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Latin America Generic Drugs Market Size, Share, Analysis: By Therapy Area: Cardiovascular, Dermatology, Respiratory, Oncology, Rheumatology, Others; By Route of Administration: Oral, Injectables, Dermal/Topical, Inhalers, Others; by Distribution Channels: Hospital Pharmacy, Others; Regional Analysis; Supplier Landscape; 2024-2032
Latin America Generic Drugs Market Size
The Latin America generic drugs market was valued at USD 36.1 billion in 2023, driven by increasing government initiatives to stimulate production and improve access to generic drugs in the region. The market is expected to grow at a CAGR of 6.33% during the forecast period of 2024-2032, with the values likely to rise from USD 38.4 billion in 2024 to USD 62.7 billion by 2032.
Latin America Generic Drugs Market Outlook
- The market share is influenced by the rising government initiatives that aim at increasing access, reducing costs, and addressing shortages of generic drugs. For example, the Brazilian government has incorporated publicly funded production of generic medications as a key part of its national public health strategy.
- One of the major Latin America generic drugs market trends is the surge in strategic collaborations among the key market players. For instance, in October 2023, EuroPharma Inc., completed its acquisition of Colombia-based generic pharmaceutical company Genfar, making it the unified brand for generic medications in Latin America excluding Brazil to reinforce its consolidation and internationalization strategy.
- The growing burden of chronic diseases and increasing patent expiration of branded medications is expected to propel the market growth in the forecast period.
Latin America Generic Drugs Market Analysis
Generic drugs use the same active ingredient and offer a similar therapeutic effect as their brand-name drugs. They don’t need to go through expensive clinical studies to establish their efficacy and safety and thus typically cost less than their brand-name counterparts. The increasing demand for generic drugs in Latin American countries presents attractive growth opportunities for global generic drug manufacturers, especially as these economies are less saturated compared to North American or European markets. The rising penetration of international players in the region not only supports the global generic drug market expansion but also facilitates the introduction of a broad range of high-quality and cost-effective generic medications in the healthcare system. Further, the growing burden of chronic diseases and increasing patent expiration of branded medications is expected to accelerate the Latin America generic drugs market growth.
The market is witnessing increased merger and acquisition activities among the key market players to enhance their technological capabilities and expand market reach. In October 2023, a multinational pharmaceutical company EuroPharma Inc., completed its acquisition of Colombia-based generic pharmaceutical company Genfar, making it the unified brand for generic medications in Latin America excluding Brazil. With this acquisition, EuroPharma took the second position in retail sales in Latin America and further reinforced its consolidation and internationalization strategy. Such partnerships are likely to improve the access and use of generic medications and are anticipated to augment market demand.
The Latin America generic drugs market share is influenced by the rising government initiatives that aim at increasing access, reducing costs, and addressing shortages of generic drugs. For instance, the Brazilian government has incorporated publicly funded production of generic medications as a key part of its national public health strategy, which is poised to ease access of generic drugs in the region. Additionally, in March 2024, a national public health foundation in Brazil, Fundação Oswaldo Cruz (Fiocruz) struck an agreement with pharmaceutical company Boehringer Ingelheim, allowing the foundation to manufacture generic empagliflozin, a diabetes drug known by the brand name Jardiance, for distribution in Brazil’s public health system. Such initiatives are likely to ensure generic medication supply security and also bolster market growth.
Latin America Generic Drugs Market Segmentation
The report offers a detailed analysis of the market based on the following segments:
| Market Breakup | Categories |
| Therapy Area | Cardiovascular, Dermatology, Respiratory, Oncology, Rheumatology, Others |
| Route of Administration | Oral, Injectables, Dermal/Topical, Inhalers, Others |
| Distribution Channels | Hospital Pharmacy, Retail Pharmacy, Online Pharmacy, Others |
| Country | Brazil, Mexico, Others |
Leading Players in the Latin America Generic Drugs Market
The key features of the market report include patent analysis, grants analysis, funding and investment analysis, partnerships, and collaborations analysis by the leading key players. The major companies in the market are as follows:
- Teva Pharmaceutical Industries Ltd
- Viatris Inc.
- Sun Pharmaceutical Industries Ltd
- Lupin
- AstraZeneca
- Baxter
- Takeda Pharmaceutical Company Limited
- GSK plc
- Bausch + Lomb
- Novartis AG
- Sanofi
- Pfizer Inc.
- Fresenius SE & Co. KGaA
- Aurobindo Pharma
Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2017-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Therapy Area |
|
| Breakup by Route of Administration |
|
| Breakup by Distribution Channels |
|
| Breakup by Region |
|
| Market Dynamics |
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| Supplier Landscape |
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| Companies Covered |
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Latin America Generic Drugs Market Report Snapshots
Latin America Generic Drugs Market Size
Latin America Generic Drugs Market Analysis
Latin America Generic Drugs Companies
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.
1 Preface
1.1 Objectives of the Study
1.2 Key Assumptions
1.3 Report Coverage – Key Segmentation and Scope
1.4 Research Methodology
2 Executive Summary
3 Latin America Generic Drugs Market Overview
3.1 Latin America Generic Drugs Market Historical Value (2017-2023)
3.2 Latin America Generic Drugs Market Forecast Value (2024-2032)
4 Latin America Generic Drugs Market Landscape*
4.1 Latin America Generic Drugs: Developers Landscape
4.1.1 Analysis by Year of Establishment
4.1.2 Analysis by Company Size
4.1.3 Analysis by Region
4.2 Latin America Generic Drugs: Product Landscape
4.2.1 Analysis by Therapy Area
4.2.2 Analysis by Route of Administration
4.2.3 Analysis by Distribution Channels
5 Latin America Generic Drugs Market Dynamics
5.1 Market Drivers and Constraints
5.2 SWOT Analysis
5.2.1 Strengths
5.2.2 Weaknesses
5.2.3 Opportunities
5.2.4 Threats
5.3 Porter’s Five Forces Model
5.3.1 Bargaining Power of Suppliers
5.3.2 Bargaining Power of Buyers
5.3.3 Threat of New Entrants
5.3.4 Threat of Substitutes
5.3.5 Degree of Rivalry
5.4 Key Demand Indicators
5.5 Key Price Indicators
5.6 Industry Events, Initiatives, and Trends
5.7 Value Chain Analysis
6 Latin America Generic Drugs Market Segmentation (2017-2032)
6.1 Latin America Generic Drugs Market (2017-2032) by Therapy Area
6.1.1 Market Overview
6.1.2 Cardiovascular
6.1.3 Dermatology
6.1.4 Respiratory
6.1.5 Oncology
6.1.6 Rheumatology
6.1.7 Others
6.2 Latin America Generic Drugs Market (2017-2032) by Route of Administration
6.2.1 Market Overview
6.2.2 Oral
6.2.3 Injectables
6.2.4 Dermal/Topical
6.2.5 Inhalers
6.2.6 Others
6.3 Latin America Generic Drugs Market (2017-2032) by Distribution Channels
6.3.1 Market Overview
6.3.2 Hospital Pharmacy
6.3.3 Retail Pharmacy
6.3.4 Online Pharmacy
6.3.5 Others
6.4 Latin America Generic Drugs Market (2017-2032) by Country
6.4.1 Market Overview
6.4.2 Brazil
6.4.3 Mexico
6.4.4 Others
7 Brazil Generic Drugs Market Segmentation (2017-2032)
7.1 Brazil Generic Drugs Market (2017-2032) by Therapy Area
7.1.1 Market Overview
7.1.2 Cardiovascular
7.1.3 Dermatology
7.1.4 Respiratory
7.1.5 Oncology
7.1.6 Rheumatology
7.1.7 Others
7.2 Brazil Generic Drugs Market (2017-2032) by Route of Administration
7.2.1 Market Overview
7.2.2 Oral
7.2.3 Injectables
7.2.4 Dermal/Topical
7.2.5 Inhalers
7.2.6 Others
8 Mexico Generic Drugs Market Segmentation (2017-2032)
8.1 Mexico Generic Drugs Market (2017-2032) by Therapy Area
8.1.1 Market Overview
8.1.2 Cardiovascular
8.1.3 Dermatology
8.1.4 Respiratory
8.1.5 Oncology
8.1.6 Rheumatology
8.1.7 Others
8.2 Mexico Generic Drugs Market (2017-2032) by Route of Administration
8.2.1 Market Overview
8.2.2 Oral
8.2.3 Injectables
8.2.4 Dermal/Topical
8.2.5 Inhalers
8.2.6 Others
9 Regulatory Framework
9.1 Regulatory Overview
9.1.1 ANVISA Brazil
9.1.2 COFEPRIS Mexico
10 Patent Analysis
10.1 Analysis by Type of Patent
10.2 Analysis by Publication year
10.3 Analysis by Issuing Authority
10.4 Analysis by Patent Age
10.5 Analysis by CPC Analysis
10.6 Analysis by Patent Valuation
10.7 Analysis by Key Players
11 Grants Analysis
11.1 Analysis by Year
11.2 Analysis by Amount Awarded
11.3 Analysis by Issuing Authority
11.4 Analysis by Grant Housing Material
11.5 Analysis by Funding Institute
11.6 Analysis by Departments
11.7 Analysis by Recipient Organization
12 Funding and Investment Analysis
12.1 Analysis by Funding Instances
12.2 Analysis by Type of Funding
12.3 Analysis by Funding Amount
12.4 Analysis by Leading Players
12.5 Analysis by Leading Investors
12.6 Analysis by Geography
13 Partnership and Collaborations Analysis
13.1 Analysis by Partnership Instances
13.2 Analysis by Type of Partnership
13.3 Analysis by Leading Players
13.4 Analysis by Geography
14 Supplier Landscape
14.1 Market Share by Top 5 Companies
14.2 Teva Pharmaceutical Industries Ltd
14.2.1 Financial Analysis
14.2.2 Product Portfolio
14.2.3 Demographic Reach and Achievements
14.2.4 Mergers and Acquisitions
14.2.5 Certifications
14.3 Viatris Inc.
14.3.1 Financial Analysis
14.3.2 Product Portfolio
14.3.3 Demographic Reach and Achievements
14.3.4 Mergers and Acquisitions
14.3.5 Certifications
14.4 Sun Pharmaceutical Industries Ltd
14.4.1 Financial Analysis
14.4.2 Product Portfolio
14.4.3 Demographic Reach and Achievements
14.4.4 Mergers and Acquisitions
14.4.5 Certifications
14.5 Lupin
14.5.1 Financial Analysis
14.5.2 Product Portfolio
14.5.3 Demographic Reach and Achievements
14.5.4 Mergers and Acquisitions
14.5.5 Certifications
14.6 AstraZeneca
14.6.1 Financial Analysis
14.6.2 Product Portfolio
14.6.3 Demographic Reach and Achievements
14.6.4 Mergers and Acquisitions
14.6.5 Certifications
14.7 Baxter
14.7.1 Financial Analysis
14.7.2 Product Portfolio
14.7.3 Demographic Reach and Achievements
14.7.4 Mergers and Acquisitions
14.7.5 Certifications
14.8 Takeda Pharmaceutical Company Limited
14.8.1 Financial Analysis
14.8.2 Product Portfolio
14.8.3 Demographic Reach and Achievements
14.8.4 Mergers and Acquisitions
14.8.5 Certifications
14.9 GSK plc
14.9.1 Financial Analysis
14.9.2 Product Portfolio
14.9.3 Demographic Reach and Achievements
14.9.4 Mergers and Acquisitions
14.9.5 Certifications
14.10 Bausch + Lomb
14.10.1 Financial Analysis
14.10.2 Product Portfolio
14.10.3 Demographic Reach and Achievements
14.10.4 Mergers and Acquisitions
14.10.5 Certifications
14.11 Novartis AG
14.11.1 Financial Analysis
14.11.2 Product Portfolio
14.11.3 Demographic Reach and Achievements
14.11.4 Mergers and Acquisitions
14.11.5 Certifications
14.12 Sanofi
14.12.1 Financial Analysis
14.12.2 Product Portfolio
14.12.3 Demographic Reach and Achievements
14.12.4 Mergers and Acquisitions
14.12.5 Certifications
14.13 Pfizer Inc.
14.13.1 Financial Analysis
14.13.2 Product Portfolio
14.13.3 Demographic Reach and Achievements
14.13.4 Mergers and Acquisitions
14.13.5 Certifications
14.14 Fresenius SE & Co. KGaA
14.14.1 Financial Analysis
14.14.2 Product Portfolio
14.14.3 Demographic Reach and Achievements
14.14.4 Mergers and Acquisitions
14.14.5 Certifications
14.15 Aurobindo Pharma
14.15.1 Financial Analysis
14.15.2 Product Portfolio
14.15.3 Demographic Reach and Achievements
14.15.4 Mergers and Acquisitions
14.15.5 Certifications
15 Latin America Generic Drugs Market – Distribution Model (Additional Insight)
15.1 Overview
15.2 Potential Distributors
15.3 Key Parameters for Distribution Partner Assessment
16 Key Opinion Leaders (KOL) Insights (Additional Insight)
17 Company Competitiveness Analysis (Additional Insight)
17.1 Very Small Companies
17.2 Small Companies
17.3 Mid-Sized Companies
17.4 Large Companies
17.5 Very Large Companies
18 Payment Methods (Additional Insight)
18.1 Government Funded
18.2 Private Insurance
18.3 Out-of-Pocket
*Additional insights provided are customisable as per client requirements.
* The coverage of the Market Landscape section depends on the data availability and may cover a minimum of 80% of the total market. The EMR team strives to make this section as comprehensive as possible.
Key Questions Answered in the Report
The market attained a value of about USD 36.1 billion in 2023 driven by increasing government initiatives to stimulate production and improve access to generic drugs in the region.
The market is anticipated to grow at a CAGR of 6.33% during the forecast period of 2024-2032, likely to reach a market value of USD 62.7 billion by 2032.
The increasing healthcare needs and rising patient expirations are fuelling the market demand.
One of the significant trends in the market is the rise in strategic partnerships among the key market players. In October 2023, EuroPharma Inc., completed its acquisition of Colombia-based generic pharmaceutical company Genfar to reinforce its consolidation and internationalization strategy.
Based on the therapy area, the market is segmented into cardiovascular, dermatology, respiratory, oncology, and rheumatology, among others.
By route of administration, the market is divided into oral, injectables, dermal/topical, and inhalers, among others.
The distribution channels of the market are hospital pharmacies, retail pharmacies, and online pharmacies, among others.
The market segmentation by countries includes Brazil, and Mexico, among others.
The key players in the market are Teva Pharmaceutical Industries Ltd., Viatris Inc., Sun Pharmaceutical Industries Ltd., Lupin, AstraZeneca, Baxter, Takeda Pharmaceutical Company Limited, GSK plc, Bausch + Lomb, Novartis AG, Sanofi, Pfizer Inc., Fresenius SE & Co. KGaA, and Aurobindo Pharma.
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