Key regions: Australia, Italy, France, South Korea, Brazil
The demand for vaccines in the Americas has been increasing steadily over the years.
Customer preferences: Customers in the Americas have become more health-conscious, and there is a growing awareness of the benefits of vaccines. With the recent outbreaks of diseases such as measles and flu, there has been a heightened concern for vaccination, leading to an increase in demand.
Trends in the market: The United States dominates the vaccine market in the Americas, followed by Canada and Mexico. In the US, there has been a shift towards more specialized vaccines, such as those for cancer and rare diseases. Additionally, there has been an increasing demand for adult vaccines as the population ages. In Canada, the focus has been on improving access to vaccines, especially in remote areas. Mexico has been investing in local vaccine production to reduce dependence on imports.
Local special circumstances: In Brazil, the government has been actively promoting vaccination and has implemented a national immunization program. However, there have been challenges in reaching remote areas and marginalized populations. In Argentina, there has been a rise in vaccine hesitancy, with some parents refusing to vaccinate their children. This has led to outbreaks of preventable diseases such as measles.
Underlying macroeconomic factors: The growth of the vaccine market in the Americas is driven by factors such as population growth, increasing healthcare spending, and advancements in technology. Additionally, the COVID-19 pandemic has brought vaccines to the forefront, with governments and individuals alike recognizing the importance of vaccination in preventing the spread of disease. The push for universal healthcare in some countries has also contributed to the growth of the vaccine market. However, economic downturns and political instability can have a negative impact on the market.
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.
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