Market Insights Health Pharmaceuticals Vaccines

Other Vaccines - NAFTA

NAFTA

The Other Vaccines market is set to witness impressive growth in the coming years.
According to projections, the revenue in this market is expected to reach US$25.99bn by 2024.
Moreover, it is anticipated that the market will continue to expand at a compound annual growth rate (CAGR) of 10.00% between 2024 and 2029.
As a result, the market volume is forecasted to reach US$41.86bn by 2029.
When considering the global market, it is worth noting that United States is expected to generate the highest revenue in this sector.
In 2024 alone, United States is projected to contribute US$24,730.00m to the market, solidifying its position as a key player in the Other Vaccines market.
It is important to mention that these figures pertain to the NAFTA region, which includes United States, Canada, and Mexico.
The demand for other vaccines in the NAFTA region has been steadily increasing due to the growing awareness of preventive healthcare measures.

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

Market

Region

Region comparison

Currency

Analyst Opinion

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

Customer preferences: One of the main reasons for this growth is the increasing demand for vaccines that protect against diseases other than the commonly known ones like measles and chickenpox. Customers are becoming more aware of the importance of preventing diseases like meningitis, pneumonia, and rotavirus, which has led to an increase in demand for Other Vaccines.

Trends in the market: The United States is the largest market for Other Vaccines in NAFTA, accounting for the majority of the region's revenue. This can be attributed to the high healthcare expenditure in the country and the government's focus on disease prevention. However, Mexico is expected to witness the highest growth rate in the market due to the increasing awareness about the importance of vaccination and the government's efforts to improve healthcare infrastructure.

Local special circumstances: In Canada, the demand for Other Vaccines is driven by the country's aging population and the increasing prevalence of chronic diseases. The government's efforts to promote immunization and the availability of free vaccines for certain age groups have also contributed to the growth of the market in the country.

Underlying macroeconomic factors: The growth of the Other Vaccines market in NAFTA can also be attributed to the region's strong economic growth and increasing healthcare expenditure. The rise in disposable income has allowed customers to spend more on preventive healthcare measures like vaccination. Additionally, the growing focus on disease prevention and the availability of advanced vaccines have also contributed to the growth of the market.

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.