Latin America Pharmaceutical Market Size & Outlook
Latin America pharmaceutical market, 2018-2030 (US$M)
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Latin America pharmaceutical market highlights
- The Latin America pharmaceutical market generated a revenue of USD 74,634.7 million in 2024.
- The market is expected to grow at a CAGR of 5.4% from 2025 to 2030.
- In terms of segment, conventional drugs (small molecules) was the largest revenue generating molecule in 2024.
- Biologics & Biosimilars (Large Molecules) is the most lucrative molecule segment registering the fastest growth during the forecast period.
- Country-wise, Brazil is expected to register the highest CAGR from 2025 to 2030.
Latin America data book summary
| Market revenue in 2024 | USD 74,634.7 million |
| Market revenue in 2030 | USD 102,243.7 million |
| Growth rate | 5.4% (CAGR from 2025 to 2030) |
| Largest segment | Conventional drugs (small molecules) |
| Fastest growing segment | Biologics & Biosimilars (Large Molecules) |
| Historical data covered | 2018 - 2023 |
| Base year for estimation | 2024 |
| Forecast period covered | 2025 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Biologics & Biosimilars (Large Molecules), Conventional Drugs (Small Molecules) |
| Key market players worldwide | Merck & Co Inc, Roche Holding AG, Novartis AG ADR, AbbVie Inc, Johnson & Johnson, Pfizer Inc, Bristol-Myers Squibb Co, Sanofi SA, GSK PLC, Takeda Pharmaceutical Co Ltd |
Other key industry trends
- In terms of revenue, Latin America region accounted for 4.5% of the global pharmaceutical market in 2024.
- Globally, North America is projected to lead the regional market in terms of revenue in 2030.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 503,932.0 million by 2030.
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Pharmaceutical Market Scope
Pharmaceutical Market Companies
| Name | Profile | # Employees | HQ | Website |
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Latin America pharmaceutical market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to pharmaceutical market will help companies and investors design strategic landscapes.
Conventional drugs (small molecules) was the largest segment with a revenue share of 57.17% in 2024. Horizon Databook has segmented the Latin America pharmaceutical market based on biologics & biosimilars (large molecules), conventional drugs (small molecules) covering the revenue growth of each sub-segment from 2018 to 2030.
The Latin American pharmaceutical market is undergoing a significant transformation, driven by growing investments, regulatory advancements, and increasing demand for high-quality healthcare solutions.
With an expanding middle class and improved healthcare access, the region is becoming a key area of focus for global pharmaceutical companies. One of the most notable developments in the Latin American pharmaceutical landscape is the influx of investments aimed at enhancing manufacturing capabilities.
In July 2024, German pain relief specialist Grünenthal announced an investment exceeding €80 million (USD 87 million) to upgrade its two manufacturing facilities in South America. This move represents the company’s largest manufacturingrelated expenditure in more than three decades.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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Horizon Databook provides a detailed overview of continent-level data and insights on the Latin America pharmaceutical market , including forecasts for subscribers. This continent databook contains high-level insights into Latin America pharmaceutical market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Latin America pharmaceutical market size, by country, 2018-2030 (US$M)
Latin America Pharmaceutical Market Outlook Share, 2024 & 2030 (US$M)
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