The Latin America vaccine market was valued at USD 4472.01 Million in 2024, driven by the continuous development of vaccines by the pharmaceutical companies across the region. The market is anticipated to grow at a CAGR of 5.10% during the forecast period of 2025-2034 to achieve a value of USD 7354.11 Million by 2034.

The revenue of the vaccines segment of the pharmaceuticals market in Latin America was forecast to continuously increase between 2024 and 2028 by in total *** billion U.S. dollars (+*** percent). According to this forecast, in 2028, the indicator will have increased for the third consecutive year to *** billion U.S. dollars.

The Latin America FMD vaccine market size reached USD 763.2 Million in 2024. Looking forward, IMARC Group expects the market to reach USD 1,290.1 Million by 2033, exhibiting a growth rate (CAGR) of 5.71% during 2025-2033.

IMARC Group provides an analysis of the key trends in each segment of the Latin America FMD vaccine market report, along with forecasts at the regional and country levels from 2025-2033. Our report has categorized the market based on animal type, vaccine type and distribution channel.

As of August 13, 2024 most Latin American and Caribbean countries had started the COVID-19 vaccination process. While Brazil had administered around 486 million doses of the vaccine, Mexico had applied approximately 223 million doses. For further information about the coronavirus (COVID-19) pandemic, please visit our dedicated Facts and Figures page.

Learn about the increasing demand for vaccines in Latin America and the Caribbean, as the market is expected to grow significantly over the next decade. With a projected CAGR of +1.6% in volume and +2.6% in value, the market is set to reach 6.1K tons and $5.2B by 2035 respectively.

By August 2024, Cuba had administered the largest number of vaccines against COVID-19 per 100 inhabitants in the Latin American region, followed by Chile and Peru. According to recent estimates, the Caribbean country applied around 410 doses per 100 population, accounting for one of the largest vaccination rates observed not only in the Latin American region, but worldwide. In comparison, Haiti registered the lowest vaccination rate within the region, with only 5.87 doses administered per 100 inhabitants. Booster shots started To reinforce the immune protection against the fast spread of the SARS-CoV-2, governments began to introduce booster shots in their immunization programs aiming at strengthening people’s immune response against new contagious COVID-19 variants. In Latin America, Cuba was leading on booster shots relative to its population among a selection of countries, with around 88 percent of the population receiving the extra dose. In comparison, these numbers are higher than those for the European Union and the United States. Pharmaceutical research continues As Omicron becomes more prominent worldwide, and recombinant variants emerge, research efforts to prevent and control the disease continue to progress. As of June 2022, there were around 2,700 clinical trials to treat COVID-19 and 1,752 COVID-19 vaccines trials in clinical development. Other studies were focused on mild, moderate and severe COVID-19, complication support, and post-COVID symptoms, among others.For further information about the coronavirus (COVID-19) pandemic, please visit our dedicated Facts and Figures page.

Latin America Bcg Vaccine Market is expected to grow during 2025-2031

In Latin America Aquaculture Vaccines Market, offering valuable insights, key market trends, competitive landscape, and future outlook to support strategic decision.

Latin America's Human Papillomavirus Vaccine market will be USD 216.26 million in 2024 and is estimated to grow at a compound annual growth rate (CAGR) of 12.6% from 2024 to 2031. The market is foreseen to reach USD 546.0 million by 2031 due to increasing awareness among the patient population of the advantages of HPV immunization.

Latin America Pediatric Vaccines Market growth is driven by increasing demand for vaccines, government support for immunization programs, and technological advancements in vaccine formulations and delivery systems.

The market size for veterinary vaccines in Latin America reached a value of more than USD 400.77 Million in 2024. The Latin America veterinary vaccines market is expected to grow at a CAGR of 6.50% between 2025 and 2034, reaching a value of USD 752.30 Million by 2034.

As of December 23, 2022, Chile was the country that administered the highest number of COVID-19 vaccine booster shots per 100 population in Latin America and the Caribbean, with around 143.4 doses per hundred inhabitants. Peru and Uruguay followed, having applied around 84.7 and 82.3 booster shots per 100 people against COVID-19, respectively. Moreover, nearly 95 percent of the Chilean population received at least one dose of the COVID-19 vaccine as of December 23, 2022. For further information about the coronavirus (COVID-19) pandemic, please visit our dedicated Facts and Figures page.

In 2024, the Latin American vaccine market decreased by -12.2% to $3.9B, falling for the third year in a row after six years of growth. Overall, consumption saw measured growth. As a result, consumption reached the peak level of $8.7B. From 2022 to 2024, the growth of the market remained at a somewhat lower figure.

Latin America Veterinary-Animal Vaccines Market is expanding as animal disease outbreaks become more frequent, and the focus on animal welfare and public health intensifies.

Non Invasive Vaccine Market Outlook

The global non-invasive vaccine market size is projected to grow significantly from USD 3.5 billion in 2023 to USD 9.8 billion by 2032, reflecting a compound annual growth rate (CAGR) of approximately 12.4%. This impressive growth can be attributed to several factors, including technological advancements, increasing demand for painless vaccination methods, and rising awareness of the benefits of non-invasive vaccines. These factors, combined with the ongoing efforts to improve vaccine accessibility and compliance, are set to drive the market forward over the forecast period.

One of the key growth factors for the non-invasive vaccine market is the increasing prevalence of infectious diseases. The rise in global travel, urbanization, and climate change has led to the resurgence and spread of infectious diseases, which necessitates effective vaccination programs. Non-invasive vaccines, such as microneedle patches and nasal sprays, offer a safer and more comfortable alternative to traditional needle-based vaccines. This has resulted in higher vaccination rates, especially among populations that are needle-phobic or have limited access to healthcare facilities.

Additionally, technological advancements play a crucial role in the growth of the non-invasive vaccine market. Innovations in microneedle patch technology, for instance, have allowed for more efficient and painless delivery of vaccines. Research and development efforts are focused on improving the efficacy and stability of these vaccines, making them more accessible to diverse populations. Moreover, advancements in biotechnology and nanotechnology are paving the way for the development of novel non-invasive vaccine delivery systems, which are expected to further propel market growth.

The market is also driven by the increasing awareness of the benefits of non-invasive vaccines. Governments and healthcare organizations are actively promoting vaccination programs to control the spread of infectious diseases. Educational campaigns highlighting the advantages of non-invasive vaccines, such as reduced pain, ease of administration, and decreased risk of infection, have led to greater acceptance among the public. This growing awareness is anticipated to boost the demand for non-invasive vaccines, particularly in regions with low vaccination rates.

From a regional perspective, North America is expected to dominate the non-invasive vaccine market, owing to the presence of advanced healthcare infrastructure and high healthcare expenditure. Europe follows closely, with significant investments in vaccine research and development. The Asia Pacific region is projected to witness the highest growth rate, driven by increasing healthcare awareness, rising disposable incomes, and government initiatives to improve vaccination coverage. In contrast, regions like Latin America and the Middle East & Africa are gradually catching up, with efforts to enhance healthcare access and infrastructure.

Technology Analysis

The technology segment of the non-invasive vaccine market includes microneedle patches, nasal sprays, oral vaccines, jet injectors, and other emerging technologies. Each of these technologies offers unique advantages and is tailored to specific applications and target populations. Microneedle patches, for instance, have gained considerable attention due to their ease of use and potential to improve vaccine stability. These patches consist of tiny needles that dissolve into the skin, delivering the vaccine without causing pain. This technology is particularly beneficial for mass vaccination programs and self-administration, as it does not require trained healthcare professionals.

Nasal sprays represent another promising technology in the non-invasive vaccine market. These sprays deliver the vaccine directly into the nasal mucosa, triggering an immune response. Nasal vaccines are particularly effective for respiratory infections, such as influenza and COVID-19, as they target the entry point of the virus. The ease of administration and rapid onset of immunity make nasal sprays a popular choice for both pediatric and adult populations. Ongoing research is focused on enhancing the efficacy and shelf-life of nasal vaccines, which is expected to drive their adoption in the coming years.

Oral vaccines are also gaining traction in the non-invasive vaccine market. These vaccin

• The global industry was valued at US$ 21.7 Bn in 2023
• It is projected to grow at a CAGR of -4.3% from 2023 to 2034 and reach more than US$ 9.6 Bn by the end of 2034

Market Introduction

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South America Chicken Vaccines market of more than 5% of the global revenue with a market size of USD XX million in 2023 and will grow at a CAGR of 7.4% from 2023 to 2030.

Explore the growing market for veterinary vaccines in Latin America and the Caribbean, projected to continuously rise over the next decade. Anticipated growth in both volume and value terms is expected, with a forecasted CAGR of +0.8% in volume and +1.6% in value from 2024 to 2035.

Latin America Therapeutic Vaccines Market is poised for substantial growth, driven by technological advancements, increasing incidences of chronic diseases.