Market Trends of Latin America Pharmaceutical Contract Manufacturing Organization Industry
This section covers the major market trends shaping the Latin America Pharmaceutical Contract Manufacturing Organization Market according to our research experts:
Liquid Dose Formulation Holds Significant Market Share
- The liquid/semi-solid dose formulation segment is mature, with a slower growth rate, as compared to the injectable formulation segment. The reduction in demand during the forecast period maybe attributed to storage, packaging, and transportation issues. These formulations provide lower returns, as compared to injectable drug formulations.
- Owing to the continued usage of liquid dosage formulation in the nasal and ophthalmic sectors, the liquid dosage formulation segment is expected to record stable growth. This growth is backed up by increasing R&D in nasal delivery systems, for certain types of diseases and disorders, such as body pain, osteoporosis, and sexual diseases.
- In addition, there is a visible declining trend in this segment, as the therapeutic markets for these formulations have a lower market share. However, interest in niche pharmaceuticals is expected to lead to low volume and high value products, which are intended to cater to the unique needs of patients.
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Mexico Holds Significant Market Share
- Mexico is the second-largest market for pharmaceutical contract manufacturing in Latin America. Contract manufacturing has opened a huge opportunity for the Mexican companies, and it is riddled with benefits.
- The healthcare expenditure of the country accounts for 5.5% of the GDP, according to OECD. The health insurance coverage for vulnerable populations expanded over time, accounting for 89.3% among the OECD countries. This has triggered the pharmaceutical companies to eye the Mexican market. However, due to weak support from the government and lower per capita health spending among the Mexican population, there is a significant scope for outsourcing pharmaceutical manufacturing.
- Continuous growth in the sales of generic drugs is driving the revenues of the local pharmaceutical contract manufacturers. In addition, significant growth in Mexico’s generics market is garnering investments from foreign manufacturers who are seeking access to other Latin American markets through Mexico-based production activities.
- The Indian pharmaceutical companies are leading the way, in the development of generic drugs in Mexico, and they are investing heavily in the country. This represents the steady growth of pharmaceutical contract manufacturing in Mexico and indicates a promising ROI.
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Latin America Pharmaceutical Contract Manufacturing Organization Report Snapshots
- Latin America Pharmaceutical Contract Manufacturing Organization Market Size
- Latin America Pharmaceutical Contract Manufacturing Organization Market Share
- Latin America Pharmaceutical Contract Manufacturing Organization Market Trends
- Latin America Pharmaceutical Contract Manufacturing Organization Companies
