
Latin America and the Caribbean - Vaccines for Human Medicine - Market Analysis, Forecast, Size, Trends and Insights
Get instant access to more than 2 million reports, dashboards, and datasets on the IndexBox Platform.
View PricingLatin America and the Caribbean: Vaccine Market 2025
Vaccine Market Size in Latin America and the Caribbean
In 2022, the Latin American vaccine market decreased by -2.5% to $X for the first time since 2017, thus ending a four-year rising trend. In general, consumption, however, recorded a remarkable increase. Over the period under review, the market reached the peak level at $X in 2021, and then fell slightly in the following year.
Vaccine Production in Latin America and the Caribbean
In value terms, vaccine production expanded rapidly to $X in 2022 estimated in export price. In general, production enjoyed prominent growth. The pace of growth appeared the most rapid in 2018 when the production volume increased by 105% against the previous year. The level of production peaked at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.
Vaccine Exports
Exports in Latin America and the Caribbean
In 2022, approx. X tons of vaccines for human medicine were exported in Latin America and the Caribbean; waning by -26.7% on the previous year. Over the period under review, exports recorded a deep slump. The pace of growth was the most pronounced in 2019 with an increase of 117%. The volume of export peaked at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.
In value terms, vaccine exports fell to $X in 2022. In general, exports, however, enjoyed a buoyant expansion. The pace of growth appeared the most rapid in 2019 with an increase of 240% against the previous year. Over the period under review, the exports reached the maximum at $X in 2021, and then contracted in the following year.
Exports by Country
The shipments of the three major exporters of vaccines for human medicine, namely Mexico, Panama and Brazil, represented more than two-thirds of total export. It was distantly followed by Cuba (X tons), constituting a 9.5% share of total exports. Nicaragua (X tons) and Argentina (X tons) held a minor share of total exports.
From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Nicaragua (with a CAGR of +41.7%), while the other leaders experienced mixed trends in the exports figures.
In value terms, Mexico ($X) remains the largest vaccine supplier in Latin America and the Caribbean, comprising 85% of total exports. The second position in the ranking was taken by Panama ($X), with a 5.5% share of total exports. It was followed by Brazil, with a 4.4% share.
In Mexico, vaccine exports increased at an average annual rate of +26.9% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Panama (-9.5% per year) and Brazil (-6.6% per year).
Export Prices by Country
In 2022, the export price in Latin America and the Caribbean amounted to $X per kg, with an increase of 23% against the previous year. Overall, the export price continues to indicate significant growth. The pace of growth was the most pronounced in 2017 an increase of 100% against the previous year. The level of export peaked in 2022 and is likely to continue growth in the immediate term.
Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Mexico ($X per kg), while Argentina ($X per kg) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mexico (+25.7%), while the other leaders experienced more modest paces of growth.
Vaccine Imports
Imports in Latin America and the Caribbean
After two years of growth, overseas purchases of vaccines for human medicine decreased by -35.2% to X tons in 2022. In general, imports, however, recorded a pronounced increase. The most prominent rate of growth was recorded in 2021 when imports increased by 145% against the previous year. As a result, imports reached the peak of X tons, and then declined notably in the following year.
In value terms, vaccine imports reduced dramatically to $X in 2022. Overall, imports, however, saw a strong expansion. The most prominent rate of growth was recorded in 2021 when imports increased by 281% against the previous year. As a result, imports reached the peak of $X, and then shrank dramatically in the following year.
Imports by Country
Brazil (X tons) and the Dominican Republic (X tons) were the largest importers of vaccines for human medicine in 2022, resulting at approx. 22% and 20% of total imports, respectively. Argentina (X tons) held a 9.5% share (based on physical terms) of total imports, which put it in second place, followed by Chile (5.8%) and Peru (4.5%). Guatemala (X tons), Ecuador (X tons), Mexico (X tons), Bolivia (X tons), Colombia (X tons), Honduras (X tons), El Salvador (X tons) and Uruguay (X tons) followed a long way behind the leaders.
From 2012 to 2022, the biggest increases were recorded for the Dominican Republic (with a CAGR of +38.3%), while purchases for the other leaders experienced more modest paces of growth.
In value terms, Brazil ($X) constitutes the largest market for imported vaccines for human medicine in Latin America and the Caribbean, comprising 39% of total imports. The second position in the ranking was taken by Argentina ($X), with a 16% share of total imports. It was followed by Chile, with an 8.9% share.
In Brazil, vaccine imports expanded at an average annual rate of +11.1% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Argentina (+19.6% per year) and Chile (+14.6% per year).
Import Prices by Country
The import price in Latin America and the Caribbean stood at $X per ton in 2022, falling by -2.4% against the previous year. Overall, the import price, however, recorded strong growth. The pace of growth appeared the most rapid in 2021 when the import price increased by 56%. As a result, import price attained the peak level of $X per ton, and then declined slightly in the following year.
There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Brazil ($X per ton), while the Dominican Republic ($X per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Bolivia (+16.2%), while the other leaders experienced more modest paces of growth.
Source: IndexBox Platform
Frequently Asked Questions (FAQ) :
This report provides an in-depth analysis of the vaccine market in Latin America and the Caribbean. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
- Prodcom 21202140 -
- Prodcom 21202145 - Vaccines for human medicine
Country coverage:
- Anguilla
- Antigua and Barbuda
- Argentina
- Aruba
- Bahamas
- Barbados
- Belize
- Bolivia
- Brazil
- British Virgin Islands
- Cayman Islands
- Chile
- Colombia
- Costa Rica
- Cuba
- Curacao
- Dominica
- Dominican Republic
- Ecuador
- El Salvador
- Falkland Islands (Malvinas)
- French Guiana
- Grenada
- Guadeloupe
- Guatemala
- Guyana
- Haiti
- Honduras
- Jamaica
- Martinique
- Mexico
- Montserrat
- Nicaragua
- Panama
- Paraguay
- Peru
- Saint Kitts and Nevis
- Saint Lucia
- Saint Vincent and the Grenadines
- Saint Maarten (Dutch part)
- Suriname
- Trinidad and Tobago
- Turks and Caicos Islands
- United States Virgin Islands
- Uruguay
- Venezuela
- Puerto Rico
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Production in Latin America and the Caribbean, split by region and country
- Trade (exports and imports) in Latin America and the Caribbean
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND THE AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional EditionPRO
3. MARKET OVERVIEW
Understanding the Current State of The Market and its Prospects
- MARKET SIZE: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
- CONSUMPTION BY COUNTRY: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
- MARKET FORECAST TO 2035
4. MOST PROMISING PRODUCTS FOR DIVERSIFICATION
Finding New Products to Diversify Your Business
- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCTS
- MOST TRADED PRODUCTS
- MOST PROFITABLE PRODUCTS FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Export
- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
- PRODUCTION BY COUNTRY: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
- IMPORTS BY COUNTRY: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
- IMPORT PRICES BY COUNTRY: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
- EXPORTS BY COUNTRY: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
- EXPORT PRICES BY COUNTRY: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
-
11. COUNTRY PROFILES
The Largest Markets And Their Profiles
This Chapter is Available Only for the Professional Edition PRO- Anguilla
- Antigua and Barbuda
- Argentina
- Aruba
- Bahamas
- Barbados
- Belize
- Bolivia
- Brazil
- British Virgin Islands
- Cayman Islands
- Chile
- Colombia
- Costa Rica
- Cuba
- Curacao
- Dominica
- Dominican Republic
- Ecuador
- El Salvador
- Falkland Islands (Malvinas)
- French Guiana
- Grenada
- Guadeloupe
- Guatemala
- Guyana
- Haiti
- Honduras
- Jamaica
- Martinique
- Mexico
- Montserrat
- Nicaragua
- Panama
- Paraguay
- Peru
- Saint Kitts and Nevis
- Saint Lucia
- Saint Vincent and the Grenadines
- Saint Maarten (Dutch part)
- Suriname
- Trinidad and Tobago
- Turks and Caicos Islands
- United States Virgin Islands
- Uruguay
- Venezuela
- Puerto Rico
LIST OF TABLES
- Key Findings In 2024
- Market Volume, In Physical Terms: Historical Data (2012–2024) and Forecast (2025–2035)
- Market Value: Historical Data (2012–2024) and Forecast (2025–2035)
- Per Capita Consumption, by Country, 2022–2024
- Production, In Physical Terms, By Country: Historical Data (2012–2024) and Forecast (2025–2035)
- Imports, In Physical Terms, By Country: Historical Data (2012–2024) and Forecast (2025–2035)
- Imports, In Value Terms, By Country: Historical Data (2012–2024) and Forecast (2025–2035)
- Import Prices, By Country: Historical Data (2012–2024) and Forecast (2025–2035)
- Exports, In Physical Terms, By Country: Historical Data (2012–2024) and Forecast (2025–2035)
- Exports, In Value Terms, By Country: Historical Data (2012–2024) and Forecast (2025–2035)
- Export Prices, By Country: Historical Data (2012–2024) and Forecast (2025–2035)
LIST OF FIGURES
- Market Volume, In Physical Terms: Historical Data (2012–2024) and Forecast (2025–2035)
- Market Value: Historical Data (2012–2024) and Forecast (2025–2035)
- Consumption, by Country, 2024
- Market Volume Forecast to 2035
- Market Value Forecast to 2035
- Market Size and Growth, By Product
- Average Per Capita Consumption, By Product
- Exports and Growth, By Product
- Export Prices and Growth, By Product
- Production Volume and Growth
- Exports and Growth
- Export Prices and Growth
- Market Size and Growth
- Per Capita Consumption
- Imports and Growth
- Import Prices
- Production, In Physical Terms: Historical Data (2012–2024) and Forecast (2025–2035)
- Production, In Value Terms: Historical Data (2012–2024) and Forecast (2025–2035)
- Production, by Country, 2024
- Production, In Physical Terms, by Country: Historical Data (2012–2024) and Forecast (2025–2035)
- Imports, In Physical Terms: Historical Data (2012–2024) and Forecast (2025–2035)
- Imports, In Value Terms: Historical Data (2012–2024) and Forecast (2025–2035)
- Imports, In Physical Terms, By Country, 2024
- Imports, In Physical Terms, By Country: Historical Data (2012–2024) and Forecast (2025–2035)
- Imports, In Value Terms, By Country: Historical Data (2012–2024) and Forecast (2025–2035)
- Import Prices, By Country: Historical Data (2012–2024) and Forecast (2025–2035)
- Exports, In Physical Terms: Historical Data (2012–2024) and Forecast (2025–2035)
- Exports, In Value Terms: Historical Data (2012–2024) and Forecast (2025–2035)
- Exports, In Physical Terms, By Country, 2024
- Exports, In Physical Terms, By Country: Historical Data (2012–2024) and Forecast (2025–2035)
- Exports, In Value Terms, By Country: Historical Data (2012–2024) and Forecast (2025–2035)
- Export Prices, By Country: Historical Data (2012–2024) and Forecast (2025–2035)
Recommended reports
This report provides an in-depth analysis of the vaccine market in Asia.
This report provides an in-depth analysis of the vaccine market in the U.S..
This report provides an in-depth analysis of the vaccine market in China.
This report provides an in-depth analysis of the vaccine market in the EU.
This report provides an in-depth analysis of the global vaccine market.