Healthy Growth In Latin American Pharma Market

In Latin America, the consumer health care market, including prescription pharmaceuticals, over-the-counter medicines and consumption of self-medication products, totalled $17.37 billion in 1995, representing an increase of 86.6% over 1991, according to a new report entitled Consumer Healthcare in Latin America, from international market analysts Euromonitor.

As a percentage of total consumer expenditure, health care product purchases jumped from 1.2% to 1.9% during the survey period. Euromonitor attributes this impressive market growth to price deregulation, lower import tariffs, higher-profile retail distribution and increased marketing of self-medication products throughout the region.

Brazil dominates the regional market, accounting for more than 42% of Latin American health care spending. Between 1991 and 1995, both Brazilian and Colombian health care markets experienced phenomenal growth rates of 145.7% and 139.1% respectively, the report shows.