The LATAM pharmaceutical market has undergone significant development in recent years. Valued at $98 billion dollars, and with an expected growth of 10.1%, the LATAM market increase will outperform developed markets such as North America (3.1%) and Europe (3.9%) With a greater focus on innovation and expansion of local manufacturing, the LATAM market offers an attractive destination for domestic and international pharmaceutical companies, for clinical trials and for investment in local manufacturing sites. Barriers remain, including technology gaps, supply chain constraints, and a high dependence on API imports.
Overcoming these challenges will make way for even more aggressive growth in the region. To do so, the correct articulation between the main bases of the innovation environment (industry and startups, government, academia) is more critical than ever.
Learn about the initiatives presented to overcome the main obstacles in the pharmaceutical industry in LATAM.
