Key regions: Australia, Italy, France, South Korea, Brazil
The demand for vaccines in Central America has been on the rise in recent years due to various factors.
Customer preferences: Customers in Central America are becoming more aware of the importance of vaccines in preventing diseases. This has led to an increase in demand for vaccines, especially for children. Parents are now more willing to vaccinate their children to protect them from diseases such as polio, measles, and rubella. Additionally, the growing elderly population in the region has also contributed to the increase in demand for vaccines.
Trends in the market: The vaccines market in Central America has been growing steadily in recent years. One of the major trends in the market is the increasing demand for combination vaccines, which protect against multiple diseases with a single shot. This has led to the development of new combination vaccines by major players in the market. Another trend is the growing popularity of flu vaccines, which are now being offered in more locations and at more affordable prices.
Local special circumstances: One of the major challenges in the vaccines market in Central America is the lack of access to healthcare in some areas. This has led to a lower vaccination rate in certain regions, which puts the population at risk of diseases. Additionally, some countries in the region have faced political instability and economic challenges, which have impacted the healthcare system and access to vaccines.
Underlying macroeconomic factors: The growth of the vaccines market in Central America is also driven by macroeconomic factors such as population growth and economic development. As the population continues to grow, the demand for vaccines will also increase. Additionally, the economic development in the region has led to an increase in healthcare spending, which has contributed to the growth of the vaccines market. The region has also seen an increase in foreign investment, which has led to the development of new vaccines and technologies.
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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