The Latin America generic drug market is expected to exhibit strong growth during 2021-2026. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic. These insights are included in the report as a major market contributor.
Generic drugs are bioequivalent of innovator drugs in terms of dosage, risks, strength, side effects and intended usage. These drugs can differ from their branded counterparts in size, color, shape and packaging. They are sold at lower prices as they do not require investments in clinical studies to demonstrate the effectiveness of the medicine. Consequently, the demand for generic drugs is rising in the Latin American region.
The significant pediatric population, along with the increasing number of individuals who have Alzheimer’s disease, osteoarthritis, and rheumatoid arthritis, represents one of the key factors propelling the growth of the generic drug market in the Latin American region. Moreover, governing authorities in the region are investing in the healthcare sector, which is contributing to the market growth. Other factors, such as the burgeoning pharmaceutical industry and inflating income levels of individuals, are driving the market further. However, the recent outbreak of the coronavirus disease (COVID-19) pandemic and the imposition of lockdown restrictions have halted the production of generic drugs, which has impacted the market. The market will recover once lockdown relaxations are introduced.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the Latin America generic drug market report, along with forecasts for growth at the regional and country level from 2021-2026. Our report has categorized the market based on segment, therapy area, drug delivery and distribution channel.
Breakup by Segment:
- Unbranded Generics
- Branded Generics
Breakup by Therapy Area:
- Central Nervous System
Breakup by Drug Delivery:
Breakup by Distribution Channel:
- Retail Pharmacies
- Hospital Pharmacies
Breakup by Country:
The competitive landscape of the industry has also been examined along with the profiles of the key players.
|Base Year of the Analysis
||Segment, Therapy Area, Drug Delivery, Distribution Channel, Country
||Brazil, Mexico, Argentina, Colombia, Chile, Peru, Others
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Key Questions Answered in This Report:
- How has the Latin America generic drug market performed so far and how will it perform in the coming years?
- What has been the impact of COVID-19 on the Latin America generic drug market?
- What are the key regional markets?
- What is the breakup of the market based on the segment?
- What is the breakup of the market based on the therapy area?
- What is the breakup of the market based on the drug delivery?
- What is the breakup of the market based on the distribution channel?
- What are the various stages in the value chain of the industry?
- What are the key driving factors and challenges in the industry?
- What is the structure of the Latin America generic drug market and who are the key players?
- What is the degree of competition in the industry?