According to IMARC Group’s latest report, titled “Latin America Generic Drug Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026”, the market is expected to exhibit strong growth during 2021-2026. A generic drug represents a drug formulation that is similar to a branded drug in terms of dosage, strength, side effects, efficiency, etc. It is developed after the patent on the original drug expires and can differ from its branded counterparts when it comes to size, shape, color, packaging, etc. Some of the common examples of generic drugs include paracetamol, amoxicillin, ofloxacin, etc. These drugs are sold at lower prices as they do not require extensive clinical studies to demonstrate their effectiveness. As a result, they are used in hospitals and pharmacies across Latin America.
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The escalating incidences of individuals with Alzheimer’s disease, osteoarthritis, rheumatoid arthritis, etc., are among the key factors driving the Latin America generic drug market. In line with this, the elevating number of patent expirations is further stimulating the market growth. Moreover, the rising investments by government bodies and NGOs in domestic drug manufacturing and healthcare infrastructures are also augmenting the regional market. Besides this, the increasing adoption of licensing and partnering strategies by leading manufacturers to launch newer versions of pharmaceutical products is acting as another significant growth-inducing factor. Additionally, the development of several product variants, such as anti-infective drugs, anti-arthritis drugs, central nervous system drugs, etc., is anticipated to fuel the Latin America generic drug market over the forecasted period. Looking forward, IMARC Group expects the global market to continue its robust growth during the forecast period (2021-2026).
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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviors of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
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:
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Key highlights of the report:
- Market Performance (2015-2020)
- Market Outlook (2021-2026)
- Market Trends
- Market Drivers and Success Factors
- Impact of COVID-19
- Value Chain Analysis
- Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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