Latin America Over The Counter Drugs Market | OTC Drugs Market | Forecast 2018 -2024
Latin America Over The Counter (OTC) Drugs Market report offers Market Size, Dynamics, Regional Market Share, Top Key Players, Latest trends, Growth factors, Industry Stats, Historic Market, Business Intelligence, Business Research Reports, Competitive Intelligence 2013 to 2017 and Forecast 2018 to 2024
Latin America over-the-counter-medicine market is growing at a significant CAGR due to rise in the population. Increase in the adoption of western lifestyles, promotion and marketing initiatives for over-the-counter products, rise in the healthcare expenditure, and an increase in the geriatric population expected to fuel the Latin America over-the-counter medicine market over the forecast period. Furthermore, rise in demand for self-medication with non-prescription medicine, changes in cultural attitudes regarding self-medications required for minor health problems, convenience in the direct purchase, savings enabled by the usage of over-the-counter medicine, and developments and innovations in medicine products expected to fuel the Latin-America over-the-counter medicine market.
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The Latin America over-the-counter medicine market is segmented on the basis of product type, formulation type, and distribution channel
Based on product type, Latin America over-the-counter Medicine market has been segmented into the following:
• Pain Products
• Cough, Cold and Flu Products
• Vitamins and Minerals
• Gastrointestinal Products
• Ophthalmic Products
• Sleep Aid Products
• Weight Loss/Diet Products
• Others
Based on formulation type, Latin America over-the-counter Medicine market has been segmented into the following:
• Tablets
• Liquids
• Ointments
• Sprays
• Others
Based on distribution channel, Latin America over-the-counter Medicine market has been segmented into the following:
• Pharmacies
• Supermarkets/Hypermarkets
• Convenience stores
• Online drug stores
• Others
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The Latin America over-the-counter medicine market is in the flourishing stage with several local and international players actively engaged in the launch of new products to increase their market share in the Latin America over-the-counter medicine market. Some of the key strategies followed by various pharmaceutical companies include acquisitions and mergers, collaborations, and technological innovations for over-the-counter medicine.. For instance, in February 2013, Reckitt Benckiser, the manufacturer of Nurofen painkillers, paid to Bristol-Myers Squibb about US$ 482 Mn to license a portfolio of Latin American over-the-counter healthcare products.
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Some of the players in Latin America over-the-counter medicine market are Novartis AG (Switzerland), Pfizer, Inc. (U.S.), Valeant (Canada), Perrigo Company plc. (U.S.), Sanofi-Aventis (France), GlaxoSmithKline plc. (U.K.), Johnson & Johnson Services, Inc. (U.S.), Bayer AG (Germany), Takeda Pharmaceuticals company Ltd. (Japan), Teva Pharmaceutical Industries Ltd. (Israel), Bristol-Myers Squibb (U.S.), and Reckitt Benckiser Group plc (U.K.) to name a few.
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