Market Insights Health Pharmaceuticals Vaccines

Other Vaccines - Spain

Spain

The Other Vaccines market in Spain is expected to achieve a revenue of €0.63bn in 2024.
It is projected to experience an annual growth rate (CAGR 2024-2029) of 10.12%, leading to a market volume of €1.02bn by 2029.
When compared globally, United States is anticipated to generate the highest revenue of €22,940.00m in 2024.
Spain is witnessing a rise in demand for other vaccines due to increased awareness and government efforts to improve public health.

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

Mercado

Región

Comparación de regiones

Moneda

Analyst Opinion

The Other Vaccines market in Spain has been experiencing significant growth in recent years.

Customer preferences: Spain has a well-established healthcare system that provides free access to vaccinations for all citizens. However, there has been an increase in demand for other vaccines, such as travel vaccines, due to the country's growing tourism industry. Additionally, there has been a rise in awareness of the importance of preventative healthcare, leading to more individuals seeking out vaccinations.

Trends in the market: The market for other vaccines in Spain has been growing steadily due to various factors. Firstly, the country has a large population of retirees who have disposable income and are willing to invest in their health. Secondly, there has been an increase in the number of individuals traveling to exotic destinations, leading to a higher demand for travel vaccines. Thirdly, there has been a rise in the prevalence of chronic diseases, leading to an increased need for preventative healthcare measures.

Local special circumstances: Spain has a well-established healthcare system that provides free access to vaccinations for all citizens. However, there are still certain vaccines that are not covered by the system, such as travel vaccines. This has led to the growth of private healthcare providers that offer a range of vaccinations, including those not covered by the public system. Additionally, Spain has a large population of expats, who may require vaccines that are not commonly administered in the country.

Underlying macroeconomic factors: Spain has been experiencing economic growth in recent years, leading to an increase in disposable income and a higher demand for healthcare services. Additionally, the country's tourism industry has been booming, leading to an increase in demand for travel vaccines. The government has also been investing in the healthcare sector, providing funding for research and development of new 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.