Key Market Indicators
Iceland's vaccination coverage for children aged one year is projected to remain steady at 92 percent by 2028, maintaining the same level as in 2023. This stability in vaccination rates reflects a compound annual growth rate (CAGR) of zero. Since 2005, the vaccination coverage has seen a modest year-on-year increase of 0.2 percentage points. However, vaccination coverage for another segment of children aged one year is expected to decline slightly. By 2028, the coverage is anticipated to drop to 89 percent, down from 90 percent in 2023. This represents an average annual decline of 0.2 percentage points. Historical data since 1985 indicates a consistent year-on-year decrease of 0.2 percentage points in this segment. On the economic front, Iceland's vaccine imports are projected to decrease. By 2028, the imports are forecasted to reach approximately $1.36 million, down from $1.41 million in 2023. This marks an average annual decline of 0.6 percent. Since 1993, the demand for vaccines in Iceland has fallen by an average of 1.4 percent per year.
