2012-10-26 05:27:23 - New Healthcare research report from Business Monitor International is now available from Fast Market Research
BMI View: Pharmaceutical companies will continue to look to fast growing emerging markets for revenue growth, and we believe that Latin American economies, with rising incomes, ageing populations and increased spending on healthcare will provide significant opportunities. Indeed, it is our view that emerging markets will be the main drivers of the pharmaceutical sector's expansion over the coming years as growth in traditional markets such as the US, Western Europe and Japan remains lacklustre. We note however, that imported patented and high-cost drugs, mostly originating from Europe and the US, account for a significant portion of the Latin American pharmaceutical market in terms of value.
Full Report Details at
- www.fastmr.com/prod/479393_chile_pharmaceuticals_healthcare_repo ..
Headline Expenditure Projections
* Pharmaceuticals: CLP1,508bn (US$3.12bn) in 2011 to
CLP1,642bn (US$3.22bn) in 2012; +8.9% in local currency terms and +3.3% in US dollar terms.
* Healthcare: CLP9,034bn (US$18.67bn) in 2011 to CLP9,941bn (US$19.49bn) in 2012; +10.0% in local currency terms and +4.4% in US dollar terms.
* Medical devices: CLP256.33bn (US$530mn) in 2011 to CLP267.45bn (US$525mn) in 2012; +4.3% in local currency terms and -1.0% in US dollar terms.
Risk/Reward Rating: In Q412's America's pharmaceutical risk/reward ratings (RRRs) matrix, Chile ranks in seventh place out of the 17 countries surveyed, scoring a total of 53.7 out of 100. We expect Chile, which has a favourable rewards profile, to climb up the regional matrix over the coming years as operational risks become addressed. In the Q412 RRRs, with regards to the country's attractiveness to innovative drug companies, Chile stands above Argentina and Peru and below Mexico and Brazil.
Key Trends And Developments
* Two military mobile hospital centres were installed in Santiago in late June 2012. The installation enables the treatment of respiratory diseases in the country as well as catering for the rise in demand for medical services. The Military Mobile Attention Centres will cater to additional patients during a winter of poor air quality that caused a rise in respiratory illnesses. The move also enables the country to get prepared for tackling the most agitated period in reference to respiratory illnesses, the syncytial virus, temperature changes and bad ventilation conditions, the country's President Sebastian Pinera said.
* In April 2012, the health commission of the Chamber of Deputies in Chile issued a vote on the bill that would permit over-the-counter sale of non-prescription drugs. However, the majority of the members of the parliament voted against the bill, according to the Chamber of Deputies. Moreover, the bill is also not supported by the two deputies of the commission - RN Karla Monckeberg Rubilar and Nicolas. Meanwhile, the government, through the bill, aims to increase competition in the sale of medicines, which will decrease lower prices and improve the access of medicines.
BMI Economic View: Although economic growth surprised to the upside in H112, we expect a slowdown in the second half of the year. Strong consumer demand is set to moderate in the face of declining industrial production and export levels, implying that a deteriorating external environment will gradually catch up with Chilean domestic demand. During the first half of 2012, strong retail sales have helped push the monthly IMACEC economic activity index higher, implying a robust economic performance in H112. However, we continue to forecast real GDP growth of 4.8% in 2012, which will mark a slowdown from 5.6% in 2011, and implying a weaker growth outlook for the second half of the year
BMI Political View: The election of the first centre-right government in two decades has caused a pronounced shift in Chilean politics. Market-friendly policies and strong institutions have been the hallmark of the Chilean polity in recent years, and we believe Sebastian Pinera's administration will continue to set the benchmark for political stability in the region as the country progresses towards developed economy status. That said, there is a risk that the political landscape could fracture over the longer term if the leading parties fail to reconnect with an increasingly disillusioned electorate.
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