Promo- Latin America Over The Counter (OTC) Drugs Market

The rising awareness about the cost-effectiveness of OTC drugs to fuel the Latin America over
the Counter (OTC) Drugs Market growth
Dietary supplements contain dietary ingredients that are employed to supply nutrients to the
body to satisfy the nutrient balance of the body. Whereas on the opposite hand, over-thecounter medicine is observed as non-prescription medicines, as these is also availed without
having a prescriptions. OTC medicines are safe if they are administered per the directions
provided by tending professionals. In addition, they are a source of non-nutrient chemicals,
which provide biological profit to the body.
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The Latin America Over The Counter (OTC) Drugs Market has been valued at USD 8,942.1
Million in 2016 and is projected to achieve USD 14,701.7 Million by 2022, at a CAGR of 8.64%.
The growing trend among individuals to choose out OTC medication for minor diseases across
the countries of the region is additionally scripted to supplements the market growth.
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Drivers and Restraints:
When nicotine replacement therapies became over-the-counter medication, the sales
enhanced nearly by double within the first year alone post the notification concerning the
switch. Its accrued access enabled thousands of individuals to use these therapies to quit
smoking. Heartburn reducers have successfully helped shoppers save an average of $ 160
annually in prescription spending and doctor consultations.
As the pharmaceutical business has matured, patients became a lot concerned in health-care
problems and currently have taken some medical treatment into their own hands. The rise
within the variety of retail stores within the pharmaceutical business and shift in the focus of
many companies towards concentrating on hypermarkets and grocery stores as distribution
channels for medication can aid the market’s growth within the region.
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Geographical Segmentation:
On the concept of geography, the Latin America market is examined as varied regions like
Brazil, Argentina, and Mexico. The increasing health care costs is positively calculated to steer
to the patients in selecting over the counter medication rather than consulting physicians,
which can definitely fuel the market growth.
The top market players on the regional market scape include laxoSmithKline, Johnson and
Johnson, Novartis, Bayer, Pfizer, Sanofi and Takeda.
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Latin America Over The Counter (OTC) Drugs Market By Product Type (Analgesics, Cough, Cold And Flu Products, Dermatological Products, Gastrointestinal Products, Vitamins, Minerals