Key regions: Australia, Italy, France, South Korea, Brazil
Uruguay, a small South American country, has been witnessing a steady growth in its vaccines market over the past few years.
Customer preferences: Uruguay has a well-established public healthcare system that provides free vaccinations to its citizens. However, the private vaccines market has been growing due to the increasing demand for vaccines that are not covered by the public healthcare system. In addition, there has been a growing trend of parents opting for private vaccinations for their children due to concerns over vaccine safety and efficacy.
Trends in the market: The vaccines market in Uruguay has been witnessing a shift towards more advanced and innovative vaccines, such as those for HPV and meningococcal disease. This trend is driven by the increasing awareness among the population about the importance of preventive healthcare and the availability of new and improved vaccines. Another trend in the market is the growing demand for travel vaccines, as more and more Uruguayans travel abroad for work or leisure.
Local special circumstances: Uruguay has a relatively small population and a high literacy rate, which makes it easier for healthcare providers to educate the population about the benefits of vaccines. In addition, the country has a stable political and economic environment, which has helped to attract foreign investment in the healthcare sector.
Underlying macroeconomic factors: The healthcare sector in Uruguay is heavily regulated by the government, which has helped to ensure the quality and safety of vaccines. The country has a strong pharmaceutical industry, which has been investing in research and development of new vaccines. In addition, the government has been investing in healthcare infrastructure, which has helped to improve access to vaccines in remote areas of the country. The growing middle class in Uruguay has also been driving the demand for private healthcare services, including vaccines.
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.
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