Vaccines - Dominican Republic

Dominican Republic

Highlights

In the Dominican Republic, the revenue in the Vaccines market is estimated to reach US$38.99m in 2024.
It is expected to exhibit an annual growth rate (CAGR 2024-2029) of 4.34%, leading to a market volume of US$48.23m by 2029.
When compared to other countries worldwide, United States is projected to generate the highest revenue of US$29.12bn in 2024.
The Dominican Republic has seen a significant increase in the demand for vaccines, driven by rising awareness and government initiatives.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Dominican Republic is a country located in the Caribbean region, known for its beautiful beaches, rich culture, and diverse wildlife. The healthcare system in the Dominican Republic is a mix of public and private sectors, with the government providing free healthcare to its citizens. The vaccines market in the Dominican Republic has been steadily growing over the years, driven by various factors.

Customer preferences: The Dominican Republic has a high demand for vaccines due to the prevalence of infectious diseases such as dengue fever, malaria, and Zika virus. The population is also becoming more aware of the importance of preventive healthcare, leading to an increase in vaccination rates. The government has been actively promoting vaccination programs to ensure that the population is protected against preventable diseases.

Trends in the market: The vaccines market in the Dominican Republic has been growing steadily over the years, with an increasing number of vaccines being introduced into the market. The market has seen a shift towards more advanced and innovative vaccines, such as those that target multiple strains of a disease or those that have a longer duration of protection. The market has also seen an increase in the number of combination vaccines, which offer protection against multiple diseases in a single shot.

Local special circumstances: The Dominican Republic has a large population of young children, who are particularly vulnerable to infectious diseases. As a result, the government has placed a strong emphasis on childhood vaccination programs, which have been successful in reducing the incidence of vaccine-preventable diseases. The government has also been working to increase access to vaccines in rural areas, where healthcare infrastructure is limited.

Underlying macroeconomic factors: The Dominican Republic has a growing economy, which has led to an increase in healthcare spending. The government has been investing in healthcare infrastructure, including the construction of new hospitals and clinics. The country has also been attracting foreign investment in the healthcare sector, which has led to the introduction of new vaccines and technologies. The government has also been working to improve the regulatory environment for vaccines, which has helped to increase consumer confidence in 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.