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.
Base Year
Historical Year
Forecast Year
Increasing government immunisation programmes and public health initiatives in Latin America are driving vaccine demand, particularly for childhood immunisations, influenza, and COVID-19 boosters, supporting steady market growth.
Expanding local vaccine production and strategic partnerships between global pharmaceutical firms and regional manufacturers are enhancing supply chain resilience and reducing dependency on imports.
Rising awareness of infectious diseases and improved healthcare infrastructure across Latin American countries are fostering greater vaccine adoption, with a focus on preventative care and universal immunisation coverage.
Value in USD Million
2025-2034
Latin America Vaccine Market Outlook
*this image is indicative*
Vaccines are biological preparations that stimulate the immune system to protect against infectious diseases. They contain weakened or inactivated pathogens, or genetic material, prompting an immune response without causing illness. Vaccination helps prevent diseases such as measles, influenza, polio, and COVID-19, reducing mortality and healthcare burdens globally. They can be administered via injection, oral drops, or nasal sprays. Immunisation programmes play a crucial role in public health by controlling outbreaks and achieving herd immunity. Continuous research and advancements in vaccine technology, including mRNA and recombinant vaccines, are enhancing efficacy, safety, and accessibility worldwide.
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Expanding Public Immunisation Programmes Driving Market Growth
The increasing prevalence of vector-borne diseases and government-led immunisation initiatives are key drivers of vaccine market growth in Latin America. For instance, in February 2024, Takeda Pharmaceutical announced that it would prioritise supplying its dengue vaccine, Qdenga, to Brazil’s Ministry of Health. To ensure adequate vaccine availability for individuals completing their two-dose regimen, the company suspended direct contracts with states and municipalities and restricted private sector distribution. This decision, driven by the worsening dengue epidemic, highlights the growing demand for dengue vaccines. As public health programmes expand, increased vaccine procurement will drive market growth, fostering stronger immunisation coverage in the region.
Rising government investments in national immunisation programmes and the growing burden of infectious diseases are driving the Latin America vaccine market value. For instance, in December 2023, Brazil’s Ministry of Health announced the integration of the dengue vaccine into the public Unified Health System (SUS), with vaccinations starting in February 2024. Due to limited supply from Takeda, initial distribution will target priority populations and high-risk regions. As Brazil becomes the first country to provide public access to this vaccine, increased governmental support and funding for immunisation programmes are expected to enhance market development, promoting higher vaccine adoption and strengthening Latin America's healthcare infrastructure.
The market is witnessing several trends and developments to improve the current scenario. Some of the notable trends are as follows:
Latin America Vaccine Market Report and Forecast 2025-2034 offers a detailed analysis of the market based on the following segments:
Market Breakup by Type
Market Breakup by Age Group
Market Breakup by Disease Indication
Market Breakup by Route of Administration
Market Breakup by End User
Market Breakup by Country
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Recombinant/Subunit/Conjugate Vaccines to Lead the Segment by Type
Recombinant, subunit and conjugate vaccines are expected to hold the largest market share due to their enhanced safety, strong immunogenicity, and lower risk of adverse reactions. As per the analysis by Expert Market Research, the global conjugate vaccine market is anticipated to grow at a CAGR of 11% during the forecast period of 2025-2034. In Addition, the value of the global recombinant vaccine market is expected to grow at a CAGR of 11.9% during the forecast period of 2025-2034. These vaccines are widely used in Latin America’s immunisation programmes against diseases like hepatitis, human papillomavirus (HPV), and pneumococcal infections. Advancements in biotechnology and increasing investments in vaccine development drive their adoption. Additionally, growing awareness and rising government initiatives for immunisation coverage further fuel market expansion. As Latin America continues to modernise its vaccine portfolio, recombinant/subunit/conjugate vaccines will dominate, ensuring broader protection and driving significant growth in the forecast period.
Adults to Dominate the Latin America Vaccine Market Segmentation by Age Group
The adult segment is poised to lead the market, driven by increasing demand for vaccines against influenza, HPV, hepatitis, and pneumococcal diseases. As per the analysis by Expert Market Research, the human papillomavirus (HPV) vaccine market is expected to grow at a CAGR of 11.60% during the forecast period 2025-2034. Furthermore, the global influenza vaccine market is anticipated to grow at a CAGR of 7.3% during the forecast period of 2025-2034. Rising awareness of adult immunisation, coupled with government-backed vaccination campaigns, boosts market growth. The ageing population and growing prevalence of chronic diseases make adult vaccinations essential for disease prevention. Additionally, corporate and occupational immunisation programmes are expanding, further increasing demand. While paediatric vaccinations remain crucial, the rising focus on adult immunisation due to changing disease patterns ensures this segment’s dominance, making it a key driver for market expansion in the coming years.
Viral Diseases to Hold a Significant Latin America Vaccine Market Value for Segmentation by Disease Indication
Viral diseases are expected to hold the largest market share fuelled by the high prevalence of influenza, HPV, hepatitis, and rotavirus infections. As per the analysis by Expert Market Research, the hepatitis B vaccine market is expected to grow at a CAGR of 4.8% during the forecast period of 2025-2034. The region has witnessed increasing government initiatives for mass immunisation campaigns to combat viral outbreaks, particularly in densely populated areas. The development and rapid adoption of innovative vaccines, such as mRNA-based COVID-19 vaccines, have further accelerated market growth. With continuous advancements in viral vaccine technology and growing investments in research, the demand for effective viral disease prevention measures will sustain this segment’s leadership, shaping the vaccine market’s future trajectory.
Parenteral Route to Dominate the Latin America Vaccine Market by Route of Administration
The parenteral route is expected to dominate the market due to its superior efficacy in triggering a strong immune response. Injectable vaccines, including those for influenza, hepatitis, and HPV, are widely administered through this route, ensuring precise dosing and high bioavailability. The growing adoption of combination vaccines and increasing government-led immunisation initiatives contribute to its market share. While oral vaccines remain essential for diseases like rotavirus and polio, the reliability and effectiveness of parenteral administration in delivering long-lasting immunity make it the preferred choice, reinforcing its leadership in the vaccine market.
Government Suppliers to Lead the Latin America Vaccine Market Share by End User
Government suppliers are set to dominate the market, as national immunisation programmes account for the majority of vaccine distribution. Public health initiatives, subsidised vaccination schemes, and collaborations with global health organisations such as the WHO and PAHO drive market growth. Large-scale procurement by government bodies ensures widespread immunisation coverage, particularly in rural and underserved areas. While retail pharmacies and hospitals play a role in vaccine distribution, government-led initiatives remain the backbone of Latin America’s vaccination strategy. This strong public sector involvement ensures continued market expansion, improving accessibility and immunisation rates across the region.
Latin America Vaccine Market Analysis by Region
Brazil is expected to hold the largest market share in the Latin America vaccine industry, driven by its strong biopharmaceutical infrastructure, extensive immunisation programmes, and robust government support. Institutes like the Butantan Institute and Fiocruz play a pivotal role in local vaccine production, reducing reliance on imports and ensuring affordability. The country’s high healthcare spending, large population, and established partnerships with global vaccine manufacturers further strengthen its market position. Meanwhile, Mexico and Argentina are emerging as key players due to increasing investments in biomanufacturing, while smaller nations are focusing on expanding immunisation coverage. As Brazil continues advancing vaccine research and production, it is set to lead regional market growth, with other nations contributing to expanding vaccine accessibility.
The key features of the market report comprise patent analysis, grants analysis, funding and investment analysis, and strategic initiatives by the leading players. The major companies in the market are as follows:
Founded in 1849 and headquartered in New York, USA, Pfizer Inc. is a leading global pharmaceutical company with a strong presence in the market. The company develops and manufactures innovative vaccines for infectious diseases, including pneumococcal disease, COVID-19, and meningococcal infections. Pfizer played a crucial role in Latin America’s COVID-19 immunisation efforts through its mRNA-based Comirnaty vaccine, developed in partnership with BioNTech. With continued investments in research and production, Pfizer remains a key player in advancing vaccine accessibility and innovation across the region, addressing emerging health challenges with cutting-edge immunisation solutions.
Established in 1901 and headquartered in São Paulo, Brazil, the Butantan Institute is a leading biomedical research centre and vaccine manufacturer in Latin America. It plays a crucial role in Brazil’s immunisation programmes, producing vaccines for diseases such as influenza, dengue, and COVID-19. The institute collaborates with international pharmaceutical firms to enhance vaccine production and distribution. Its extensive research in virology and biotechnology has positioned it as a key driver of vaccine innovation and public health initiatives, ensuring widespread immunisation coverage and strengthening Latin America's vaccine security.
Founded in 2008 and headquartered in Mainz, Germany, BioNTech is a biotechnology company specialising in mRNA-based vaccines and immunotherapies. It gained global recognition for co-developing the Comirnaty COVID-19 vaccine with Pfizer, significantly impacting Latin America's vaccination efforts. The company focuses on innovative vaccine development for infectious diseases and personalised cancer therapies. BioNTech continues to expand its vaccine portfolio through cutting-edge research and collaborations, aiming to introduce next-generation immunisation solutions in Latin America, addressing public health challenges with advanced biotechnological approaches.
Sanofi Pasteur, the vaccines division of Sanofi, was founded in 1907 and is headquartered in Lyon, France. It is a major player in the market, supplying vaccines for diseases such as influenza, polio, and yellow fever. The company actively supports immunisation programmes across the region, enhancing disease prevention through its broad vaccine portfolio. Sanofi Pasteur invests in research and development to introduce innovative vaccines, ensuring high-quality immunisation solutions for Latin American populations. Its commitment to global health positions it as a leader in combating infectious diseases through advanced vaccination strategies.
*Please note that this is only a partial list; the complete list of key players is available in the full report. Additionally, the list of key players can be customized to better suit your needs.*
Other key players in the market include GlaxoSmithKline, AstraZeneca, Moderna, Inc., Eurofarma Laboratórios SA, Sinergium Biotech (Argentina), and Beep Saúde (Brazil).
Latin America Vaccine Market Size
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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In 2024, the Latin America market for vaccines attained a value of nearly USD 5.59 billion.
The market is projected to grow at a CAGR of 7.2% between 2025 and 2034.
The market is estimated to witness a healthy growth in the forecast period of 2025-2034 to reach USD 10.41 billion by 2034.
The major drivers of the Latin America vaccine market include the growing consumer awareness of the benefits of vaccines, improvements in healthcare infrastructure, and rising initiatives by both public and private organisations.
The increased prevalence of various infectious illnesses and growing research and development efforts for new vaccines are the key trends propelling the growth of the market.
The various technologies of vaccines in the market are recombinant and conjugate vaccine, inactivated vaccines, live attenuated vaccines, and toxoid vaccines, among others.
The major countries in the market are Brazil, Argentina, and Mexico.
Vaccines include a harmless form of the bacteria or virus that causes the illness that patients are immunised against, protecting them from the full effects of the illness.
The most well-known example of a highly effective vaccination is smallpox immunisation with vaccinia virus.
The major players in the market are GlaxoSmithKline plc, Novartis AG, Pfizer Laboratories Ltd, Sanofi, and AstraZeneca plc., among others.
Explore our key highlights of the report and gain a concise overview of key findings, trends, and actionable insights that will empower your strategic decisions.
| REPORT FEATURES | DETAILS |
| Base Year | 2024 |
| Historical Period | 2018-2024 |
| Forecast Period | 2025-2034 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Type |
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| Breakup by Age Group |
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| Breakup by Disease Indication |
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| Breakup by Route of Administration |
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| Breakup by End User |
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| Breakup by Country |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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Australia
63 Fiona Drive, Tamworth, NSW
+61-448-061-727
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-723-689-1189
Philippines
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+63-287-899-028, +63-967-048-3306
United Kingdom
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+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84-865-399-124
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