Latin America Pharmaceutical Products CMO Market | Coherent Market Insights

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• LATIN AMERICA PHARMACEUTICAL PRODUCTS CMO MARKET
  ANALYSIS
• 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
• 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).

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• 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.
• Latin America Pharmaceutical Products CMO Market
  DriversIncreasing 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.

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• 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
• Figure 1 Latin America Pharmaceutical Products
  CMO Market Share () Value, By Region, 2019

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• 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
  Products 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.

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Latin America Pharmaceutical Products CMO Market
Report Coverage

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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.
• 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.

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

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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.

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Figure 3 Value Chain Analysis -

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• 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.
• Latin America Pharmaceutical Products CMO Market
  Key DevelopmentsMajor 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 RD 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 nadofaragene
  firadenovec (rAd-IFN/Syn3), an investigational
  gene therapy, for the treatment of high-grade,
  Bacillus Calmette-Guérin unresponsive non-muscle
  invasive bladder cancer.

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