Other Vaccines - Jamaica

Jamaica

Highlights

In Jamaica, the revenue in the Other Vaccines market is estimated to reach US$4.24m in 2024.
It is expected that the revenue will demonstrate an annual growth rate (CAGR 2024-2029) of 9.94%, leading to a market volume of US$6.80m by 2029.
When compared globally, United States is projected to generate the highest revenue in this market, amounting to US$24.73bn in 2024.
Jamaica's increasing focus on public health has led to a rising demand for other vaccines in the country.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Other Vaccines market in Jamaica has been experiencing significant growth over the past few years.

Customer preferences: Jamaicans are becoming increasingly aware of the importance of vaccination and are taking proactive steps to protect themselves from various diseases. This has led to a growing demand for Other Vaccines, which are designed to prevent illnesses such as chickenpox, pneumonia, and meningitis.

Trends in the market: One of the key trends in the Other Vaccines market in Jamaica is the increasing adoption of combination vaccines. These vaccines offer protection against multiple diseases in a single shot, making it more convenient for patients and reducing the number of injections they need to receive. This trend is expected to continue as more manufacturers develop combination vaccines for a wider range of diseases. Another trend in the market is the growing popularity of travel vaccines. With more Jamaicans traveling abroad for work and leisure, there is a higher demand for vaccines that protect against diseases prevalent in other countries. This has led to an increase in the availability of travel vaccines in Jamaica, as well as a rise in the number of vaccination clinics that specialize in travel medicine.

Local special circumstances: Jamaica has a high incidence of mosquito-borne diseases such as dengue fever and Zika virus, which has led to a greater demand for vaccines that protect against these illnesses. In addition, the country has a large population of young children who are particularly vulnerable to infectious diseases. This has led to a focus on childhood vaccination programs, with the government offering free vaccines to children under the age of five.

Underlying macroeconomic factors: Jamaica's growing economy and increasing disposable income have contributed to the growth of the Other Vaccines market. As more Jamaicans are able to afford healthcare services, they are more likely to seek out preventive measures such as vaccination. In addition, the government's commitment to improving healthcare access and infrastructure has also played a role in the market's growth. However, challenges such as limited access to healthcare in rural areas and vaccine hesitancy among some segments of the population remain barriers to further growth 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.