Liquid Segment has the Largest Share of State of Finished Products in the South & Central America Pharmaceutical Fill and Finish Outsourcing Market during 2021–2028

According to our latest study on “South & Central America Pharmaceutical Fill and Finish Outsourcing Market Forecast to 2028 – COVID-19 Impact and Analysis – by State of Finished Products, and Content,” the market is projected to reach US$ 203.3 million by 2028 from US$ 132.9 million in 2021; it is expected to grow at a CAGR of 6.3% from 2021 to 2028. The report highlights trends prevailing in the market, and the drivers and restraints pertaining to the market growth. The growth of this market is estimated to grow owing to key driving factors such as the increase in demand for biopharmaceutical drugs, growing clinical developments, and development of biologics and biosimilars. However, complex processes and high cost of production critically impacts the growth of the market.

The pandemic has become the largest challenge to this region, as they are low-cost regions. For instance, due to the high uncertainty of the spread of COVID-19, the impact on Latin America is expected to be severe, given the continent’s exposure to China. These regions are widely dependent on the import of pharmaceutical and biopharmaceutical products. The lockdown situation in many countries has resulted in no trade in foreign countries. Thus, the countries in the South and Central America have started producing API in their domestic market. However, the cost of production was a challenge for several countries. According to the Brazilian Association of Generic Medicines Industries (PróGenlicos), 75% of the pharmaceutical product is done domestically. However, it is widely dependent on the imports of APIs. The rise in the dollar has created a vital challenge for the manufacturers in the country. Therefore, the government is collaborating with the private market player to supply vaccines against COVID–19.

Based on state of finished products, the liquid segment is expected to register the largest market share during the forecast period. Moreover, the same segment is estimated to register the highest CAGR during the forecast period. In 2021, the liquid segment accounted for the highest share, moreover the same segment is expected to grow at a CAGR of 6.0% in the forecast period.

Abbott, TEVA PHARMACEUTICAL INDUSTRIES LTD, Dr. Reddy's Laboratories, Sun Pharmaceutical Industries Ltd, Piramal Enterprises Ltd., Cytovance Biologics, Thermo Fisher Scientific Inc. (Patheon N.V), and Boehringer Ingelheim International GmbH are among the leading companies in the South & Central America pharmaceutical fill and finish outsourcing market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market.

The market for pharmaceutical fill and finish outsourcing market is segmented into state of finished products and content. Based on state of finished products, the South & Central America pharmaceutical fill and finish outsourcing market is segmented into solids, semi-liquid and liquid. Based on content, the pharmaceutical fill and finish outsourcing market is segmented into organic substances isolated from animal origin, organic substances isolated from microorganisms, and inorganic substances. Geographically, the pharmaceutical fill and finish outsourcing market is segmented into South & Central America (Brazil, Argentina, Rest of South & Central America).

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