Market Insights Health Pharmaceuticals Vaccines

Other Vaccines - China

China

The Other Vaccines market in China is forecasted to achieve a revenue of €5.14bn in 2024.
It is expected to demonstrate an annual growth rate of 11.20% from 2024 to 2029, leading to a market volume of €8.74bn by 2029.
In terms of global comparison, United States is anticipated to generate the highest revenue in this market, amounting to €22,940.00m in 2024.
China's robust pharmaceutical industry has positioned it as a global leader in the development and production of other vaccines, driving innovation and accessibility in the market.

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

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Analyst Opinion

The Other Vaccines market in China has been experiencing significant growth in recent years, driven by a combination of factors such as increasing awareness of the importance of vaccination, rising healthcare expenditures, and government initiatives to promote public health.

Customer preferences: Chinese consumers have been increasingly prioritizing the prevention of infectious diseases, leading to a surge in demand for vaccines. This trend has been particularly evident in the wake of the COVID-19 pandemic, which has heightened public awareness of the importance of vaccination. Additionally, an aging population and growing middle class have contributed to the rise in demand for vaccines.

Trends in the market: One of the major trends in the Other Vaccines market in China is the increasing availability of new vaccines. As China continues to invest in its biotech industry, there has been a surge in the development of new vaccines, including those for diseases such as HPV and pneumococcal disease. Additionally, there has been a shift towards more advanced vaccines, such as those using recombinant DNA technology.Another trend in the market is the growing importance of private vaccinations. While the Chinese government provides free vaccinations for certain diseases, such as hepatitis B and tuberculosis, there has been a rise in demand for private vaccinations for other diseases. This trend is driven by a desire for greater convenience and a wider range of vaccine options.

Local special circumstances: China has a unique regulatory environment for vaccines, with strict requirements for clinical trials and approvals. This has led to delays in the introduction of new vaccines, as companies must navigate the complex regulatory landscape. Additionally, there have been concerns in recent years about the safety of some vaccines, leading to a decline in public trust in the healthcare system.

Underlying macroeconomic factors: The Chinese government has been investing heavily in the healthcare sector in recent years, with a focus on improving public health. This has included initiatives to increase access to healthcare services, as well as efforts to promote disease prevention and control. Additionally, rising healthcare expenditures have contributed to the growth of the Other Vaccines market in China.Overall, the Other Vaccines market in China is expected to continue to grow in the coming years, driven by increasing demand for vaccines and government initiatives to improve public health. However, challenges such as regulatory hurdles and public trust issues will need to be addressed in order to fully realize the potential of this 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.