The Argentinian pharmaceutical market is the third largest pharmaceutical market in Latin America after Brazil and Mexico, and it accounts for 16% of the Latin American pharmaceutical market. The market was valued at 5.2 billion $ in 2021, and is at a growing rate of 5.4% CAGR since 2018. Argentina is one of the few countries in the world where the locally-owned laboratories’ presence and share in the domestic market are higher than the multinational laboratories, and currently 70% of pharmaceutical production in Argentina is generated by national laboratories.
In 2020 pharmaceutical imports to Argentina amounted to 2.2B$, a 2% decline from 2019, while exports amounted to 720M$, a 2.8% increase from 2019. This gap leaves a negative trade balance currently standing at -1.48B$, yet the market trend seems to be slowly aiming at a balance. Of the 2.2B$ in imports, roughly 700M$ (32%) account for biological medicines, while the remaining 1.5B$ (68%) account for the import of traditional medicines. Of the 720M$ exported, about 85M$ (11%) account for biological medicines, while 635M$ (89%) account for traditional medicines. Over the past decade there has been a major growth in the import of biological drugs, starting at 420M$ in 2010, this market has grown by a CAGR of 4.2% and is expected to continue along the same trend for the years to come.
There are over 70 biotech companies in Argentina developing human drugs showing the strong backbone and infrastructure in the development of generics and biosimilars. Many of these companies are exporters to emerging markets – mainly in Asia.
Pharma14 covers the Argentina market extensively. Monthly tracking of all marketing authorizations, pricing and manufacturing data.
Sample data: Argentina Lenalidomide 10 mg.
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