Market Insights Health Pharmaceuticals Vaccines

Other Vaccines - Caribbean

Caribbean

The revenue of the Other Vaccines market in the Caribbean is forecasted to reach US$127.70m in 2024.
It is anticipated that the revenue will exhibit a compound annual growth rate (CAGR 2024-2029) of 9.94%, leading to a market volume of US$205.10m by 2029.
When compared globally, United States is projected to generate the highest revenue, amounting to US$24,730.00m in 2024.
The Caribbean is experiencing a growing demand for other vaccines as the region focuses on improving public health and disease prevention measures.

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

Market

Region

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Analyst Opinion

The Other Vaccines market in Caribbean has been experiencing significant growth in recent years.

Customer preferences: Caribbean countries have been increasing their focus on healthcare and investing more in the sector. As a result, there is a growing demand for vaccines, including Other Vaccines. Additionally, the rise of tourism in the region has led to an increase in the number of visitors, which has also contributed to the growth in demand for vaccines.

Trends in the market: One of the trends in the Other Vaccines market in the Caribbean is the increasing adoption of vaccination programs by governments. This has led to an increase in the number of people receiving vaccinations, including Other Vaccines. Another trend is the growing awareness of the importance of vaccines, which has led to more people seeking out vaccination services.

Local special circumstances: The Caribbean is a unique market for vaccines due to the high prevalence of infectious diseases in the region. This has led to a greater emphasis on preventative healthcare measures, including vaccination. Additionally, the region is home to a large number of vulnerable populations, such as the elderly and those with chronic illnesses, who are at a higher risk of contracting infectious diseases.

Underlying macroeconomic factors: The growth in the Other Vaccines market in the Caribbean can be attributed to several macroeconomic factors. The region has experienced economic growth in recent years, which has led to an increase in healthcare spending. Additionally, the rise of tourism has contributed to the growth in demand for vaccines. Finally, the prevalence of infectious diseases in the region has led to a greater emphasis on preventative healthcare measures, including vaccination.

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.