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Latin America Vaccine Contract Manufacturing Market Research Report – Segmented By Service Type, Product Type, Vaccine Type and Country (Brazil, Argentina, Chile, Mexico and Rest of Latin America) - Industry Size, Share, Trends and Growth Forecast (2022 to 2027)

Published: March, 2023
ID: 7581
Pages: 145
Formats: report pdf report excel report power bi report ppt

Latin America Vaccine Contract Manufacturing Market Size (2022 to 2027)

The size of the Vaccine contract manufacturing market in Latin America was about USD 103.79 million in 2022. It is expected to rise at a CAGR of 7% and turn into a USD 145.57 million market by 2027 because of low registration costs and a continuously growing economy. The forecasted growth results from increasing economies in the region combined with low registration costs and strong backing from the local governments.

Increasing demand for treating infectious diseases such as Hepatitis B, malaria, influenza virus, and many more, together with research and development associated with new vaccine discovery and increased awareness in people regarding the vaccine, are some of the factors escalating the market growth during the estimated period. More than 2million people are employed for research and development to find innovative drugs or vaccines that enhance the lives of the patients, according to the International Federation Pharmaceutical Manufacturers & Association (IFPMA) in 2020. Rising demand for improving vaccines from private and government sectors among the developed and industrial economies influences the vaccine contract manufacturing market growth in Latin America.

Lack of skilled labor for the manufacturing of drugs and lack of equipment in low resource countries impedes the growth of the vaccine contract manufacturing market over the period. Increasing pricing pressure and shortage of proper services are hampering the market growth in this region.

This research report on the Latin America vaccine contract manufacturing market has been segmented and sub-segmented into the following categories:

By Service Type:

  • Bulk Product
  • Fill Finish

By Product Type:

  • Single Vaccine
    • Influenza Virus
    • Ebola Virus
    • Chickenpox
    • Tetanus
    • Tuberculosis
    • Polio
    • Smallpox
    • Others
  • Combination Type

By Vaccine Type:

  • Inactivated Vaccines
  • Conjugate Vaccines
  • Live Attenuated Vaccines
  • Toxoid Vaccines
  • Recombinant Vector Vaccines
  • Subunit Vaccines
  • Synthetic Vaccines

By Country:

  • Brazil
  • Argentina
  • Chile
  • Mexico
  • Rest of Latin America

Geographically, the Latin American market is expected to have stable and steady growth in the market of vaccine contract manufacturing during the forecast period. The market is ascribed to low drug registration costs and ongoing economic growth. The increasing tendency of drug manufacturers to concentrate on core abilities like research and development are recognized to have a significant impact on the growth of contract research organizations.

Brazil is anticipated to have the highest share in terms of revenue production. The government’s measures to assure GMP conformity in small and medium-sized pharma industries are augmenting the market share for Brazil.

Chile is considered to have rapid growth in the market over the period. Chile's market is attributed due to the appearance of industries like biomarker discovery, assay development, and analytical services fuel the growth. Brazil has executed one of the largest universal healthcare systems globally- the Sistema Unico de Saude (Unified Health System) in enhancing the healthcare system in the country. This achievement is projected to bolster market growth in the region. In Chile, the Chilean government's ongoing efforts in strengthening the intellectual property amid the biopharmaceutical industry are anticipated to foster contract manufacturing organizations' advancements in the country.

Major corporations producing vaccines in the Latin American vaccine contract manufacturing market are Merck, Baxter International, Crucell, Sanofi Pasteur, Emergent BioSolutions, Novartis, Bavarian Nordic A/S, Pfizer Inc, Sinovac Biotech, Ltd, and GlaxoSmithKline.

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