Argentina Pharmaceuticals Market By Drug Type (Generic, Branded drugs), By Product Type (Over-The-Counter Drugs, Prescription Drugs), By Application (Cardiovascular, Oncology, Metabolic Disorder, Musculoskeletal, Anti-infective, and Others), By Distributi

Argentina Pharmaceuticals Market By Drug Type (Generic, Branded drugs), By Product Type (Over-The-Counter Drugs, Prescription Drugs), By Application (Cardiovascular, Oncology, Metabolic Disorder, Musculoskeletal, Anti-infective, and Others), By Distribution Channel (Retail Pharmacy, Hospital Pharmacy, and E-Pharmacy), and By Region, Competition, Forecast and Opportunities, 2028F

Argentina pharmaceuticals market is anticipated to witness impressive growth during the forecast period. This can be ascribed to the growing demand for healthcare because it maintains improved health outcomes, increased lifespan, economic benefits, improved quality of life, social and mental benefits along with growing demand for healthy lifestyle as daily routine for health benefits. Also, increasing prevalence of chronic diseases such as diabetes, hypertension, and cancer is increasing, leading to a higher demand for pharmaceutical products to manage and treat these conditions and this is expected to create a lucrative growth of Argentina pharmaceuticals market during the forecast period. According to Statistics Argentina, as of 1994, the import was 6.9% of medicine. In 2020, the import of medicine reaches to 30%. As the population of Argentina continue to grow, so does the demand for pharmaceutical product. As per report by world bank the population of Argentina in 2010 was 4.08Cr and in 2021 it reaches to 4.58Cr.

Healthcare spending increases in Argentina, so does the demand for pharmaceuticals, as they are a crucial component of healthcare services. In 2019, the average spending of Argentina on healthcare was USD 946, which is 9.51% of GDP. Also, the pharmaceutical companies have the potential to export its global market which could increase revenue and drives the growth of Argentina pharmaceutical market.

Increasing Demand for Healthcare

The rising population and increasing life expectancy in Argentina have led to a greater demand for healthcare services, including pharmaceuticals. As more people seek access to healthcare services, there is a corresponding increase in the demand for pharmaceuticals to support the provision of healthcare and it is expected to drive the Argentina pharmaceutical market.

As more people seek access to healthcare services, there is a corresponding increase in the demand for prescription drugs to treat various illnesses and conditions. As per data of 2018 the distribution of medicine Painkillers/Anti-inflammatories-59%, Antibiotics- 43%, Antiviral drugs-35%, Hypertension medicines-13%, Allergy medicine-11% Contraceptives-11%, Antacids-10%, Cholesterol medication-8%, Sleeping pills-7%, Sedatives-6%, Anxiolytics-3% Antidepressants-3%, Lexatives-2% and others were 7%.

The growing demand for healthcare services has led to an increase in healthcare expenditure, including spending on pharmaceuticals. In 2017, Argentina spent USD 1530 on healthcare a 32.61% increase from 2016 and 2017 spending is 10.44% of GDP.

The prevalence of chronic diseases such as diabetes, hypertension, and cancer are increasing, leading to a higher demand for pharmaceuticals to manage and treat these conditions The rising demand for healthcare services is a major driving force in Argentina's pharmaceutical market, and this trend is expected to continue in the future years.

Growing Middle Class Population Promises The Growth Of Market

Argentina's increasing middle class is a significant driver of the pharmaceutical market, since it has raised demand for healthcare services, particularly pharmaceuticals. The growing middle class in Argentina has increased purchasing power, which has led to increased demand for pharmaceuticals. In 2021, the average median household income (PPP) was USD 40,094. Argentina's median household income (PPP) will be USD 31,385 in 2021, up 3.1% from the previous year. With higher incomes, the middle class has greater access to healthcare services, including pharmaceuticals, which has increased demand for the pharmaceuticals and drives the growth of Argentina Pharmaceutical Market.

The growing middle class has spurred innovation in the pharmaceutical industry, with companies investing in research and development to develop new and improved drugs to meet the needs of its demographic. the Inter-American Development Bank (BID) recently said 54.5% of Argentine households belonged to the middle class, ranking second after Uruguay where the number was of 55.8%.

Increase In Aging Population

The increasing aging population in Argentina is a major driver of the pharmaceutical market, as it has led to increased demand for healthcare services and pharmaceuticals the present aging population of Argentina is 5,114,599 which is 11.02% of total population people above 64 years age out of which 2,107,649 males and 3,006,950 females in Argentina the rate of Aging population will increase from 11.4% to 17.3%.

As people age, they are more likely to develop chronic conditions such as arthritis, dementia, and cardiovascular diseases, leading to an increased demand for medications to manage these conditions. The Inter-American Development Bank (IDB) authorized a USD150 million loan to assist Argentina in reducing the number of deaths caused by cardiovascular events and other chronic diseases, with a particular focus on persons without health insurance.

The aging population has led to a higher prevalence of chronic diseases such as diabetes, hypertension, and cancer, which has driven demand for pharmaceuticals to manage and treat these conditions. Tumors and Cardiovascular disease caused 46% of death out of which 29% of people are above 70 years or younger. The aging population requires more healthcare services, including prescription drugs, which has led to increased healthcare expenditure and higher demand for pharmaceuticals, anticipating the growth of Argentina pharmaceutical market.

Market Segmentation

The Argentina pharmaceutical market can be segmented by drug type, product type, application, distribution channel, and region. Based on drug type, the market can be segmented into generic drugs and branded drugs. Based on product type, the market can be segmented into over-the-counter drugs and prescription drugs. Based on application, the market can be grouped into cardiovascular, oncology, metabolic disorder, musculoskeletal, anti-infective, and others. Based on distribution, the market can be grouped into retail pharmacy, hospital pharmacy, and e-pharmacy.

Market Players

Roemmers Inc, ELEA Phoenix S.A., Gador S.A, Casasco & Nardi SpA, Montpellier Holdings Ltd, BAGO Do Basil S.A, Baliarda S.A., and Novartis Pharma AG/Argentina are some of the leading players operating in the Argentina pharmaceutical market.

Report Scope:

In this report, the Argentina pharmaceutical market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

• Argentina Pharmaceutical Market, By Drug Type:
• Generic Drugs
• Branded Drugs
• Argentina Pharmaceutical Market, By Product Type:
• Over-The-Counter Drugs
• Prescription Drugs
• Argentina Pharmaceutical Market, By Application:
• Cardiovascular
• Oncology
• Metabolic Disorder
• Musculoskeletal
• Anti-infective
• Others
• Argentina Pharmaceutical Market, By Distribution Channel:
• Retail Pharmacy
• Hospital Pharmacy
• E-Pharmacy
• Argentina Pharmaceutical Market, By Region:
• Pampas
• Litoral
• Northwest
• Sierras
• Others (Cuyo, Patagonia, etc.)

Competitive Landscape
Company Profiles: Detailed analysis of the major companies present Argentina pharmaceutical market.

Company Information

• Detailed analysis and profiling of additional market players (up to five).

Please Note: Report will be updated with the latest data and delivered to you within 3-5 working days of order. Single User license will be delivered in PDF format without printing rights