Consumer Health in Latin America

April 2024

Emerging from the pandemic, Latin America moved into a period of high inflation, with both factors hitting consumer health sales in 2022. The large Brazilian market was facing new health challenges in the form of arboviruses, especially dengue, in 2023 as climatic conditions conspired to contribute to the proliferation of insects. In Mexico, consumers moved away from prevention into a more reactive mode, waiting for symptoms to manifest, hitting sales of vitamins and dietary supplements in 2023.

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This report comes in PPT.

Key Findings

Dengue a concern in Brazil in 2023

Concerns in Brazil moved on from COVID-19 to arboviruses, and dengue in particular, in 2023. Heat followed by rain provided the perfect conditions for the proliferation of insects, especially mosquitoes, with 1.6 million cases of dengue recorded in Brazil in 2023. With specialists recommending acetaminophen and dipyrone to relieve symptoms, this helped these products to maintain the high sales levels they had reached during the pandemic.

Less emphasis on preventative care post-pandemic in Mexico

Preventative health care boosted vitamins and dietary supplements sales in Mexico during the pandemic. However, as Mexicans take a more reactive approach to their health, treating any symptoms as they appear, they have been prioritising spending on things like entertainment, leisure or travel. For the less well-off, inflation has also been biting into purchasing power. Sales of vitamins and dietary supplements were therefore declining in Mexico in 2022 and 2023.

Pharmacies still the main sales channel in Latin America

With medicines only allowed to be sold through pharmacies, and OTC products accounting for around 60% of Brazilian consumer health sales, this channel still accounts for more than 80% of retail value in this country. However, pharmacies are increasingly buying into the digital sphere, with e-commerce reaching a share of 7% in Brazil and 5% regionally in 2023

Sports nutrition to see the fastest forecast period growth

Consumption of sports nutrition products is expected to continue increasing in the coming years, driven by rising demand among its traditional customer base of athletes, gym-goers, fitness enthusiasts and bodybuilders, as well as expanding usage among non-traditional users, which will bring such products into the mainstream, including among older consumers looking for the protein intake to help maintain muscle mass as they age.


Key findings
Latin America expected to be the most dynamic region over 2023-2028
Post-pandemic dip and high inflation combine to impact growth in 2022
Overall OTC has the biggest share of Latin American consumer health sales
Dengue proves to be a problem in post-pandemic Brazil in 2023
Vitamins and dietary supplements declining in Mexico in 2023
Vitamins and dietary supplements dominate the new sales added over 2018-2023
Sports nutrition performing strongly in Brazil post-pandemic
Pharmacies the leading consumer health retail distribution channel
Direct selling continues to lose share
Relatively fragmented competitive landscapes across the region
Genomma Lab secures loan to expand its OTC medications across the region
Leading players tend to be present across much of the region
Brazilian sports nutrition brand Integralmédica moves up the brand rankings
Healthy growth rates expected in real value terms throughout 2023-2028
Phygital world offers interesting opportunities for pharmacies
Argentina: Market Context
Argentina: Competitive and Retail Landscape
Bolivia: Market Context
Bolivia: Competitive and Retail Landscape
Brazil: Market Context
Brazil: Competitive and Retail Landscape
Chile: Market Context
Chile: Competitive and Retail Landscape
Colombia: Market Context
Colombia: Competitive and Retail Landscape
Costa Rica: Market Context
Costa Rica: Competitive and Retail Landscape
Dominican Republic: Market Context
Dominican Republic: Competitive and Retail Landscape
Ecuador: Market Context
Ecuador: Competitive and Retail Landscape
Guatemala: Market Context
Guatemala: Competitive and Retail Landscape
Mexico: Market Context
Mexico: Competitive and Retail Landscape
Peru: Market Context
Peru: Competitive and Retail Landscape
Uruguay: Market Context
Uruguay: Competitive and Retail Landscape

Consumer Health

It is the aggregation of OTC, Vitamins and Dietary Supplements (VDS), Sports Nutrition, and Weight Management and Wellbeing

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