Vaccines - Malaysia

Malaysia

In Malaysia, the revenue in the Vaccines market is forecasted to reach US$242.40m by 2024.
It is expected to exhibit an annual growth rate (CAGR 2024-2029) of -5.29%, leading to a market volume of US$184.70m by 2029.
When compared globally, United States is projected to generate the highest revenue in the Vaccines market, amounting to US$29,120.00m in 2024.
Malaysia is witnessing a growing demand for vaccines as the government prioritizes public health and aims to achieve widespread immunization.

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

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Analyst Opinion

The demand for vaccines in Malaysia has been increasing in recent years.

Customer preferences: Malaysian customers have been showing a growing preference for vaccines due to the increasing awareness of the importance of preventive healthcare. This has led to a rise in demand for both adult and pediatric vaccines. The COVID-19 pandemic has also created a sense of urgency among customers to protect themselves from infectious diseases.

Trends in the market: The vaccines market in Malaysia has been growing at a steady pace, with a focus on the development of new vaccines and the expansion of existing ones. The government has been actively promoting vaccination programs, which has contributed to the growth of the market. The demand for vaccines has also been driven by the increasing number of private healthcare providers in the country.

Local special circumstances: Malaysia has a well-established healthcare system, which includes both public and private healthcare facilities. The government has been actively promoting vaccination programs, and vaccines are widely available in both public and private healthcare facilities. The country has also been actively involved in the development of new vaccines, particularly for infectious diseases.

Underlying macroeconomic factors: Malaysia has a growing population and a rising middle class, which has led to an increase in demand for healthcare services. The government has been investing in healthcare infrastructure and has set a target to achieve universal health coverage by 2025. The healthcare industry is expected to continue to grow in the coming years, which will drive the demand for 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.