The Latin America generic drug market is currently witnessing strong growth. 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 negatively impacted the market. The market will recover once lockdown relaxations are introduced. Looking forward, the market is expected to continue its moderate growth during the forecast period (2021-2026).
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 region level from 2021-2026. Our report has categorized the market based on region, segment, therapy area, drug delivery and distribution channel.
Breakup by Segment:
Breakup by Therapy Area:
Breakup by Drug Delivery:
Breakup by Distribution Channel:
Breakup by Country:
The competitive landscape of the industry has also been examined along with the profiles of the key players.
REACH OUT TO US
Call us on
( US: +1-631-791-1145 )
( UK: +44-702-409-7331 )
( India: +91-120-433-0800 )
Drop us an email at