DUBLIN--(BUSINESS WIRE)--The "South America Travel Vaccines Market Forecast to 2028 - COVID-19 Impact and Regional Analysis - by Product and Application" report has been added to ResearchAndMarkets.com's offering.
The travel vaccines market in SAM is expected to grow from US$ 143.20 million in 2021 to US$ 243.85 million by 2028; it is estimated to grow at a CAGR of 7.6% from 2021 to 2028.
The SAM travel vaccines market is segmented into Brazil, Argentina, and the Rest of SAM. During the forecast period, the region is expected to continue its dominance due to an increase in the prevalence of regional diseases, rapid technological innovations, vaccine development, and an increasing geriatric population.
Brazil is the major vaccine manufacturer in the region. The country is self-sufficient for 54% of vaccination needs, including DTP, DT for adults and infants, TT, HepB, and DTP combined vaccines (DTP-HB and DTP-HB-Hib), seasonal influenza vaccine, YF vaccine, and meningo AC. Brazil is one of the major worldwide producers of the YF vaccine, with the lowest market price.
Similar to Brazil, Argentina is also the largest country in the region. Argentina has an upper middle-income economy with a diversified industrial sector. The country's GDP was US$ 123,369 million in 2021. The GDP of Argentina has grown at a compound rate of 6.8% over the last five years.
Major countries contributing to the market's growth include Chile, Colombia, Peru, Cuba, Venezuela, and Bolivia. The countries offer significant growth opportunities for the growth of the market. The factors such as increasing focus on vaccine research, continuous advancements in vaccine development technologies, and increasing government spending on pharmaceutical R&D in the region are expected to boost the travel vaccines market.
With the new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the SAM travel vaccines market. The SAM travel vaccines market is expected to grow at a good CAGR during the forecast period.
SAM Travel Vaccines Market Segmentation
SAM travel vaccines market is segmented into product, application, and country. The SAM travel vaccines market, based on product, is segmented into hepatitis A, hepatitis B, meningococcal vaccines, and others. In 2021, the others segment held the largest share of the market. The SAM travel vaccines market, based on application, is segmented into domestic travel and outbound travel. In 2021, the outbound travel segment held the largest share of the market. Based on country, the SAM travel vaccines market is segmented into Brazil, Argentina, and the Rest of SAM.
Market Dynamics
Market Drivers
- Travel and Tourism is Growing
- Growing Incidences of Infectious Diseases
Market Restraints
- High Cost of Travel Vaccines
- Market Opportunities
- Awareness Regarding Vaccines
Future Trends
- Continuous Ongoing Demand for Vaccines
Key Topics Covered:
1. Introduction
2. SAM Travel Vaccines Market - Key Takeaways
3. Research Methodology
4. SAM Travel Vaccines Market- Market Landscape
5. SAM Travel Vaccines Market - Key Market Dynamics
6. Travel Vaccines Market - SAM Analysis
7. SAM Travel Vaccines Market Analysis - By Product
8. SAM Travel Vaccines Market Analysis - By Application
9. SAM Travel Vaccines Market - Country Analysis
10. Travel Vaccines Market-Industry Landscape
11. Company Profiles
Companies Mentioned
- Abbott
- GlaxoSmithKline plc
- Merck & Co., Inc.
- Novartis AG
- Pfizer Inc.
- Sanofi
For more information about this report visit https://www.researchandmarkets.com/r/91i1n1
