Vaccines - South Africa

South Africa

In South Africa, the Vaccines market is anticipated to witness a substantial revenue growth, with projections indicating that it will reach €195.50m in 2024.
This growth is expected to continue at a steady annual rate of 4.22% from 2024 to 2029, resulting in a market volume of €240.40m by the end of the forecast period.
When compared on a global scale, it is noteworthy that United States is set to generate the highest revenue in the Vaccines market, with an estimated value of €26,730.00m in 2024.
South Africa is experiencing a growing demand for vaccines as the government focuses on improving public health.

Key regions: Australia, Italy, France, South Korea, Brazil

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Analyst Opinion

The South African Vaccines market has been steadily growing in recent years, driven by increasing awareness of the importance of vaccination and the need for preventative healthcare measures.

Customer preferences: South African consumers are becoming more health-conscious and are increasingly seeking out preventative healthcare measures. This has led to a growing demand for vaccines, particularly for diseases such as influenza, pneumonia, and HPV. Additionally, the South African government has implemented various vaccination programs, which has further increased the demand for vaccines.

Trends in the market: One of the major trends in the South African Vaccines market is the increasing adoption of combination vaccines. Combination vaccines offer multiple vaccines in a single shot, which is convenient for both patients and healthcare providers. Another trend is the growing demand for travel vaccines, as more South Africans are traveling internationally for both business and leisure.

Local special circumstances: South Africa has a high burden of infectious diseases, such as HIV/AIDS and tuberculosis, which has led to a greater emphasis on preventative healthcare measures such as vaccination. Additionally, the country has a large population of children, who are a key demographic for vaccination.

Underlying macroeconomic factors: The South African economy has been growing slowly in recent years, which has had a moderate impact on the Vaccines market. However, the government's commitment to healthcare spending and the growing demand for preventative healthcare measures have helped to drive growth in the market. Additionally, the country's large pharmaceutical industry and strong research capabilities have made it an attractive market for vaccine manufacturers.

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.