LATIN AMERICA PHARMACEUTICAL PRODUCTS CMO MARKET ANALYSIS

Latin America Pharmaceutical Products Cmo MarketSize and Trends

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

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.

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.