TechNavio recognizes the following companies as the key players in OTC Pharmaceuticals Market in Latin America: Bayer HealthCare AG., EMS S.A., Hypermarcas S.A., and Novartis AG.
Commenting on the report, an analyst from TechNavio’s team said: “The development and manufacture of drugs is a complex and time-consuming process, and it requires huge financial investments. As many vendors are facing the problem of declining venture capital investments, they are increasingly following the strategy of outsourcing. Certain vendors outsource different parts of the R&D process (such as product characterization testing and toxicology testing) to contract research organizations. Similarly, certain vendors are outsourcing part of their manufacturing process, or even the entire manufacturing process, to various organizations. Thus, outsourcing is one of the main trends in this market at present. ”
According to the report, one of the major drivers is the increasing switch from prescription to OTC drugs, which increases the number of OTC drugs available.
Further, the report states that one of the major challenges in the market is the stringent regulations posed by regulatory bodies such as Agência Nacional de Vigilância Sanitária, Brazil. Product recalls negatively affect a company’s image, resulting in customers opting for other products available in the market, which leads to a fall in sales.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors. For further information on this report, please visit https://www.technavio.com/report/otc-pharmaceuticals-market-in-latin-amer…
TechNavio, the market research platform of Infiniti Research Ltd., publishes periodic market research reports on niche and emerging technologies. For more information on our market research, please visit https://www.technavio.com/healthcare-chemicals-food-retail
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TechNavio Announces the Publication of its Research Report – OTC Pharmaceuticals Market in Latin America 2014-2018
