The Outlook for Pharmaceuticals in Latin America to 2013

Abstract

The eight leading Latin American pharmaceutical markets are expected to grow by a CAGR of 9.9% between 2008 and 2013, outpacing the slowing North American markets. Each country report provides a comprehensive analysis of the pharmaceutical market, including five-year market forecasts. For each country you will receive 4 completely updated reports sent quarterly, plus a comprehensive report sent annually.

The pharmaceutical markets in Latin America are worth US$50 billion - and growing fast!

The eight Latin American markets covered by Espicom Business Intelligence represent a market of 474 million people with a GDP of US$3.4 trillion in 2008. The region is better prepared to face global instability than in the past but economic growth is expected to slow down in 2009 and 2010, after a recent period of remarkable growth. Access to medicines in the public sector has increased, particularly among the least well-off population, with initiatives such as Remediar in Argentina, PAC Saúde in Brazil, Auge in Chile, Seguro Popular in Mexico and Barrio Adentro in Venezuela. Governments are using their bargaining power to negotiate - and centralise - drug purchases in an effort to contain costs. At a regional level, MERCOSUR members have decided to establish a drug price database to compare and monitor drug prices. Overall, public drug expenditure in the region will continue to rise, as there is a considerable level of unfulfilled demand.

Private pharmacy sales are surging, as countries such as Brazil, Mexico and Venezuela have higher disposable incomes in a climate of macroeconomic stability. Innovative drug prices have risen, but governments have started to control them, either directly or indirectly. Contrary to what has happened in developed markets, generics consumption in Latin America is low, with the exception of Brazil. Local protectionism, very low prices and high production capabilities have helped the country to develop a sizeable bioequivalent generics market which has proved tough for foreign generics producers. In Mexico, Calderon' s government has started a renewal process for drug registrations, and it is expected that there will only be patented and bioequivalent generics by 2010. For the time being, however, Mexico remains on the 2008 USTR Watch List. The region is also facing a growing incidence of drug counterfeting, but initiatives are in place to control it.

Attractive opportunities remain in Latin America. The eight pharmaceutical markets covered by Espicom Business Intelligence will represent a value of US$80 billion at retail prices in 2013. With nearly twice the population of Mexico and a GDP of US$1.4 trillion, Brazil is the largest market. Economic stability and the depreciation of the US dollar are helping to bring private pharmacy sales to record figures in the country. Mexico is the second leading drug market, whilst Argentina and Venezuela each represent about a quarter and a third of the Brazilian and Mexican drug markets. Local producers are strengthening their manufacturing capabilities in order to maximise their export markets, particularly in other neighbouring Latin American countries. Combined domestic production represents about half of the regional market. Imports are valued at over US$10 billion but low exports contribute to a deficit in the pharmaceutical balance of trade of US$7 billion.

These reports analyse the issues That is why Espicom Business Intelligence has published these new management reports: The Outlook for Pharmaceuticals in Latin America to 2013. Each report provides an individual and highly-detailed analysis of each market, looking at the key regulatory, political, economic and corporate developments in the wider context of market structure, service and access. The reports are available individually or as a discounted collection, and prices include 4 completely updated reports sent quarterly plus a comprehensive annual review.

8 Major Markets Covered!

• Argentina
• Brazil
• Chile
• Colombia
• Cuba
• Mexico
• Peru
• Venezuela

FOR EVERY MARKET, SENT QUARTERLY

MARKET OUTLOOK

• Current market size
• Unique 5-Year market projections to 2013
• Market outlook
• Comment & rating, covering 8 key areas such as use of generic drugs, intellectual property, pricing and the health systems
• Market structure
• Statistical data on imports and exports
• Market developments, covering recent and impending developments with respect to key issues such as regulation, health facilities, funding and government policy
• Key national data projections

FOR EVERY MARKET, SENT ANNUALLY

BACKGROUND DATA

• Population data, including growth trends and age structure
• Demographic indicators detailing principal causes of death and morbidity

HEALTHCARE SYSTEM

• Organisation & administration
• Health expenditure
  • - Expenditure by source of funding and type
• Hospital services
  • - Hospital data such as beds by type, region, specialty, patient admissions and surgical procedures
• Outpatient care
• Medical personnel
  • - Data on healthcare professionals covering such areas as doctors by specialty, nursing staff and dentists

ACCESSING THE PHARMA MARKET

• Regulatory environment
• Distribution and trade fair information
• Domestic production
• Company information