Vaccines - Paraguay

Paraguay

In 2024, the projected revenue in the Vaccines market in Paraguay is expected to reach US$28.77m.
This represents a significant market size for the country.
Looking ahead, the revenue is anticipated to grow at an annual rate of -3.42% from 2024 to 2029.
By the end of 2029, the market volume is estimated to reach US$24.18m, showcasing the potential for growth in the Vaccines market sector.
When comparing Paraguay's revenue to the global market, it is worth noting that United States is expected to generate the highest revenue in 2024, with a staggering amount of US$29,120.00m.
This highlights the dominance of the United States in the global Vaccines market.
Paraguay is witnessing a growing demand for vaccines as the government focuses on improving healthcare access and immunization rates.

Key regions: Australia, Italy, France, South Korea, Brazil

Market

Region

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Currency

Analyst Opinion

The demand for vaccines in Paraguay has been steadily increasing over the years.

Customer preferences: The Paraguayan population has become more health-conscious and aware of the importance of vaccines in preventing diseases. The government has also been actively promoting vaccination programs to improve public health. As a result, more people are seeking vaccinations for themselves and their families.

Trends in the market: One of the notable trends in the Paraguayan vaccine market is the increasing demand for influenza vaccines. This is due to the rising awareness of the importance of flu vaccination, especially among vulnerable populations such as the elderly and children. Another trend is the growing demand for vaccines that protect against mosquito-borne diseases such as dengue fever and Zika virus. This is because Paraguay is located in a region where these diseases are prevalent.

Local special circumstances: Paraguay has a large rural population, which presents unique challenges for vaccine distribution. The government has implemented various programs to improve access to vaccines in rural areas, such as mobile vaccination units and outreach programs. Additionally, the country has a large indigenous population, which requires culturally sensitive vaccination programs.

Underlying macroeconomic factors: The Paraguayan economy has been growing steadily over the past decade, which has led to an increase in disposable income and healthcare spending. This has contributed to the growing demand for vaccines in the country. Additionally, the government has been investing in healthcare infrastructure and programs to improve public health outcomes. This has also helped to drive demand for vaccines.

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.