According to the report Latin America Over the Counter (OTC) Drugs Market, published by Market Data Forecast, The market in Latin America region has been estimated at USD 18.44 billion in 2016 and is projected to reach USD 26.73 billion by 2021, at a CAGR of 7.71% during the forecast period from 2016 to 2021. Brazil, Mexico and Argentina are the leading contributors to the Latin America OTC drugs market
Over-the-counter (OTC) drugs are medicines sold directly to a consumer without a prescription from a healthcare professional, as compared to prescription drugs, which may be sold only to consumers possessing a valid prescription. Some drugs may be legally classified as over-the-counter (i.e.
no prescription is required), but may only be dispensed by a pharmacist after an assessment of the patient's needs or the provision of patient education.
Browse market data tables and in-depth TOC of the Latin America Over the Counter (OTC) Drugs Market to 2021 at www.marketdataforecast.com/market-…drugs-market-513/
Increasing adoption of western lifestyles and growing prosperities is leading to increase in market size and OTC demand.Promotion and marketing initiatives will be a key trend for market growth in the forecast period for this region.
The growing healthcare costs and an increase in the older population demand the need for better accessibility and affordability of healthcare services. Self-medication with non-prescription drugs play an important role in this and help in improving the accessibility and cost-benefits of healthcare services.
GlaxoSmithKline, Johnson and Johnson, Novartis, Bayer, Pfizer, Sanofi and Takeda are the leading companies that contribute to Latin America market.
Latin America Over the Counter (OTC) Drugs Market: Segmentation
- Cough, Cold and Flu Products
- Vitamins and Minerals
- Dermatological Products
- Gastrointestinal Products
- Ophthalmic Products
- Sleep Aid Products
- Weight Loss/Diet Products
By Formulation Type
- Convenience stores
- Others (Online Drug Stores)
Reasons to access Latin America Over the Counter (OTC) Drugs Market Report:
- Regional and country-level analysis and forecasts of the study market; providing Insights on the major countries/regions in which this industry is blooming and to also identify the regions that are still untapped
- Segment-level analysis in terms of technology, component, and type along with market size forecasts and estimations to detect key areas of industry growth in detail
- Identification of key drivers, restraints, opportunities, and challenges (DROC) in the market and their impact on shifting market dynamics
- Study of the effect of exogenous and endogenous factors that affect the global market; which includes broadly demographic, economics, and political, among other macro-environmental factors presented in an extensive PESTLE Analysis
- Study the micro environment factors that determine the overall profitability of an Industry, using Porter’s five forces analysis for analysing the level of competition and business strategy development
- A comprehensive list of key market players along with their product portfolio, current strategic interests, key financial information, legal issues, SWOT analysis and analyst overview to study and sustain the market environment
- Competitive landscape analysis listing out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies
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