Market Insights Health Pharmaceuticals Vaccines

COVID-19 Vaccines - South America

South America

In South America, the revenue in the COVID-19 Vaccines market is projected to reach US$1.98bn in 2024.
Looking ahead, it is expected to show an annual growth rate (CAGR 2024-2029) of -17.65%, resulting in a market volume of US$0.75bn by 2029.
In comparison to other countries worldwide, United States is anticipated to generate the highest revenue, reaching US$4,389,000.00k in 2024.
In South America, the demand for COVID-19 vaccines is surging as governments prioritize vaccination campaigns to curb the spread of the virus.

Key regions: United Kingdom, Germany, France, South Korea, Italy

Market

Region

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Analyst Opinion

The COVID-19 Vaccines market in South America has been developing at a steady pace, with a growing number of countries in the region rolling out vaccination campaigns to combat the pandemic.

Customer preferences: The customer preferences in South America are driven by the need for a safe and effective vaccine that can protect them against the virus. The majority of people in the region are willing to get vaccinated, but there are concerns about the safety and efficacy of different vaccines. Many customers are also looking for vaccines that are affordable and accessible to all.

Trends in the market: Brazil, the largest country in South America, has been at the forefront of the COVID-19 vaccine market, with a robust vaccination campaign that has already vaccinated a significant portion of its population. Other countries in the region, such as Argentina, Chile, and Colombia, have also started their vaccination campaigns, but at a slower pace. The demand for vaccines in the region is high, but the supply has been limited, leading to delays in the vaccination campaigns.

Local special circumstances: The COVID-19 pandemic has hit South America hard, with many countries in the region struggling to contain the virus. The region has been facing economic and social challenges, with many people losing their jobs and struggling to make ends meet. The pandemic has also exposed the weaknesses of the healthcare systems in the region, leading to a growing demand for better healthcare infrastructure and services.

Underlying macroeconomic factors: The COVID-19 pandemic has had a significant impact on the macroeconomic factors in South America, with many countries in the region experiencing a decline in their GDP. The pandemic has disrupted supply chains, leading to shortages of essential goods and services. The healthcare sector has been under immense pressure, with many hospitals and clinics struggling to cope with the influx of COVID-19 patients.In conclusion, the COVID-19 Vaccines market in South America is developing at a steady pace, with a growing number of countries in the region rolling out vaccination campaigns. The customer preferences are driven by the need for a safe and effective vaccine that can protect them against the virus. The local special circumstances in the region have highlighted the need for better healthcare infrastructure and services. The underlying macroeconomic factors have been impacted by the pandemic, leading to a decline in the GDP and disruptions in the supply chains.

Methodology

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.