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The pharmaceutical industry discovers, develops, produces, and markets drugs or pharmaceutical drugs for use as medications to be administered to patients (or self-administered), with the aim to cure them, vaccinate them, or alleviate symptoms. Pharmaceutical companies may deal in generic or brand medications and medical devices. They are subject to a variety of laws and regulations that govern the patenting, testing, safety, efficacy and marketing of drugs. The global pharmaceuticals market produced treatments worth $1,228. 45 billion in 2020 and showed a compound annual growth rate (CAGR) of 1. 8%.
Latin America is the portion of the Americas comprising countries and regions where Romance languages—languages that derived from Latin—such as Spanish, Portuguese, and French are predominantly spoken. The term was originally used to refer to places in the Americas that were ruled under the Spanish, Portuguese, and French empires. Latin America consists of 20 countries and 14 dependent territories that cover an area that stretches from Mexico to Tierra del Fuego and includes much of the Caribbean. It has an area of approximately 19,197,000 km2 (7,412,000 sq mi), almost 13% of the Earth's land surface area. As of March 2, 2020, the population of Latin America and the Caribbean was estimated at more than 652 million, and in 2019, Latin America had a combined nominal GDP of US$5,188,250 million and a GDP PPP of US$10,284,588 million. Countries in Latin America - Argentina, Bolivia, Brazil, Chile, Colombia, Costa Rica, Ecuador, El Salvador, Guatemala, Honduras, Mexico, Nicaragua, Panama, Paraguay, Peru, the Dominican Republic, Uruguay.