Latin America Over The Counter (OTC) Drugs Market to 2021 - Increasing Disease Prevalence to be a Key Driver of Market Growth
Latin America Over The Counter (OTC) Drugs Market By Product Type (Analgesics, Cough, Cold And Flu Products, Dermatological Products, Gastrointestinal Products
(EMAILWIRE.COM, March 27, 2018 ) OTC drugs market in Latin America region has been estimated at USD 8,942.1 Million in 2016 and is projected to reach USD 14,701.7 Million by 2022, at a CAGR of 8.64% during the forecast period from 2016 to 2022. 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.
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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.
The Latin America market is segmented based on product and geographically. The product market basically caters medicines in the categories like analgesics, cough, cold and flu products, dermatological products, gastrointestinal products, vitamins, minerals, weight loss products, sleep aids, ophthalmic products, smoking cession aids and other products. More than half of the market share belongs to categories like Analgesics, Cough, Cold & Flu, Dermatological and gastrointestinal categories.
GlaxoSmithKline, Johnson and Johnson, Novartis, Bayer, Pfizer, Sanofi and Takeda are the leading companies that contribute to Latin America market.
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scope of the report provides:
The evaluation of the current market for your product or services and the future implications of the market
Addresses the opportunities by better understanding the market through size estimates and growth rate analysis to forecast the market for the future
Extensive segmentation to understand the dynamics of market at a very granular level by splitting down the market to the smallest segment
Addresses the key market dynamics involving the drivers, restraints and challenges with an aim of providing insights for gaining market share
The factors responsible for the shaping of the industry as it is as a result of competitive environment is analyzed through Porters Five Forces
The effects of political, economic, social, technological, legal and environmental factors on the industry is analyzed through PESTLE analysis to better understand the aspects of strategic management required to comply with the exogenous and endogenous factors
Strategic evaluation of the key players to gain insights of their performance allowing access to their product portfolio, financial performance and the strengths of their business strategic developments
Comparative study of the firms across the industry measuring their performances based on market share and recent activities in order to achieve competitive intelligence
Equip you with the information providing with the investment opportunities in the industry
Looking for more? If you are in need of a specific research study, we have an expertise in undertaking a customized study and will aid to meet your research requirement to the fullest.
About Us:
Market Data Forecast is a firm working in the area of market research and business intelligence. With rich experience in research across various business domains, we cater to the needs of both individual and corporate clients. Our analyst team comprises expert professionals in market research, who with their collective knowledge and sksillset dedicatedly serve clients from various industries and regions.
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.
Get a comprehensive overview of the Market: https://www.marketdataforecast.com/market-reports/latin-america-over-the-counter-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.
The Latin America market is segmented based on product and geographically. The product market basically caters medicines in the categories like analgesics, cough, cold and flu products, dermatological products, gastrointestinal products, vitamins, minerals, weight loss products, sleep aids, ophthalmic products, smoking cession aids and other products. More than half of the market share belongs to categories like Analgesics, Cough, Cold & Flu, Dermatological and gastrointestinal categories.
GlaxoSmithKline, Johnson and Johnson, Novartis, Bayer, Pfizer, Sanofi and Takeda are the leading companies that contribute to Latin America market.
Request for Sample Brochure: https://www.marketdataforecast.com/market-reports/latin-america-over-the-counter-drugs-market-513/request-sample
scope of the report provides:
The evaluation of the current market for your product or services and the future implications of the market
Addresses the opportunities by better understanding the market through size estimates and growth rate analysis to forecast the market for the future
Extensive segmentation to understand the dynamics of market at a very granular level by splitting down the market to the smallest segment
Addresses the key market dynamics involving the drivers, restraints and challenges with an aim of providing insights for gaining market share
The factors responsible for the shaping of the industry as it is as a result of competitive environment is analyzed through Porters Five Forces
The effects of political, economic, social, technological, legal and environmental factors on the industry is analyzed through PESTLE analysis to better understand the aspects of strategic management required to comply with the exogenous and endogenous factors
Strategic evaluation of the key players to gain insights of their performance allowing access to their product portfolio, financial performance and the strengths of their business strategic developments
Comparative study of the firms across the industry measuring their performances based on market share and recent activities in order to achieve competitive intelligence
Equip you with the information providing with the investment opportunities in the industry
Looking for more? If you are in need of a specific research study, we have an expertise in undertaking a customized study and will aid to meet your research requirement to the fullest.
About Us:
Market Data Forecast is a firm working in the area of market research and business intelligence. With rich experience in research across various business domains, we cater to the needs of both individual and corporate clients. Our analyst team comprises expert professionals in market research, who with their collective knowledge and sksillset dedicatedly serve clients from various industries and regions.
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Market Data Forecast.
Abhishek Shukla
Tel: +1-888-702-9626
Email us
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Market Data Forecast.
Abhishek Shukla
Tel: +1-888-702-9626
Email us
----
This press release is posted on EmailWire.com -- a global newswire that provides Press Release Distribution Services with Guaranteed Results