Latin America Over The Counter (OTC) Drugs Market 2018 Segmented by Manufacturers and Forecasts to 2024
Latin America Over The Counter (OTC) Drugs Market from Qurate’s Repository provides detailed information, in depth analysis and forecast which is developed by team of experts and professionals.
(EMAILWIRE.COM, September 07, 2018 ) Latin America Over The Counter (OTC) Drugs Market
Over-the-counter drugs Market also known as the non-prescription drugs that can be bought without a prescription. Over-the-counter drugs are safe and effective when the consumer follows the directions on the label or as provided by a physician. Over-the-counter (OTC) drugs are primarily used to treat conditions that do not require direct consultation of a doctor. Over-the-counter drugs provide affordable treatment and also help to decrease the workload of physicians. Over-the-counter drugs are easily available in pharmacies. Even though these products are considered as over-the-counter because these are not directly kept on pharmacy counters and must be dispensed by a pharmacist after confirming age, identity, and patient knowledge regarding usage of the product.
Some of the players in Latin America Over The Counter Drugs Market are Novartis AG (Switzerland), Pfizer, Inc. (U.S.), Valeant (Canada), Perrigo Company plc. (U.S.), Sanofi-Aventis (France), GlaxoSmithKline plc. (U.K.), Johnson & Johnson Services, Inc. (U.S.), Bayer AG (Germany), Takeda Pharmaceuticals company Ltd. (Japan), Teva Pharmaceutical Industries Ltd. (Israel), Bristol-Myers Squibb (U.S.), and Reckitt Benckiser Group plc (U.K.) to name a few.
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Latin America (OTC) drugs market is growing at a significant CAGR due to rise in the population. Increase in the adoption of western lifestyles, promotion and marketing initiatives for over-the-counter products, the rise in the healthcare expenditure, and an increase in the geriatric population expected to fuel the Latin America Over The Counter Drugs Market over the forecast period. Furthermore, rise in demand for self-medication with non-prescription drugs, changes in cultural attitudes regarding self-medications required for minor health problems, convenience in the direct purchase, savings enabled by the use of over-the-counter drugs, and developments and innovations in drugs products expected to fuel the Latin-America over-the-counter drugs market. However, competition between the existing market players, more possibilities of substance addiction and abuse, severity and complications involved in the taking of wrong medications due to misdiagnosis and lack of awareness among the rural population in developing and underdeveloped countries might hinder the Latin America over-the-counter drugs market over the forecast period.
The Latin America Over The Counter Drugs Market is segmented on the basis of product type, formulation type, and distribution channel
Based on product type, Latin America Over The Counter Drugs Market has been segmented into the following:
Pain Products
Cough, Cold and Flu Products
Vitamins and Minerals
Gastrointestinal Products
Ophthalmic Products
Sleep Aid Products
Weight Loss/Diet Products
Others
Based on formulation type, Latin America Over The Counter Drugs Market has been segmented into the following:
Tablets
Liquids
Ointments
Sprays
Others
Based on distribution channel, Latin America Over The Counter Drugs Market has been segmented into the following:
Pharmacies
Supermarkets/Hypermarkets
Convenience stores
Online drugstores
Others
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The Latin America Over The Counter Drugs Market is in the flourishing stage with several local and international players actively engaged in the launch of new products to increase their market share in the Latin America over-the-counter drugs market. Some of the key strategies followed by various pharmaceutical companies include acquisitions and mergers, collaborations, and technological innovations for over-the-counter drugs. For instance, in February 2013, Reckitt Benckiser, the manufacturer of Nurofen painkillers, paid to Bristol-Myers Squibb about US$ 482 Mn to license a portfolio of Latin American over-the-counter healthcare products. Moreover, in December 2017, Perrigo Company plc received FDA approval for Nicorette over the product and the company plans to launch the product in various countries including Latin America.
Geographically, Latin America Over The Counter Drugs Market segmented into the following countries such as Brazil, Mexico, Chile, Argentina, Venezuela and Rest of Latin America as these are the largest pharmaceutical markets in the region. Brazil holds the largest share, which is attributed to highest population among all Latin American countries, increase in awareness regarding the over-the-counter drugs. OTC drugs such as analgesics and contraceptives are commonly used in the Brazil. In Argentina, it is very common that a citizen can buy antibiotics without a prescription. Increase in population, advertising and marketing regarding the over-the-counter drugs, and ease of availability of over-the-counter drugs expected to fuel the Latin America over-the-counter drugs market over the forecast period.
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In September 2018, Isodiol International Inc. planned to launch OTC products in the Latin America region
In May 2014, Bayer acquired the consumer care business of Merck & Co., Inc., in Latin America and North America regions
Over-the-counter drugs Market also known as the non-prescription drugs that can be bought without a prescription. Over-the-counter drugs are safe and effective when the consumer follows the directions on the label or as provided by a physician. Over-the-counter (OTC) drugs are primarily used to treat conditions that do not require direct consultation of a doctor. Over-the-counter drugs provide affordable treatment and also help to decrease the workload of physicians. Over-the-counter drugs are easily available in pharmacies. Even though these products are considered as over-the-counter because these are not directly kept on pharmacy counters and must be dispensed by a pharmacist after confirming age, identity, and patient knowledge regarding usage of the product.
Some of the players in Latin America Over The Counter Drugs Market are Novartis AG (Switzerland), Pfizer, Inc. (U.S.), Valeant (Canada), Perrigo Company plc. (U.S.), Sanofi-Aventis (France), GlaxoSmithKline plc. (U.K.), Johnson & Johnson Services, Inc. (U.S.), Bayer AG (Germany), Takeda Pharmaceuticals company Ltd. (Japan), Teva Pharmaceutical Industries Ltd. (Israel), Bristol-Myers Squibb (U.S.), and Reckitt Benckiser Group plc (U.K.) to name a few.
Get Sample Copy of This Report@ https://www.qurateresearch.com/report/sample/HnM/QBI-PBI-HnM-3247
Latin America (OTC) drugs market is growing at a significant CAGR due to rise in the population. Increase in the adoption of western lifestyles, promotion and marketing initiatives for over-the-counter products, the rise in the healthcare expenditure, and an increase in the geriatric population expected to fuel the Latin America Over The Counter Drugs Market over the forecast period. Furthermore, rise in demand for self-medication with non-prescription drugs, changes in cultural attitudes regarding self-medications required for minor health problems, convenience in the direct purchase, savings enabled by the use of over-the-counter drugs, and developments and innovations in drugs products expected to fuel the Latin-America over-the-counter drugs market. However, competition between the existing market players, more possibilities of substance addiction and abuse, severity and complications involved in the taking of wrong medications due to misdiagnosis and lack of awareness among the rural population in developing and underdeveloped countries might hinder the Latin America over-the-counter drugs market over the forecast period.
The Latin America Over The Counter Drugs Market is segmented on the basis of product type, formulation type, and distribution channel
Based on product type, Latin America Over The Counter Drugs Market has been segmented into the following:
Pain Products
Cough, Cold and Flu Products
Vitamins and Minerals
Gastrointestinal Products
Ophthalmic Products
Sleep Aid Products
Weight Loss/Diet Products
Others
Based on formulation type, Latin America Over The Counter Drugs Market has been segmented into the following:
Tablets
Liquids
Ointments
Sprays
Others
Based on distribution channel, Latin America Over The Counter Drugs Market has been segmented into the following:
Pharmacies
Supermarkets/Hypermarkets
Convenience stores
Online drugstores
Others
Buy This Report@ https://www.qurateresearch.com/report/buy/HnM/QBI-PBI-HnM-3247/ (Priced at USD 4400)
The Latin America Over The Counter Drugs Market is in the flourishing stage with several local and international players actively engaged in the launch of new products to increase their market share in the Latin America over-the-counter drugs market. Some of the key strategies followed by various pharmaceutical companies include acquisitions and mergers, collaborations, and technological innovations for over-the-counter drugs. For instance, in February 2013, Reckitt Benckiser, the manufacturer of Nurofen painkillers, paid to Bristol-Myers Squibb about US$ 482 Mn to license a portfolio of Latin American over-the-counter healthcare products. Moreover, in December 2017, Perrigo Company plc received FDA approval for Nicorette over the product and the company plans to launch the product in various countries including Latin America.
Geographically, Latin America Over The Counter Drugs Market segmented into the following countries such as Brazil, Mexico, Chile, Argentina, Venezuela and Rest of Latin America as these are the largest pharmaceutical markets in the region. Brazil holds the largest share, which is attributed to highest population among all Latin American countries, increase in awareness regarding the over-the-counter drugs. OTC drugs such as analgesics and contraceptives are commonly used in the Brazil. In Argentina, it is very common that a citizen can buy antibiotics without a prescription. Increase in population, advertising and marketing regarding the over-the-counter drugs, and ease of availability of over-the-counter drugs expected to fuel the Latin America over-the-counter drugs market over the forecast period.
Enquiry about Report@ https://www.qurateresearch.com/report/enquiry/HnM/QBI-PBI-HnM-3247
In September 2018, Isodiol International Inc. planned to launch OTC products in the Latin America region
In May 2014, Bayer acquired the consumer care business of Merck & Co., Inc., in Latin America and North America regions
Contact Information:
Qurate Business Intelligence
Nehal Chinoy
Tel: +919881074592
Email us
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Qurate Business Intelligence
Nehal Chinoy
Tel: +919881074592
Email us
----
This press release is posted on EmailWire.com -- a global newswire that provides Press Release Distribution Services with Guaranteed Results