Market Insights Health Pharmaceuticals Vaccines

Other Vaccines - Americas

Americas

In the Americas, the Other Vaccines market is anticipated to witness substantial growth, with projected revenue of US$27.66bn in 2024.
This revenue is expected to exhibit a compound annual growth rate (CAGR 2024-2029) of 10.03%, leading to a market volume of US$44.61bn by 2029.
Notably, United States is projected to generate the highest revenue in the global comparison, amounting to US$24,730.00m in 2024.
In the Americas, there is a rising demand for other vaccines, with countries like the United States and Canada investing heavily in research and development.

Key regions: Australia, Brazil, United Kingdom, Europe, Canada

Market

Region

Region comparison

Currency

Analyst Opinion

The Other Vaccines market in Americas has been growing steadily in recent years, with increasing demand for vaccines beyond the traditional childhood immunizations.

Customer preferences: Customers in the Americas have been increasingly interested in vaccines that protect against diseases such as HPV, meningitis, and pneumonia. This is partly due to greater awareness of the importance of preventive healthcare, as well as the availability of new vaccines that offer protection against a wider range of diseases.

Trends in the market: In the United States, the Other Vaccines market has been driven by the growing popularity of the HPV vaccine, which protects against several strains of the virus that can cause cervical cancer. The vaccine has been recommended for both boys and girls, and has been shown to be highly effective in preventing HPV-related cancers.In Latin America, the market for Other Vaccines has been driven by a range of factors, including government initiatives to expand access to healthcare and increasing demand from the growing middle class. In Brazil, for example, the government has launched a program to provide free meningitis vaccines to all children under the age of five.

Local special circumstances: In Canada, the Other Vaccines market has been shaped by the country's universal healthcare system, which covers the cost of most vaccines. This has helped to ensure high vaccination rates, particularly for childhood immunizations. However, there have been concerns about the cost of newer vaccines, such as the HPV vaccine, which may not be covered by all provinces.In Mexico, the market for Other Vaccines has been impacted by the country's high levels of poverty and inequality. While the government has made efforts to expand access to healthcare, many people still struggle to afford vaccines and other medical treatments.

Underlying macroeconomic factors: The growth of the Other Vaccines market in the Americas has been driven by a range of macroeconomic factors, including rising healthcare spending, increasing awareness of the importance of preventive healthcare, and the availability of new vaccines. In addition, government initiatives to expand access to healthcare have played an important role in driving demand for vaccines.Looking ahead, the Other Vaccines market in the Americas is likely to continue to grow, driven by ongoing innovation in vaccine development and increasing demand from customers. However, challenges such as vaccine hesitancy and affordability may also need to be addressed in order to ensure that all people have access to the vaccines they need to stay healthy.

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.