Brazil OTC Pharmaceuticals Market Analysis

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  • Type: Therapeutics Area
  • Published : May 2021
  • Region: LATAM
  • Country: Brazil
  • Report ID : 4522

  • Format: PPT, PDF

Brazil OTC Pharmaceuticals Market: Segmented by Product (Dermatological Products, Gastrointestinal Products, Ophthalmic Products, Sleep Aid Products and Weight Loss/Diet Products) and Distribution Channel (Pharmacies, Supermarkets/Hypermarkets, Convenience stores and Online Drug Stores) – Growth, Trends, and Forecasts (2019 – 2028)

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Report Overview

The Brazil OTC drug market size was valued at USD 4.5 billion in 2019 and is expected to expand up to xx billion, showing a CAGR of xx% during the forecast period.

OTC refers to over the counter drugs or non-prescription drugs. These types of drugs are safe for use without prescription. Brazil is the biggest market for OTC drugs because of its increasing population and Covid-19 pandemic, due to which people are resistive of going to hospitals for consultation, which has led to surge in their demand.

Market Drivers

Adoption of western lifestyle, over the counter product marketing and promotion and increased healthcare spending are some common market boosters.

But main growth drivers are, growth of middle class and higher disposable income of the population. Accessibility of retail channel and supermarket is another important factor, which affects the growth in rural areas majorly. Lower cost of many such drugs is another reason for opting them. 

Market restraints

The present competition in market is a major hindrance. Also, there’s a higher likelihood of substance abuse because of lack of awareness, majorly in rural population of country. Misdiagnosis is another factor which has led to its unpopularity in market.

1. Brazil OTC Pharmaceuticals Market Overview…………………………………………..
A. Market Size
2. Market Growth Drivers ………………………………………………………………….
A. Growth of middle class and higher disposable income
B. Accessibility of retail channel
C. Lower cost of drugs
3. Market Restraints
A. Market competition
B. Substance abuse
C. Misdiagnoses
4. Brazil OTC Pharmaceuticals Market Segmentation……………………………………
A. Type of Products
I. Cough, Cold, and Flu Products
II. Analgesics
III. Dermatology Products
IV. Gastrointestinal Products
V. Vitamins, Mineral, and Supplements (VMS)
VI. Weight-loss/Dietary Products
VII. Ophthalmic Products
VIII. Sleeping Aids
B. Distribution Channel
I. Pharmacies
II. Supermarkets/Hypermarkets
III. Convenience stores
IV. Online Drug Stores
5. Brazil OTC Pharmaceuticals Major Products Market Share……………..………
A. Market Analysis, Insights and Forecast – By Revenue
6. Competitive Landscape…………………………………………………………………
A. Major Players
B. Products in Pipeline
7. Key Company Profiles…………………………………………………………………..
A. GlaxoSmithKline company overview, Product & Services, Strategies & Financials
B. Pfizer company overview, Product & Services, Strategies & Financials
C. Bayer company overview, Product & Services, Strategies & Financials
8. Healthcare Policies and Regulatory Landscape……………………………………
A. Policy changes and Reimbursement scenario
9. Factors Driving Future Growth…………………………………………………………
A. New Trends and Development of OTC Pharmaceuticals Market
B. Future Opportunities
10. Conclusion

Market Segmentation

By Type of Product:

In Brazil, the demand for weight loss and diet products is increasing exponentially, reason being the adoption of unhealthy lifestyle. Almost a quarter of market belongs to VMS and other OTC weight loss drugs. This is mainly due to increased consumption of junk food and increased public awareness, which has led to increase in diseases related to lifestyle.

By Distribution Channel:

Based on the distribution channel, the market is segmented into pharmacies, supermarkets, convenience stores and e-stores. Based on the current trends, the major distribution is done by pharmacy stores, due to which many major players are trying to expand in the market.

Another important development is that Brazilian pharmacy chains are investing in expansion to e-stores network in pandemic times, increasing more stores and using them to improve back end processes, supporting digital sales.

Major Players

Prominent players in the market are GlaxoSmithKline, Pfizer, Johnson and Johnson, Bayer, Novartis, etc. High enrolment rates, lower labour costs and improving regulation are creating an attractive centre for new market players.

Research Methodology

Insights10 will provide you reports within 10 key parameters which are:

  1. Market overview
  2. Market growth drivers & restraints
  3. Epidemiology or disease type
  4. Market segmentation
  5. Market share
  6. Competitive landscape
  7. Key company profiles
  8. Healthcare policies & regulatory framework
  9. Reimbursement scenario
  10. Factors driving future growth

Based on our many years of experience, we believe that these are the parameters that are critical to decision making for business stakeholders. Our focused approach to develop reports focused on 10 key parameters, enabled us to arrive at the name “Insights10”.

Our analysis methodology involves three critical stages:

Stage I: Market Data Collection

Primary Interviews: We have developed a network of experts, freelancers and researchers across countries through which we engage with local experts to gather key data points and assumptions around each market. We also engage regularly with some of the best market research agencies such as Atheneum, GuidePoint, GLG, etc. to conduct surveys and interviews, and build intelligence. We have language translators as a part of our team, who between them can cover 30+ languages allowing us to extract better local insights.

Secondary Data Collection: We have developed strong expertise and experience in secondary data collection methods for developing unique data sets and research material. We gather data from multiple reliable sources to maintain the high level of accuracy and consistency. The market data is analysed and forecasted using appropriate statistical and coherent models. The report offers an overall analysis of the market size, growth, market share as well as segment-level analysis of the specific market. Our report includes precise, to the point information related to the overall market, competition, growth drivers, challenges, regulatory updates, and competition.

Data Sources: We have access to multiple highly reliable free and subscription data sources. We have many years of experience to understand which sources are more dependable for what and which to prefer for the reliable and latest information. The key sources of information include the following, but are not limited to:

  • Statistical Databases
  • Company Websites/Annual Reports
  • Trade Publications
  • Online Databases
  • Published Research Reports
  • Whitepapers
  • Press Releases of Key Market Players

Stage II: Market Data Analysis and Statistical Model

Market Trends: We generally look at macro parameter and micro indicators. The macro parameters includes changes in government policies, demand and supply of the market, government intervention programs and major market share. The micro indicators GDP growth, market size, market volume etc. We also understand nuances specific to each country like US, Canada, India, Germany, etc. and have worked across 60+ countries and hence no only understand global trends, but how these differ by country, how payment models, market structure, cultural parameters, etc. differ in each country.

Market Sizing and Analysis: Our expert data analytics team has created various market forecast models by employing the top-down approach i.e. start with large overall market and segment different areas and bottom-up approach i.e. start with population and epidemiology and roll up based on spend, etc., estimating the size of the market, and distributing among the geographic and/or product segments.

The top-down approach mainly used for new product forecasting and bottom-up approach is used for demand estimation of any product for different countries summed up to form total market. We are able to round off insights and build stronger forecasts because we always do both these methods and triangulate the final numbers.

The study on the market covers the analysis of the leading geographies such as North America, Europe, Asia-Pacific, and Africa for the period of 2020 to 2028. The qualitative analysis covers the industry landscape and trends, market opportunities, competitive landscape and policy and regulatory scenario and the quantitative analysis covers different market estimates and forecasts.

Data Triangulation & Validation:

Data triangulation of various sources and results of the research are carried out by benchmarking with reliable sources such as industry statistics, statistical databases and the company level averages etc.

We make sure to finalize the numbers in alignment to the market research. Firstly, our internal experts ensure thorough validation and checking to ensure the accurate and precise analysis and then validation is also done using multiple data analysis model.  Two level validation is done and entails finalization of report scope and to way of representation pattern.

Stage III: Interpretation and Presentation

Analysis & Interpretation: The information gathered is then analysed and synthesized. A second series of interviews are done if necessary to check and validate. The future opportunities are analysed by understanding product commercialization and many other factors. It also comprises the analysis of data discrepancies observed across various data sources. Information procured from secondary and primary results are then, interpreted by considering following parameters: (a partial list)

  • Establishing market drivers and trends
  • Analyzing regulatory landscape to understand future growth
  • Market Segment based analysis to obtain revenue / volume
  • Analyzing current needs and determining penetration to estimate market

Insights: Our reports deliver actionable insights backed with supporting facts and figures to assist you in achieving exemplary growth. Our in-depth analyses are interspersed with relevant insights and statistics to offer an executive-level view of a given market. The description helps in correlating many minor factors affecting the market and its impact to the different segments within the market.
Data curated from the analysis and interpretation are drawn to portray all in one consolidated report.

Presentation & Reporting: The market research report is presented in different forms such as charts by using a scientific approach for easy understanding. Historic, current and future analysis is provided for each market in terms of both value and volume. The size of the market is interpreted in the US Dollar value and the respective unit, based on the product, for volume consumptions.
The foreign exchange rates are calculated on the respective dates and for the respective regions covered in the study.

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