Latin America’s Pharmaceutical Market Growing by 9% a Year

In other recent stories we have forecast that 2018 will feature strong growth in Latin America’s healthcare market, particularly when it comes to medical equipment and device sales in Latin America. However, one key growth area we haven’t explored as much is the Latin American pharmaceutical market.

And the current indicators suggest the LatAm pharma market is expanding significantly. According to recent projections, the compound annual growth rate (CAGR) for the Latin American pharmaceuticals market for the first half of the forecast period — between 2018 and 2028 — is projected to be 9.3%. Similarly, the over-the-counter pharmaceuticals market in Latin America is also showing strong growth, with a projected CAGR of 8.64% between 2016 and 2022.

Growth in Key LatAm Markets

In Latin America, the pharmaceutical industry is notoriously hard to project, as the same data points are not available as they are in nations like the United States. But nevertheless, all the signs point to a strong market and bullish growth, particularly in key areas such as Brazil, Argentina, Mexico and Colombia. Since those are the areas with the strongest data available, let’s take a closer look at the numbers for these key regions.

Brazil

Brazil is not only one of the biggest pharmaceutical markets in Latin America, but the entire world. Recent growth projections have led them to become a major player on the world stage in the last few years.

​HAPPY WITH YOUR SALES?

Argentina

While much of Brazil’s economy has been surging in recent years, Argentina has been in recovery mode, and the pharmaceutical industry is no different in this regard.

Mexico

Much like Brazil, Mexico is a major pharmaceutical player not only in Latin America, but the entire world. Many projections point to the country making big gains in the years ahead.

​Real prospects, real fast

Colombia

Though not as large overall as some of the other LatAm markets, Colombia is unique in that it has big-time growth potential in upcoming years. Its growth is projected to be near the top for all Latin American nations.

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Global Health Intelligence’s research team can help Latin American pharmaceutical companies by offering an impartial third party assessment to help with strategic direction, including market share research for the LatAm pharma market, competitive intelligence for Latin America’s pharmaceutical market, market intelligence to size markets for specific products in Latin America, whether prescription or OTC, as well as other key insights to help companies grow in Latin America while strategically mitigating risks and threats.

Contact us to learn more about how we can answer your strategic questions and provide guidance to map the way forward throughout Latin America or in specific markets.

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