Pharmaceuticals - Argentina

Argentina

The Pharmaceuticals market in Argentina is estimated to generate a revenue of €3.95bn in 2024.
Among the various markets, the largest one is Oncology Drugs, which is projected to have a market volume of €0.64bn in the same year.
Looking at the future, the revenue is expected to grow at an annual growth rate (CAGR 2024-2029) of 3.09%, resulting in a market volume of €4.60bn by 2029.
It is worth noting that, in comparison to other countries, United States is expected to generate the highest revenue in the Pharmaceuticals market, reaching a staggering €578.50bn in 2024.
Argentina's pharmaceutical market is experiencing a surge in demand for generic drugs due to increasing healthcare costs.

Key regions: United States, China, Germany, Japan, Europe

Definition:
The Pharmaceuticals market covers remedies used to cure, treat, prevent, and diagnose diseases. These small molecule drugs or biologic medical products may be called drugs, medications, or medicines. Prescription drugs and over-the-counter (OTC) drugs are both included. Next generation therapies are also part of the Pharmaceuticals market and include gene therapy, cell therapy, and nucleic acid therapy. Cell therapies involve the use of living cells to replace or repair damaged tissues within the patient's body, or to modify cells to perform specific functions. Gene therapies focus on altering a patient’s genetic material to regulate the production of certain proteins. Nucleic acid therapies use short strands of DNA or RNA to inhibit the production of harmful proteins associated with diseases and promote the generation of therapeutic proteins. Depending on the regulations in each country, these products are provided by pharmacies, hospitals, physicians, and/or drug stores, and/or they can be bought elsewhere. They may be administered in the form of pills, capsules, gels, ointments, injections, infusions, lozenges, or aerosols/sprays.

Structure:
The market is subdivided into Oncology Drugs, Anti-Diabetes Drugs, Anti-Rheumatic Drugs, Vaccines, Dermatological Drugs, Antiviral Drugs, Immunosuppressants, Bronchodilator Drugs, Sensory Organ Drugs, Anti-Hypertensive Drugs, Anti-Coagulants, Anti-Fibrinolytic Drugs, Multiple Sclerosis Drugs, Lipid-Lowering Agents and Other Pharmaceuticals. The Pharmaceuticals market is organized in markets that cover drugs used in specific medical fields, i.e., medicines for a specific disesase or a certain type of medicine. They include original brands, biosimilars, generics, and orphan drugs.The Oncology Drugs market covers pharmaceutical products specifically developed for the treatment and management of various cancers. The Anti-Diabetes Drugs market covers medications designed to manage blood glucose levels and improve insulin sensitivity in individuals with diabetes. The market Anti-Rheumatic Drugs includes pharmaceuticals specifically developed to alleviate symptoms, reduce inflammation, and modify the progression of rheumatic diseases. The Dermatological Drugs market covers pharmaceuticals formulated to treat and manage a wide range of skin conditions such as eczema, acne, and rosacea. The Antiviral Drugs market includes medications designed to treat viral infections and reducing the severity and duration of symptoms. The Immunosuppressants market covers pharmaceuticals that suppress the immune system's activity. The Bronchodilator Drugs market covers pharmaceuticals designed to relax and widen the airways in the lungs. The Sensory Organ Drugs market covers pharmaceuticals targeting the treatment of disorders and conditions affecting sensory organs such as the eyes, ears and nose. The Anti-hypertensive Drugs market covers pharmaceuticals designed to lower blood pressure levels. The Anti-Coagulants Drugs market covers pharmaceuticals developed to prevent the formation of blood clots or to dissolve existing clots. The Anti-Fibrinolytics Drugs market covers pharmaceuticals designed to inhibit the breakdown of blood clots. The Multiple Sclerosis Drugs market covers pharmaceuticals aimed at managing and modifying the course of multiple sclerosis. The Lipid-Lowering Agents market covers pharmaceuticals developed to reduce levels of cholesterol and other lipids in the blood. The Other Pharmaceuticals market provides information on additional specialties that are not covered by the main markets.

Additional information:
Market values represent the revenues generated by manufacture prices paid to primary vendors, either directly or through distribution channels (excluding VAT). Reported market revenues include spending by consumers (B2C), companies (B2B), and governments (B2G).

Company examples: Novartis, Roche, Pfizer, Merck & Co, Johnson & Johnson, AbbVie, Sanofi.

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Analyst Opinion

The Pharmaceuticals market in Argentina has been experiencing significant growth in recent years.

Customer preferences: One of the main factors driving the growth of the Pharmaceuticals market in Argentina is the increasing demand for healthcare products and services. As the population continues to age, there is a growing need for medications to treat chronic conditions such as diabetes, hypertension, and cardiovascular disease. Additionally, there is a rising demand for specialty drugs to treat rare diseases, which has led to increased investment in research and development by pharmaceutical companies.

Trends in the market: Another key trend in the Pharmaceuticals market in Argentina is the growing popularity of generic drugs. With rising healthcare costs, many consumers are looking for more affordable options when it comes to their medications. This has led to an increase in the production and consumption of generic drugs, which are often much cheaper than their brand-name counterparts. Additionally, there is a growing trend towards the use of biologic drugs, which are made from living cells and are often used to treat complex conditions such as cancer and autoimmune diseases.

Local special circumstances: One of the unique aspects of the Pharmaceuticals market in Argentina is the country's strong tradition of public healthcare. The government plays a significant role in regulating the industry and providing access to medications for its citizens. This has led to a complex system of price controls and subsidies, which can make it difficult for pharmaceutical companies to operate profitably in the market. Additionally, there are strict regulations around the advertising and promotion of drugs, which can limit the ability of companies to market their products to consumers.

Underlying macroeconomic factors: The growth of the Pharmaceuticals market in Argentina is also being driven by a number of macroeconomic factors. For example, the country's growing middle class has more disposable income to spend on healthcare products and services. Additionally, the government has made significant investments in healthcare infrastructure in recent years, which has helped to improve access to medications and medical services. Finally, the country's strong tradition of scientific research and innovation has helped to attract investment from multinational pharmaceutical companies, which are looking to tap into the country's pool of talent and expertise.

Methodology

Data coverage:

Data encompasses B2B, B2G, and B2C spend. Figures are based on drug revenues allocated to the country where the money is spent. Monetary values are given at manufacturer price level excluding VAT.

Modeling approach / Market size:

Market sizes are determined by a top-down approach, based on a specific rationale for each market. As a basis for evaluating markets, we use financial information of the key players by market. Next, we use relevant key market indicators and data from country-specific associations, such as industry associations. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. For example, forecasts are based on historical developments, current trends, and key market indicators, using advanced statistical methods. The main driver is healthcare expenditure. Expiring patents and new drugs in the pipeline are also considered.

Additional notes:

Data is modeled in US$ using current exchange rates. The market is updated twice per year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level. This market comprises prescription drugs and all OTC drugs covered in the Statista OTC Pharmaceuticals market. However, in the OTC Pharmaceuticals market, revenues are based on end-consumer prices.