We\u2019ve reported in the past on the\nimpressive growth in Latin America\u2019s pharmaceutical sector, but more recent\nnumbers suggest that this growth will continue apace. Below we share some\noverall projections, along with forecast for different segments within the\nLatAm pharma sector. <\/p>\n\n\n\n
NOTE: If you are interested in a closer\nmonitoring of the industry, please contact us about the service\nwe are offering in partnership with GBI, which will provide regular updates on\na subscription basis<\/strong><\/a>.<\/p>\n\n\n\n In an interview with Colombia\u2019s Semana<\/em>\nmagazine, Giovanni Saggioro\u2014Vice-President of Human Nutrition and Health at\nDSM, a biotechnology company based in The Netherlands\u2014projects that the Latin\nAmerican pharmaceutical market will grow with a compound annual growth rate (CAGR)\nof 7% though 2023 to reach a total value of US$76 billion<\/a>.\nYou can read the entire interview here<\/a>,\nwhich offer some of Saggioro\u2019s thoughts about the industry and investment plans\nof DSM in the future.<\/p>\n\n\n\n Here\u2019s a look at some recent numbers for select markets in Latin America:<\/p>\n\n\n\n According to Statista, the generic drugs\nmarket in Latin America currently has a value of US$37.1 billion and is\nexpected to reach a value\nof US$50.6 billion<\/a>, growing with a CAGR of\n6.4% between 2021 and 2026.<\/p>\n\n\n\n Pharmaceutical companies outsource their\nmanufacturing to equipped companies known as contract manufacturing\norganizations or CMOs, which focus on developing, formulating and testing\nproducts, among other key services. The CMO pharmaceutical market in Latin\nAmerica will increase in size from US$15 million in 2020 to more\nthan US$39.7 million by 2027<\/a>,\naccording to a projection from Coherent Market Insights. This represents a CAGR\nof 14.7% over this seven-year time period.<\/p>\n\n\n\n The LatAm pharmaceutical packaging market\nis expected to grow with a CAGR of 6.8% between\n2020 and 2025<\/a>, with Colombia projected\nto post significant growth during this period, according to Mordor\nIntelligence.<\/p>\n\n\n\n#1 Overall Growth<\/h2>\n\n\n\n
#2 Specific Countries<\/h2>\n\n\n\n
#3 Generic Drugs<\/h2>\n\n\n\n
#4 CMO Market<\/h2>\n\n\n\n
#5 Pharmaceutical Packaging <\/h2>\n\n\n\n
#6 Over-the-Counter Drugs<\/h2>\n\n\n\n