Other Vaccines - North America

North America

Highlights

The Other Vaccines market in North America is anticipated to witness a substantial growth in revenue, with projections indicating a staggering amount of US$25.99bn by the year 2024.
This growth is expected to continue at a steady pace, with an annual growth rate (CAGR 2024-2029) of 10.00%.
As a result, the market volume is estimated to reach US$41.86bn by 2029.
When compared globally, United States is expected to dominate the market in terms of revenue, generating a significant amount of US$24.73bn by 2024.
In North America, the demand for other vaccines is driven by a strong emphasis on preventive healthcare and a growing awareness of the importance of immunization.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Other Vaccines market in North America is a rapidly growing market that is witnessing a surge in demand due to various factors.

Customer preferences: Customers in North America are becoming increasingly aware of the importance of vaccination and are willing to invest in preventive healthcare measures. This has led to a rise in demand for other vaccines, which are used to prevent diseases other than the commonly known ones like influenza and measles.

Trends in the market: One of the major trends in the Other Vaccines market in North America is the increasing adoption of combination vaccines. These vaccines offer protection against multiple diseases in a single shot, thereby reducing the number of injections required. This is particularly appealing to parents who want to minimize the number of doctor visits for their children. Another trend is the growing popularity of travel vaccines, which are used to protect against diseases that are prevalent in other parts of the world. With the increase in international travel, the demand for travel vaccines is expected to rise.

Local special circumstances: The United States is the largest market for Other Vaccines in North America, accounting for the majority of the revenue. The country has a well-established healthcare system and a high level of awareness about the benefits of vaccination. Canada is also a significant market for Other Vaccines, with a growing demand for travel vaccines due to the country’s popularity as a tourist destination.

Underlying macroeconomic factors: The Other Vaccines market in North America is driven by various macroeconomic factors such as increasing healthcare expenditure, growing population, and rising awareness about preventive healthcare. The region has a high level of disposable income, which enables people to invest in healthcare measures such as vaccination. Additionally, the region has a well-established healthcare infrastructure, which makes it easier for people to access vaccination services. The rise in the number of infectious diseases and the growing need for preventive healthcare measures are also contributing to the growth of the Other Vaccines market in North America.

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.