Latin America Pharmaceutical Products CMO Market, by Product Type (API and Ingredients, Finished Dosage Form, and Pharmaceutical Packaging) and by Country (Brazil, Mexico, Argentina, and Rest of Latin America), 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), as highlighted in a new report published by Coherent Market Insights.
Increasing merger and acquisition activity among key player in the Latin America are major factors driving the market growth during the forecast period. For instance, in October 2019, Knight Therapeutics announced its plans to acquire Biotoscana Investments, a Brazil-based pharmaceutical company for US$ 281 million. In May 2019, Hapvida Participacoes e Investimentos SA acquired Sao Francisco Saude.
Increasing adoption of telemedicine is expected to aid in growth of the market. For instance, in March 2020, VivaBem, a digital health tech start-up based in Brazil, partnered with Doktor.se, a telemedicine provider based in Sweden, to expand its digital primary care services in Brazil.
Browse 09 Market Data Tables and 13 Figures spread through 151 Pages and in-depth TOC on “Latin America Pharmaceutical Products CMO Market”- Global Forecast to 2027, by Product Type (API and Ingredients, Finished Dosage Form, and Pharmaceutical Packaging) and by Country (Brazil, Mexico, Argentina, and Rest of Latin America),
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Key Takeaways of the Latin America Pharmaceutical Products CMO Market:
- The Latin America pharmaceutical products CMO market is expected to exhibit a CAGR of 14.7% over the forecast period, owing to increasing prevalence of chronic disorder. 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.
- Among product type, pharmaceutical packaging segment is expected to hold a major revenue share in 2027, owing to the expansion of pharmaceutical packaging sector in Latin America. For instance, in April 2020, Klöckner Pentaplast, a provider of pharmaceutical packaging films, completed expansion at its Cotia facility in Brazil.
- Key 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
