Vaccines - Ecuador | Statista Market Forecast

The Vaccines market in Ecuador is projected to reach a revenue of US$78.96m by 2024.
It is expected to show an annual growth rate (CAGR 2024-2029) of -1.17%, resulting in a market volume of US$74.46m by 2029.
When compared globally, United States is anticipated to generate the highest revenue of US$29.12bn in 2024.
Ecuador's growing demand for vaccines is driven by its proactive government policies and public awareness campaigns.

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 Ecuador has been showing steady growth in recent years.

Customer preferences: Ecuadorians have shown a growing interest in preventative healthcare measures, including vaccines. This is partly due to increased awareness of the benefits of vaccination and the importance of herd immunity. There has also been a rise in the number of people travelling abroad, which has led to an increase in demand for travel vaccines.

Trends in the market: The vaccines market in Ecuador has been growing steadily due to a number of factors. Firstly, there has been an increase in government spending on healthcare, which has led to greater access to vaccines for the general population. Secondly, there has been a rise in the number of private healthcare providers, which has led to increased competition in the market. Finally, there has been a growing trend towards the use of combination vaccines, which offer protection against multiple diseases in a single shot.

Local special circumstances: One of the unique factors affecting the vaccines market in Ecuador is the country's geography. Ecuador is located on the equator and has a tropical climate, which makes it an ideal breeding ground for diseases such as dengue fever and yellow fever. As a result, there is a high demand for vaccines that protect against these diseases. Additionally, Ecuador has a large indigenous population, which has its own unique healthcare needs and preferences.

Underlying macroeconomic factors: The vaccines market in Ecuador is influenced by a number of macroeconomic factors, including government spending on healthcare, the availability of healthcare infrastructure, and the level of competition in the market. Additionally, the country's political stability and economic growth play a role in determining the overall demand for vaccines. Overall, the vaccines market in Ecuador is expected to continue growing in the coming years, driven by increasing demand for preventative healthcare measures and greater access to vaccines for the general population.

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.