South & Central America Mid-Size Pharmaceutical Market Forecast to 2028 - COVID-19 Impact and Regional Analysis - by Type, Drug Development Type, Formulation, and Therapy Class

The mid-size pharmaceutical market in South & Central America is expected to grow from US$ 24,301.56 million in 2022 to US$ 31,118.17 million by 2028; it is estimated to grow at a CAGR of 4.2% from 2022 to 2028.

The South & Central America mid-size pharmaceutical market is segmented into Brazil, Argentina, and the Rest of South & Central America. In the global market, SAM held the second smallest share of US$ 24,301.56 million in 2022. The growth of the SAM market is driven by the increasing prevalence of cancer, rising geriatric population, surging incidence of hypertension, and the growing prevalence of other chronic diseases. The mid-size pharmaceutical market in the Rest of South & Central America is sub segmented into Peru, Chile, Bolivia, Ecuador, and other countries. According to the GLOBOCAN 2020, prostate cancer is the leading cause of cancer death in the Peruvian population, with an age-standardized mortality rate (ASMR) of 44.3 per 100,000. Due to the rising cancer prevalence, the demand for oncology drugs is expected to rise in the region, which would create lucrative opportunities for the mid-size pharmaceutical companies.

By introducing new features and technologies, vendors in the South & Central America mid-size pharmaceutical market can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the market growth at a good CAGR during the forecast period.

South & Central America Mid-Size Pharmaceutical Market Segmentation

The South & Central America mid-size pharmaceutical market is segmented on the basis of type, drug development type, formulation, therapy class, and country.

• Based on type, the South & Central America mid-size pharmaceutical market is bifurcated into prescription and over-the-counter. In 2022, the over-the-counter segment accounted for a larger market share.
• Based on drug development type, the market is bifurcated into in-house and outsource. The outsource segment held a larger market share in 2022.
• Based on formulation, the South & Central America mid-size pharmaceutical market is segmented into tablets and capsules, injectables, sprays, and other formulations. The tablets & capsules segment held the largest market share in 2022.
• Based on therapy class, the market is segmented into cardiovascular diseases, pain management, diabetes, cancer, and other conditions. The diabetes segment held the largest market share in 2022.
• Based on country, the South & Central America mid-size pharmaceutical market is segmented into Brazil, Argentina, and Rest of South & Central America. Brazil held the largest market share in 2022.

Alexion Pharmaceuticals, Inc.; Bausch Health Companies Inc.; Daiichi Sankyo Company Limited; Endo Pharmaceuticals Inc.; Mallinckrodt; and Sun Pharmaceutical Industries Ltd are among the leading companies operating in the mid-size pharmaceutical market in the region.