Other Vaccines - Guatemala

Guatemala

Highlights

The Other Vaccines market in Guatemala is projected to achieve a revenue of US$19.79m in 2024.
It is expected to exhibit an annual growth rate of 10.79% (CAGR 2024-2029), leading to a market volume of US$33.04m by 2029.
In terms of global comparison, United States will generate the highest revenue, amounting to US$24.73bn in 2024.
Guatemala is witnessing an increasing demand for other vaccines as the government focuses on strengthening its healthcare infrastructure.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Other Vaccines market in Guatemala has been experiencing growth in recent years due to various factors.

Customer preferences: Guatemalan customers have been showing an increasing interest in vaccines for diseases other than the common ones like measles, mumps, and rubella. This is due to the rising awareness among the population about the importance of preventing other illnesses such as pneumonia, meningitis, and hepatitis.

Trends in the market: One of the major trends in the Other Vaccines market in Guatemala is the increasing demand for vaccines for diseases that are prevalent in the country. For instance, Guatemala has been experiencing outbreaks of dengue fever, and this has led to a surge in demand for dengue vaccines. Similarly, there has been a growing demand for vaccines for other tropical diseases such as yellow fever and chikungunya.Another trend in the market is the increasing availability of vaccines in the country. The government has been working to improve the healthcare system, and this has led to better access to vaccines for the population. Additionally, there has been an increase in the number of private healthcare providers offering vaccines, which has further improved access to vaccines.

Local special circumstances: Guatemala is a country with a high prevalence of infectious diseases, and this has led to a higher demand for vaccines. The country also has a large population of indigenous people who may have different healthcare needs and preferences compared to the rest of the population. This has led to the development of vaccines that are specifically targeted towards the indigenous population.

Underlying macroeconomic factors: The Guatemalan economy has been growing steadily in recent years, and this has led to an increase in disposable income for the population. This has made it easier for people to afford vaccines, which has led to an increase in demand. Additionally, the government has been investing in the healthcare sector, which has led to an improvement in the availability and quality of healthcare services in the country. This has further contributed to the growth of the Other Vaccines market in Guatemala.

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.