Vaccines - Chile | Statista Market Forecast

Vaccines - Chile

Chile

Highlights

The Vaccines market in Chile is expected to witness substantial growth in the coming years.
By 2024, the revenue in this market is projected to reach a significant amount of US$202.70m.
This indicates a promising future for the Vaccines market industry in Chile.
Moreover, the market is anticipated to exhibit a strong compound annual growth rate (CAGR) of 1.41% from 2024 to 2029.
This growth rate suggests a steady expansion in the market volume, which is estimated to reach US$217.50m by 2029.
These numbers indicate a positive trajectory for the Vaccines market in Chile, highlighting its potential for further development.
In terms of global comparison, it is noteworthy that United States is expected to generate the highest revenue in the Vaccines market.
In 2024 alone, United States is projected to generate a substantial amount of US$29.12bn.
This showcases the dominance of the United States in the global Vaccines market.
Overall, the Vaccines market in Chile is poised for significant growth, with promising revenue projections and a strong CAGR.
As the market continues to expand, it presents lucrative opportunities for both domestic and international players in Chile.
Chile's proactive approach to vaccination is evident through its robust infrastructure and comprehensive immunization programs.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The demand for vaccines in Chile has been on the rise in recent years due to various factors.

Customer preferences: Chilean consumers have become increasingly health-conscious in recent years, leading to a growing demand for vaccines. In addition, the government has implemented various vaccination campaigns, creating awareness and a sense of urgency among the population.

Trends in the market: The vaccines market in Chile has seen a significant increase in demand for flu vaccines in recent years. This trend is due to the government's annual vaccination campaign, which targets vulnerable populations such as the elderly and children. In addition, there has been a growing demand for travel vaccines due to an increase in international travel by Chileans.

Local special circumstances: Chile has a well-developed healthcare system, which has contributed to the growth of the vaccines market. The government has implemented various policies to improve access to healthcare, including free vaccinations for vulnerable populations. In addition, the private sector has also played a significant role in the vaccines market, with private healthcare providers offering a wide range of vaccines to consumers.

Underlying macroeconomic factors: Chile has a stable economy, with a growing middle class and an increasing demand for healthcare services. This has led to an increase in healthcare spending, including spending on vaccines. In addition, the government has implemented various policies to promote the development of the healthcare sector, including tax incentives for pharmaceutical companies and investment in healthcare infrastructure. These factors have contributed to the growth of the vaccines market in Chile.

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.