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Latin America Pharmaceutical Products Cmo Market Analysis (2020-2027)

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Latin America Pharmaceutical Products Cmo Market Analysis (2020-2027)

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  1. Coherent Market Insights Market Research and Business Consulting Services https://www.coherentmarketinsights.com/ COVID-19 Impact Tracker

  2. LATIN AMERICA PHARMACEUTICAL PRODUCTS CMO MARKET ANALYSIS (2020-2027) • Latin America Pharmaceutical Products CMO Market, By Product Type (API and Ingredients, Finished Dosage Form, Pharmaceutical Packaging), By Country (Brazil, Mexico, Argentina, Rest of Latin America) - Size, Share, Outlook, and Opportunity Analysis, 2020 - 2027

  3. The demand for generic products is high in the pharmaceutical market in Latin America. Moreover, majority of pharmaceutical companies are gradually outsourcing manufacturing activities to contract manufacturing organizations (CMO). Statistics: Latin America Pharmaceutical Products CMO Market is estimated to account for US$ 13,266.5 Mn in terms of value by the end of 2027.

  4. Statistics: Asia Pacific held dominant position in the global microscopy devices market in 2019, accounting for 33.0% share in terms of value, followed by North America and Europe, respectively

  5. Latin America Pharmaceutical Products CMO Market: Drivers • Increasing prevalence of chronic disorders is expected to propel growth of Latin America Pharmaceutical Products CMO Market over the forecast period. For instance, according to Incidência de Câncer no Brasil, the estimated number of new cases of cancer was 600,000, excluding cases of non-melanoma skin cancer during 2018-2019 biennium, in Brazil. • Moreover, increasing vaccination drives are also expected to aid in growth of the market. For instance, in March 2020, Brazil initiated its National Flu Vaccination Campaign in three phases against influenza. The vaccine is indicated for anyone over 6 months of age, except those who have had allergic reactions at previous doses.

  6. Statistics: Brazil held dominant position in Latin America Pharmaceutical Products CMO Market in 2019, accounting for 38.6% share in terms of value, followed by Mexico and Argentina, respectively

  7. Figure 1: Latin America Pharmaceutical Products CMO Market Share (%) Value, By Region, 2019

  8. Latin America Pharmaceutical Products CMO Market: Restraints • The pharmaceutical industry in Mexico does not operate through an established system of reimbursement and there is minimal reimbursement offered outside the hospital setting. Reimbursement is limited to generic drugs, based on health technology assessment and to the under privileged population. Such scenario is expected to hinder growth of Latin America Pharmaceutical CMO Market. • Weak or ambiguity in patent laws is also expected to limit growth of the market. Different countries in Latin America have adopted different approaches for intellectual property protection. Ambiguity also prevails regarding pricing of drugs. For instance, prices of public sector pharmaceutical drugs in Latin America varied than those sold through the private sector.

  9. Latin America Pharmaceutical Products CMO Market: Opportunities • Growing medical tourism in Latin America is expected to offer lucrative growth opportunities for players in the market. For instance, according to Tourism of the Federal District, Mexico City, in 2018, Tijuana received 1.7 million patients and companions from the U.S. and Canada generating a revenue of US$ 600 million. • Moreover, integration of public and private healthcare sector in Latin America may lead to revival of a weak sector in the region, thereby aiding in growth of the market.

  10. Statistics: Latin America Pharmaceutical Products CMO Market was valued at US$ 13,266.5 Mn in 2019 and is forecast to reach a value of US$ 40,070.3 Mn by 2027 at a CAGR of 14.8% between 2020 and 2027.

  11. Figure 2: Latin America Pharmaceutical Products CMO Market Value (US$ Mn), 2016 - 2027

  12. Market Trends/Key Takeaways • Major pharmaceutical companies are focused on approval and launch of COVID-19 test kits. For instance, in February 2020, Osang Healthcare received European certification (CE-IVD) for GeneFinder, a test kit for the new coronavirus, and the company has commercialized the product in Italy, Romania, Morocco, Brazil, and Russia. • The coronavirus pandemic has adversely impacted the healthcare system in Latin America. As of May 07, 2020, there have been 26,025 confirmed cases of COVID-19 with 2,507 deaths in Mexico as reported to the World Health Organization. The lockdown implemented in several countries in Latin America is expected to have mixed impact on the market.

  13. Figure 3: Value Chain Analysis -

  14. Latin America Pharmaceutical Products CMO Market: Competitive Landscape • Major players operating in Latin America Pharmaceutical Products CMO Market include, BASF SE, Bayer AG, Boehringer Ingelheim GmbH, F. Hoffmann-La Roche Ltd., Merck & Co., Inc., Novartis AG, Pfizer, Inc., Pisa Farmacéutica, Fresenius SE & Co. KGaA, Takeda Pharmaceutical Company Limited, Ferring Pharmaceuticals, Inc., and Landsteiner Scientific.

  15. Latin America Pharmaceutical Products CMO Market: Key Developments • Major players in the market are focused on adopting partnership strategies to enhance their market share. For instance, in March 2019, Pfizer, Inc. partnered with Unión Latinoamerica Contra el Cáncer de la Mujer - Latin American Union Against Cancer of Women, to launch the personal guide “Me and Metastatic Breast Cancer”. • Major players in the market are also focused on R&D of new products to expand their product portfolio. For instance, in December 2019, FerGene, a new gene therapy company formed as an alliance between Ferring Pharmaceuticals and Blackstone Life Sciences, announced positive results from a clinical trial that assessed the efficacy of nadofaragenefiradenovec (rAd-IFN/Syn3), an investigational gene therapy, for the treatment of high-grade, Bacillus Calmette-Guérin unresponsive non-muscle invasive bladder cancer.

  16. Request Sample Report • Request Customization • Download PDF Brochure • Talk to Analyst • Buy Now Reference: https://www.coherentmarketinsights.com/market-insight/latin-america-pharmaceutical-products-cmo-market-3933

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