Other Vaccines - Mexico

Mexico

Highlights

The revenue in the Other Vaccines market in Mexico is estimated to reach US$326.90m in 2024.
It is projected to display an annual growth rate (CAGR 2024-2029) of 10.15%, leading to a market volume of US$530.00m by 2029.
When compared globally, United States is expected to generate the highest revenue of US$24.73bn in 2024.
Mexico is seeing a growing demand for other vaccines, driven by increased public awareness and government efforts to improve healthcare access.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The demand for Other Vaccines in Mexico has been increasing in recent years, driven by several factors.

Customer preferences: Mexican customers are becoming more aware of the importance of preventing diseases through vaccination. As a result, they are increasingly seeking out vaccines beyond the standard childhood immunizations, such as those for influenza, hepatitis, and human papillomavirus (HPV). Additionally, the COVID-19 pandemic has heightened awareness of the importance of vaccines in general, which has likely contributed to increased demand for Other Vaccines.

Trends in the market: One trend in the Other Vaccines market in Mexico is the increasing availability of vaccines in private clinics and hospitals. While the public health system in Mexico provides free vaccinations for certain diseases, many people prefer to receive vaccines in private settings due to shorter wait times and more personalized care. Another trend is the growing popularity of travel vaccines, as more Mexicans are traveling internationally for work and leisure.

Local special circumstances: Mexico has a large population of young people, which has led to a high demand for HPV vaccines. In addition, the country has a high prevalence of certain diseases, such as dengue fever and hepatitis, which has led to increased demand for vaccines to prevent these illnesses. Finally, the country's large tourism industry has contributed to the demand for travel vaccines.

Underlying macroeconomic factors: Mexico's economy has been growing in recent years, which has led to an increase in healthcare spending. This has likely contributed to the availability of more vaccines in private clinics and hospitals. Additionally, the country's population is projected to continue growing, which will likely lead to continued demand for vaccines in the coming years. Finally, the COVID-19 pandemic has highlighted the importance of healthcare and vaccination, which may lead to increased government spending on healthcare infrastructure and vaccine distribution in the future.

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.