Author
Muni Kumar Meravath is a seasoned Healthcare Market Research Analyst with over 6 years of experience in the healthc.....
Latin America Over The Counter Drugs Market: By Product Type, By Formulation Type, By Distribution Channel and Country
Latin America Over The Counter (OTC) Drugs Market size was valued at US$ 11.46 million in 2022 and is poised to grow at a CAGR of 8.6% from 2023-2029. Over-the-counter (OTC) 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.
Latin America over the counter 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.
Latin America over the counter 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 theLatin 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.
Report Benchmarks |
Details |
Market Size in 2022 |
US$ 11.46 million |
By Product Type |
|
By Formulation type |
|
By Distribution Channel |
|
Download Free Sample Report
The Latin America Over The Counter Otc Drugs Market size was valued at US$ 11.46 million in 2022
The increasing patient population for self-medication
Novartis AG (Switzerland) Pfizer, Inc. (U.S.) Valeant (Canada) Perrigo Company plc. (U.S.) Sanofi (France) GlaxoSmithKline plc. (U.K.) Johnson & Johnson Services, Inc. (U.S.) Bayer AG (Germany) Takeda Pharmaceuticals company Ltd. (Japan)
1. Executive Summary |
2. Latin America Over The Counter (OTC) Market Introduction |
2.1. Latin America Over The Counter (OTC) Market Taxonomy |
2.2. Latin America Over The Counter (OTC) Market Definitions |
2.2.1. Product Type |
2.2.2. Formulation Type |
2.2.3. Distribution Channel |
3. Latin America Over The Counter (OTC) Market Dynamics |
3.1. Drivers |
3.2. Restraints |
3.3. Opportunities/Unmet Needs of the Market |
3.4. Trends |
3.5. Latin America Over The Counter (OTC) Market Dynamics Factors Impact Analysis |
3.6. Latin America Over The Counter (OTC) Market Regulations |
3.7. Latin America Over The Counter (OTC) Market Product Innovations |
4. Latin America Over The Counter (OTC) Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 |
4.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn) |
4.2. Year-over-Year (Y-o-Y) Growth Analysis (%) |
4.3. Market Oppurtunity Analysis |
5. Latin America Over The Counter (OTC) Market, By Product, 2018 - 2022 and Forecast, 2023 - 2029 |
5.1. Pain Products |
5.1.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn) |
5.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis |
5.1.3. Market Opportunity Analysis |
5.2. Cough, Cold and Flu Products |
5.2.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn) |
5.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis |
5.2.3. Market Opportunity Analysis |
5.3. Vitamins and Minerals |
5.3.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn) |
5.3.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis |
5.3.3. Market Opportunity Analysis |
5.4. Gastrointestinal Products |
5.4.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn) |
5.4.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis |
5.4.3. Market Opportunity Analysis |
5.5. Ophthalmic Products |
5.5.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn) |
5.5.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis |
5.5.3. Market Opportunity Analysis |
5.6. Sleep Aid Products |
5.6.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn) |
5.6.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis |
5.6.3. Market Opportunity Analysis |
5.7. Weight Loss/Diet Products |
5.7.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn) |
5.7.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis |
5.7.3. Market Opportunity Analysis |
5.8. Others |
5.8.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn) |
5.8.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis |
5.8.3. Market Opportunity Analysis |
6. Latin America Over The Counter (OTC) Market Forecast, By Formulation Type, 2018 - - 2022 and Forecast, 2023 - 2029 |
6.1. Tablets |
6.1.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn) |
6.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis |
6.1.3. Market Opportunity Analysis |
6.2. Liquids |
6.2.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn) |
6.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis |
6.2.3. Market Opportunity Analysis |
6.3. Ointments |
6.3.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn) |
6.3.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis |
6.3.3. Market Opportunity Analysis |
6.4. Sprays |
6.4.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn) |
6.4.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis |
6.4.3. Market Opportunity Analysis |
6.5. Others |
6.5.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn) |
6.5.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis |
6.5.3. Market Opportunity Analysis |
7. Latin America Over The Counter (OTC) Market Forecast, By Distribution Channel, 2018 - 2022 and Forecast, 2023 - 2029 |
7.1. Pharmacies |
7.1.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn) |
7.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis |
7.1.3. Market Opportunity Analysis |
7.2. Supermarkets/Hypermarkets |
7.2.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn) |
7.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis |
7.2.3. Market Opportunity Analysis |
7.3. Convenience stores |
7.3.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn) |
7.3.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis |
7.3.3. Market Opportunity Analysis |
7.4. Online drugstores |
7.4.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn) |
7.4.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis |
7.4.3. Market Opportunity Analysis |
7.5. Others |
7.5.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn) |
7.5.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis |
7.5.3. Market Opportunity Analysis |
8. Argentina Over The Counter (OTC) Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 |
8.1. Product Analysis 2018 - 2022 and Forecast, 2023 - 2029 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
8.1.1. Pain Products |
8.1.2. Cough, Cold and Flu Products |
8.1.3. Vitamins and Minerals |
8.1.4. Gastrointestinal Products |
8.1.5. Ophthalmic Products |
8.1.6. Sleep Aid Products |
8.1.7. Weight Loss/Diet Products |
8.1.8. Others |
8.2. Formulation Type Analysis 2018 - 2022 and Forecast, 2022 - 2029 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%) |
8.2.1. Tablets |
8.2.2. Liquids |
8.2.3. Ointments |
8.2.4. Sprays |
8.2.5. Others |
8.3. Distribution Channel Analysis 2018 - 2022 and Forecast, 2023 - 2029 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%) |
8.3.1. Pharmacies |
8.3.2. Supermarkets/Hypermarkets |
8.3.3. Convenience stores |
8.3.4. Online drugstores |
8.3.5. Others |
8.4. Argentina Over The Counter (OTC) Market - Opportunity Analysis Index, By Product, Formulation Type, Distribution Channel and Country, 2022 - 2029 |
8.5. Argentina Over The Counter (OTC) Market Dynamics Trends |
9. Brazil Over The Counter (OTC) Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 |
9.1. Product Analysis 2018 - 2022 and Forecast, 2023 - 2029 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
9.1.1. Pain Products |
9.1.2. Cough, Cold and Flu Products |
9.1.3. Vitamins and Minerals |
9.1.4. Gastrointestinal Products |
9.1.5. Ophthalmic Products |
9.1.6. Sleep Aid Products |
9.1.7. Weight Loss/Diet Products |
9.1.8. Others |
9.2. Formulation Type Analysis 2018 - 2022 and Forecast, 2023 - 2029 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%) |
9.2.1. Tablets |
9.2.2. Liquids |
9.2.3. Ointments |
9.2.4. Sprays |
9.2.5. Others |
9.3. Distribution Channel Analysis 2018 - 2022 and Forecast, 2023 - 2029 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%) |
9.3.1. Pharmacies |
9.3.2. Supermarkets/Hypermarkets |
9.3.3. Convenience stores |
9.3.4. Online drugstores |
9.3.5. Others |
9.4. Brazil Over The Counter (OTC) Market - Opportunity Analysis Index, By Product, Formulation Type, Distribution Channel and Country, 2023 - 2029 |
9.5. 9.4. Brazil Over The Counter (OTC) Market Dynamics Trends |
10. Mexico Over The Counter (OTC) Market Analysis, 2018 - - 2022 and Forecast, 2023 - 2029 |
10.1. Product Analysis 2018 - 2022 and Forecast, 2023 - 2029 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
10.1.1. Pain Products |
10.1.2. Cough, Cold and Flu Products |
10.1.3. Vitamins and Minerals |
10.1.4. Gastrointestinal Products |
10.1.5. Ophthalmic Products |
10.1.6. Sleep Aid Products |
10.1.7. Weight Loss/Diet Products |
10.1.8. Others |
10.2. Formulation Type Analysis 2018 - 2022 and Forecast, 2023 - 2029 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%) |
10.2.1. Tablets |
10.2.2. Liquids |
10.2.3. Ointments |
10.2.4. Sprays |
10.2.5. Others |
10.3. Distribution Channel Analysis 2018 - 2022 and Forecast, 2023 - 2029 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%) |
10.3.1. Pharmacies |
10.3.2. Supermarkets/Hypermarkets |
10.3.3. Convenience stores |
10.3.4. Online drugstores |
10.3.5. Others |
10.4. Mexico Over The Counter (OTC) Market - Opportunity Analysis Index, By Product, Formulation Type, Distribution Channel and Country, 2023 - 2029 |
10.5. 9.4. Mexico Over The Counter (OTC) Market Dynamics Trends |
11. Rest of Latin America Over The Counter (OTC) Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 |
11.1. Product Analysis 2018 - 2022 and Forecast, 2022 - 2029 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
11.1.1. Pain Products |
11.1.2. Cough, Cold and Flu Products |
11.1.3. Vitamins and Minerals |
11.1.4. Gastrointestinal Products |
11.1.5. Ophthalmic Products |
11.1.6. Sleep Aid Products |
11.1.7. Weight Loss/Diet Products |
11.1.8. Others |
11.2. Formulation Type Analysis 2018 - 2022 and Forecast, 2022 - 2029 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%) |
11.2.1. Tablets |
11.2.2. Liquids |
11.2.3. Ointments |
11.2.4. Sprays |
11.2.5. Others |
11.3. Distribution Channel Analysis 2018 - 2022 and Forecast, 2022 - 2029 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%) |
11.3.1. Pharmacies |
11.3.2. Supermarkets/Hypermarkets |
11.3.3. Convenience stores |
11.3.4. Online drugstores |
11.3.5. Others |
11.4. Rest of Latin America Over The Counter (OTC) Market - Opportunity Analysis Index, By Product, Formulation Type, Distribution Channel and Country, 2018 2024 |
11.5. 9.4. Rest of Latin America Over The Counter (OTC) Market Dynamics Trends |
12. Competition Landscape |
12.1. Strategic Dashboard of Top Market Players |
12.2. Company Profiles (Introduction, Financial Analysis, Product & Service Offerings, Key Developments, Strategies, and SWOT Analysis) |
12.2.1. Novartis AG (Switzerland) |
12.2.2. Pfizer, Inc. (U.S.) |
12.2.3. Valeant (Canada) |
12.2.4. Perrigo Company plc. (U.S.) |
12.2.5. Sanofi (France) |
12.2.6. GlaxoSmithKline plc. (U.K.) |
12.2.7. Johnson & Johnson Services, Inc. (U.S.) |
12.2.8. Bayer AG (Germany) |
12.2.9. Takeda Pharmaceuticals company Ltd. (Japan) |
12.2.10. Teva Pharmaceutical Industries Ltd. (Israel) |
12.2.11. Bristol-Myers Squibb (U.S.) |
12.2.12. Reckitt Benckiser Group plc (U.K.) |
13. Research Methodology |
14. Key Assumptions and Acronyms |
Key Market Players