Vaccines - Argentina | Statista Market Forecast

In Argentina, the Vaccines market is anticipated to witness a substantial growth in revenue, with projections indicating that it will reach US$621.80m by the year 2024.
Moreover, it is expected to exhibit a steady annual growth rate (CAGR 2024-2029) of -6.04%, resulting in a market volume of US$455.40m by 2029.
When compared to other countries worldwide, United States is forecasted to generate the highest revenue in the Vaccines market, with an estimated value of US$29.12bn in 2024.
The Argentine government has implemented various initiatives to increase vaccine accessibility and distribution across the country, leading to a significant increase in vaccination rates.

Definition:
This market covers vaccines against infectious diseases. They help to prevent diseases, usually through active immunization. Vaccines against infectious diseases transmitted by viruses (e.g., hepatitis A and B or COVID-19) and bacteria (e.g., typhoid fever or meningococcus) are included.

Additional information:
Market values represent the revenues generated by manufacture prices paid to primary vendors, either directly or through distribution channels (excluding VAT). Reported market revenues include spending by consumers (B2C), companies (B2B), and governments (B2G).

Company examples: Pfizer, GlaxoSmithKline, Merck & Co, Sanofi, Moderna, AstraZeneca

Vaccines against infectious diseases
Prophylactic and therapeutic vaccines
Flu vaccines
COVID-19 vaccines

Sera and gammaglobulins
Antivirals
Antibiotics

The Vaccines market in Argentina has experienced significant growth in recent years.

Customer preferences: Customers in Argentina are increasingly seeking out vaccines for a variety of reasons. One major factor is the growing awareness of the importance of preventive healthcare measures. Additionally, the government has implemented various vaccination campaigns to combat diseases such as influenza, meningitis, and HPV, which has increased demand for vaccines.

Trends in the market: The vaccines market in Argentina has seen a trend towards the development of new and innovative vaccines. This has been driven by the need to combat emerging diseases and the growing demand for more effective vaccines. Furthermore, there has been an increase in the number of private vaccination clinics, which has led to greater competition in the market.

Local special circumstances: Argentina has a well-established pharmaceutical industry, which has helped to support the growth of the vaccines market. Additionally, the government has implemented various policies and programs to support the development and distribution of vaccines. However, there have been challenges in the market, including issues with vaccine supply and distribution, as well as concerns around vaccine safety.

Underlying macroeconomic factors: The growth of the vaccines market in Argentina has been supported by a number of underlying macroeconomic factors. These include a growing population, increasing healthcare spending, and a focus on preventive healthcare measures. Additionally, the government has implemented various policies and programs to support the development and distribution of vaccines, which has helped to drive growth in the market. However, there have been challenges in the market, including issues with vaccine supply and distribution, as well as concerns around vaccine safety.

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.

This report presents a comprehensive analysis and additional information on the Health market, in a PDF format.

As of March 2023, more than 13 billion COVID-19 vaccine doses had been administered worldwide. Wide-spread vaccine availability, increasing herd immunity, and lower case numbers led to renewed hope and a feeling of normality in 2023. However, especially during the winter seasons and with the potential emergence of new variants of the virus (like Omicron in 2021-2022), tracking of coronavirus cases repeatedly becomes a focus for the public. Thus, there is a level of uncertainty about what developments the winter season 2023/2024 might bring.