According to the latest IMARC Group report, entitled âGeneric Drugs Market in Latin America: Industry Trends, Share, Size, Growth, Opportunities and Forecast 2021-2026“, the Latin America Generic Drugs Market Expected to Show High Growth in the Period 2021-2026Generic drugs are identical to brand name drugs and generally have therapeutic effects equivalent to pharmaceutical specialties. Since they contain the same active ingredients, they are identical in terms of quality, route of administration, dosage and side effects. On top of that, they are cost effective because they don’t include clinical trials and the cost of research. However, they require prior authorization from regulatory authorities after the patent expiration of brand-name drugs in order to market their products.
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The market in Latin America is mainly driven by the significant growth of the pharmaceutical industry. At the same time, the increasing prevalence of chronic diseases in individuals, such as Alzheimer’s disease, rheumatoid arthritis and osteoarthritis, is driving the sales of generic drugs in the region. In addition, the increasing investments by the government of several countries in the region to modernize their existing health infrastructure and promote the production of generic drugs are positively influencing the growth of the market. Some of the other factors contributing to the growth of the market in the region include the increase in the geriatric population and the expiration of the patents of several successful drugs. Looking ahead, IMARC Group expects the global market to continue its robust growth during the forecast period (2021-2026)
As the novel coronavirus (COVID-19) crisis takes over the world, we are constantly monitoring changes in the markets, as well as the industrial behaviors of consumers around the world and our estimates on the latest market trends and forecasts are made afterwards. examining the impact of this pandemic.
Breakdown by segment:
- Unbranded generics
- Brand generics
Breakage by therapy zone:
- Central nervous system
- Genitourinary / Hormonal
Breakdown by drug delivery:
- Dermal / Topical
Breakdown by distribution channel:
- Retail pharmacies
- Hospital pharmacies
Breakdown by country:
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Highlights of the report:
- Market performance (2015-2020)
- Market Outlook (2021-2026)
- Market trends
- Market drivers and success factors
- The impact of COVID-19 on the global market
- Value chain analysis
- Global market structure
- Complete 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 part of the customization.
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