LATIN AMERICA PHARMACEUTICAL PRODUCTS CMO MARKET ANALYSIS

The demand for generic products is high in the pharmaceutical market in Latin America. Moreover, majority of pharmaceutical companies in are gradually outsourcing manufacturing activities to contract manufacturing organizations (CMO).

The Latin America Pharmaceutical Products CMO Market is estimated to be valued at US$ 15,173.6 million in 2020 and is expected to exhibit a CAGR of 14.7% over the forecast period (2020-2027).

Figure 1. Latin America Pharmaceutical Products CMO Market Share (%), By Country, 2020

To learn more about this report, Request sample copy

Increasing prevalence of chronic disease is expected to drive the market growth 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.

Major players in the market are also focused on R&D 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.

Figure 2. Latin America Pharmaceutical Products CMO Market Share (%), by Product Type, 2020

To learn more about this report, Request sample copy

Latin America Pharmaceutical Products CMO Market – Impact of Coronavirus (Covid-19) Pandemic

Since the COVID-19 virus outbreak in December 2019, the disease has spread to over 100 countries across the globe and the World Health Organization has declared it a public health emergency. According to the World Health Organization’s report, the manifestation of coronavirus disease (COVID-19) has resulted in more than 94.9 million infected individuals worldwide as of January 20^th 2021.

Furthermore, players operating in the Latin America pharmaceutical products CMO market are facing major challenges on various fronts due to the COVID-19 pandemic. The major challenges include supply of raw materials required for manufacturing product due to irregularities in transportation facility. Moreover, distributors of products are experiencing irregular demand for products from the retailers due to increasing number of patients suffering from COVID-19 and other life threatening disorders.

Latin America Pharmaceutical Products CMO Market Restraint

The pharmaceutical industry in Mexico does not operate through an established system of reimbursement and there is minimal reimbursement offered outside the hospital settings. 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.

Key Players

Major players operating in the 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