Latin America Over The Counter Drugs Market Analysis By 2021 Research Report Covers Updated Data Considering Post Impact Of Covid-19 On Share, Size And Future Demand

Precision Business Insights published a research report on "Latin America Over The Counter Drugs Market by Product Type (Pain Products, Cough, Cold and Flu Products, Vitamins and Minerals, Gastrointestinal Products, Ophthalmic Products, Sleep Aid Products, Weight Loss/Diet Products, Others), by Formulation Type (Tablets, Liquids, Ointments, Sprays, Others), by Distribution Channel (Pharmacies, Supermarkets/Hypermarkets, Convenience stores, Online drugstores, Others) - Global/Region/Country Forecast to 2027"

Over-the-Counter (OTC) drugs are those that may be purchased without a prescription at a pharmacy. It is commonly used to treat minor health problems. If a physician's or the label's recommendations are followed, over-the-counter drugs are typically safe. Over-the-counter (OTC) medications are used to treat aches, sensations, and itching, to prevent or cure illnesses, and to control migraines and allergies. To avoid errors, over-the-counter (OTC) drugs should always be used carefully.

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In recent times, infectious illnesses such as acute severe acute respiratory syndrome (SARS), Middle East respiratory syndrome (MERS), Chikungunya, Ebola, Swine flu, Avian flu, COVID-19 and Zika have had a substantial epidemiological burden in Latin America. The rising incidence of these illnesses has resulted in a higher need for Over the Counter Drugs in the region. Moreover, the increasing geriatric number of people, growing initiatives by manufacturing companies to broaden their client base and improve reliability of innovative technologies in the Latin American region, a lack of skilled medical professionals, and rising funding/investments for the advancement of Over the Counter Drugs products are all anticipated to push the Over the Counter Drugs market in the region forward. The rise in incidence of chronic and infectious illnesses for instance hepatitis, heart disease, gastrointestinal, cancer, respiratory, and sexually transmitted diseases (STDs) are expected to drive the Over the Counter Drugs market in the coming future. The recent epidemic of coronavirus illness (COVID-19) in the region, therefore, has resulted in a rapid development of the Latin America Over the Counter Drugs market in the region. Vale S.A., a Brazilian multinational business, acquired 5.5 million new coronavirus (COVID-19) fast test kits in March 2020 to assist the Brazilian government in combating the disease's spread. In the midst of the continuing epidemic, the Latin American region's general use of Over the Counter Drugs has grown considerably, according to WHO recommendations.

The global Latin America Over the Counter Drugs Market is fragmented on the basis of distribution channel and product type. On the basis of product type, the Latin America Over The Counter Drugs Market is categorized as cold, cough, and flu products, dermatology products, analgesics, gastrointestinal products, vitamins, minerals, and supplements (VMS), ophthalmic products, weight-loss/dietary products, sleeping aids, and other product types. On the basis of distribution channels, the market is classified as retail pharmacies, hospital pharmacies, online pharmacies, and other distribution channels.

In 2020, Brazil is expected to have the highest share of the Latin American Over the Counter Drugs Market. This market is anticipated to maintain its dominance over the forecast period, owing to rising occurrence of infectious illnesses, cancer, diabetes, and heart problems, as well as higher healthcare spending in Brazil as a result of the country's booming economy.

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There are several industry players working in the latin america over the counter drugs market, which include Novartis AG (Switzerland), Pfizer, Inc. (U.S.), Valeant (Canada), Perrigo Company plc. (U.S.), Sanofi-Aventis (France), GlaxoSmithKline plc. (U.K.), Johnson & Johnson Services, Inc. (U.S.), Bayer AG (Germany), Takeda Pharmaceuticals company Ltd. (Japan), Teva Pharmaceutical Industries Ltd. (Israel), Bristol-Myers Squibb (U.S.), and Reckitt Benckiser Group plc (U.K.) to name a few.

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