Market Insights Health Pharmaceuticals Vaccines

Other Vaccines - Australia

Australia

In Australia, the revenue in the Other Vaccines market is forecasted to reach €0.45bn by 2024.
It is anticipated that the revenue will witness a compound annual growth rate (CAGR 2024-2029) of 7.96%, leading to a market volume of €0.66bn by 2029.
When compared globally, United States is expected to generate the highest revenue in this market, with €22,940.00m projected for 2024.
Australia is experiencing a surge in demand for other vaccines due to increased awareness and government initiatives.

Key regions: Australia, Brazil, United Kingdom, Europe, Canada

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Analyst Opinion

The Other Vaccines market in Australia has been experiencing steady growth in recent years.

Customer preferences: There has been an increasing demand for vaccines in Australia due to the rising awareness of the importance of preventive healthcare. The Australian government has also been actively promoting vaccination programs to prevent the spread of infectious diseases. This has led to an increase in demand for other vaccines, which are vaccines that are not part of the routine childhood vaccination schedule.

Trends in the market: The Other Vaccines market in Australia has been growing steadily due to the increasing demand for travel vaccines, such as those for yellow fever and typhoid, as more Australians are travelling overseas. In addition, there has been a growing demand for vaccines that provide protection against sexually transmitted infections, such as HPV and hepatitis B, due to the increasing awareness of the importance of sexual health.

Local special circumstances: Australia has a unique geography and climate, which makes it vulnerable to certain infectious diseases. For example, the country has a high incidence of skin cancer due to its high levels of UV radiation. As a result, there has been a growing demand for vaccines that protect against skin cancer, such as the HPV vaccine.

Underlying macroeconomic factors: The Australian government has been actively promoting vaccination programs and investing in healthcare infrastructure, which has led to an increase in demand for vaccines. In addition, the country has a strong pharmaceutical industry and a well-developed healthcare system, which has made it an attractive market for vaccine manufacturers. The growing demand for vaccines in Australia has also been driven by the increasing prevalence of chronic diseases, such as diabetes and heart disease, which has led to a greater focus on preventive healthcare.

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.