead to a market volume of €0.39bn by 2029.
When compared globally, United States is projected to generate the highest revenue in this market, with an estimated value of €4,028,000.00k in 2024.
Spain is experiencing a high demand for COVID-19 vaccines due to the country's large population and high infection rates.

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

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Analyst Opinion

Spain has been one of the most affected European countries by the COVID-19 pandemic, with a significant number of cases and deaths. As a result, the demand for COVID-19 vaccines in Spain has been high, leading to a surge in the market for such vaccines.

Customer preferences: The Spanish population has shown a high level of interest in COVID-19 vaccines, with a significant percentage of the population willing to get vaccinated. The government's vaccination campaign has been successful in convincing the population to get vaccinated, and the demand for vaccines has been high.

Trends in the market: The COVID-19 vaccine market in Spain has been dominated by Pfizer-BioNTech, Moderna, and AstraZeneca. These companies have been able to meet the high demand for vaccines in the country, and the government has been successful in securing enough doses to vaccinate the population.

Local special circumstances: Spain has a well-developed healthcare system that has been able to handle the high demand for vaccines. The government has also been proactive in securing enough doses to vaccinate the population, and the vaccination campaign has been successful in reaching a significant percentage of the population.

Underlying macroeconomic factors: The COVID-19 pandemic has had a significant impact on the Spanish economy, with a sharp decline in economic activity and a high level of unemployment. The government has implemented various measures to support the economy, including financial assistance to businesses and individuals. The successful vaccination campaign has also contributed to the gradual reopening of the economy, which is expected to have a positive impact on the market for COVID-19 vaccines in the country.

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.