Vaccines - Guatemala

Guatemala

Highlights

The Vaccines market in Guatemala is expected to witness significant growth in the coming years.
According to projections, the revenue in this market is projected to reach US$66.75m by the year 2024.
Furthermore, it is anticipated that the market will exhibit a compound annual growth rate (CAGR 2024-2029) of -5.18%, resulting in a market volume of US$51.15m by 2029.
When compared globally, it is worth noting that United States will generate the highest revenue in the Vaccines market, with an estimated value of US$29.12bn in 2024.
As a journalist with expertise in the field of vaccines, I can provide you with the following country-specific statement about the current trends in the vaccine market in Guatemala: Guatemala has seen a significant increase in the demand for vaccines as the government focuses on improving the country's immunization rates.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

Guatemala is a country located in Central America that is known for its rich culture and history. The Vaccines market in Guatemala has been developing in a certain way due to a variety of factors.

Customer preferences: The customers in Guatemala have been showing a preference for vaccines that are affordable and effective. They are also interested in vaccines that are easily accessible and can be administered without any complications. This preference has been shaping the market in Guatemala as companies are working to provide vaccines that meet these requirements.

Trends in the market: One of the trends in the Vaccines market in Guatemala is the increasing demand for vaccines that prevent diseases such as influenza and pneumonia. This trend is due to the rising number of cases of these diseases in the country. Another trend is the growing interest in vaccines that prevent sexually transmitted infections. This trend is due to the increasing awareness of the importance of sexual health in the country.

Local special circumstances: The Vaccines market in Guatemala is influenced by the country's healthcare system, which is characterized by a lack of resources and infrastructure. This has made it difficult for companies to provide vaccines to the entire population. In addition, the country's geography, with its many rural areas, has made it challenging to distribute vaccines to these areas.

Underlying macroeconomic factors: The development of the Vaccines market in Guatemala is also influenced by the country's macroeconomic factors. The country's GDP has been growing steadily over the past few years, which has led to an increase in the disposable income of the population. This has made it easier for people to afford vaccines. In addition, the government has been investing in the healthcare sector, which has led to an improvement in the overall healthcare system in the country. This has created opportunities for companies to provide vaccines to the population.In conclusion, the Vaccines market in Guatemala has been developing in a certain way due to a variety of factors such as customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors. Companies that are able to provide vaccines that meet the requirements of the population and are able to navigate the challenges presented by the country's healthcare system and geography will be well-positioned to succeed 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.