2013-12-25 21:40:22 - Recently published research from Business Monitor International, "Colombia Pharmaceuticals & Healthcare Report Q1 2014", is now available at Fast Market Research
We continue to expect steady growth of the Colombian pharmaceutical market over the five years to 2017. Volume demand - from both demographic and epidemiological points of view - will continue to play an important role in the market development. On the down side, increased focus on cost-containment and persistent intellectual property (IP) shortcomings and market barriers will - to a degree -continue to detract from investment by more risk-averse patented drug makers.
Headline Expenditure Projections
* Pharmaceuticals: COP7,588bn (US$4.22bn) in 2012 to COP8,136bn (US$4.34bn) in 2013; +7.2% in local currency terms and +2.9% in US dollar terms. Forecasts broadly unchanged in relation to the previous quarter.
* Healthcare: COP40,230bn (US$22.39bn) in 2012 to COP43,227bn (US$23.08bn) in 2013; +7.4% in local
currency terms and +3.1% in US dollar terms. Forecasts broadly unchanged in relation to the previous quarter.
Full Report Details at
- www.fastmr.com/prod/754504_colombia_pharmaceuticals_healthcare_r ..
Risk/Reward Rating: In our Q114 regional RRR assessment, Colombia moved up from eight to seventh out of 18 markets surveyed in the Americas region. Colombia boasts above-average Rewards and Risks. Although we caution that the country's intellectual property (IP) regime and that its unresolved security situation will continue to represent barriers to multinational involvement, Colombia will continue to be of interest from the longer-term point of view, not least on account of its substantial population numbers.
Key Trends And Developments
* In October 2013, Canadian Cardiome Pharma Corp's subsidiary, Cardiome Development, entered into an agreement with Colombian Biospifar S.A., under which Biospifar will sell and distribute the former's Brinavess (vernakalant intravenous) - indicated for the rapid conversion of recent onset atrial fibrillation to sinus rhythm in adults - in Colombia on an exclusive basis. Under the terms of the agreement, Biospifar has agreed to specific annual commercial goals, although financial details of the agreement have not been disclosed.
BMI Economic View: We forecast Colombian real GDP to expand by 4.1% in 2013 and 4.3% in 2014, up from 4.0% in 2012. However, ongoing labour disruptions to exports pose downside risks to our medium-term growth outlook. We maintain a favourable long-term growth outlook, as investment into the infrastructure and oil and gas sectors, combined with a strengthening consumer, will drive robust real GDP growth in the coming years.
BMI Political View: The recent quarters have witnessed a sharp uptick in the number of attacks on Colombia's oil and gas infrastructure. While the government continues to press ahead with peace talks with the insurgent group Fuerzas Armadas Revolucionarias de Colombia (FARC), we remain sceptical that this will yield a dramatic improvement in the short-to-medium term. As such, while the country remains one of our favourite markets in the region overall, this only reinforces our stance that security concerns are likely to remain a persistent risk.
Partial Table of Contents:
BMI Industry View
- Business Environment
- Pharmaceutical Market Forecast
- Table: Colombia Pharmaceutical Sales, Historical Data and Forecasts
- Healthcare Market Forecast
- Table: Colombia Healthcare Expenditure Trends, Historical Data and Forecasts
- Table: Colombia Government Healthcare Expenditure Trends, Historical Data and Forecasts
- Table: Colombia Private Healthcare Expenditure Trends, Historical Data and Forecasts
- Prescription Drug Market Forecast
- Table: Colombia Prescription Drug Market Indicators, Historical Data and Forecasts
- Patented Drug Market Forecast
- Table: Colombia Patented Drug Market Indicators, Historical Data and Forecasts
- Generic Drug Market Forecast
- Table: Colombia Generics Drug Market Indicators, Historical Data and Forecasts
- OTC Medicine Market Forecast
- Table: Colombia Over-The-Counter (OTC) Medicine Market Indicators, Historical Data and Forecasts
- Pharmaceutical Trade Forecast
- Table: Colombia Pharmaceutical Trade Data And Forecasts (US$mn)
- Table: Colombia Pharmaceutical Trade Data And Forecasts (COPmn)
- Other Healthcare Data
- Key Risks To BMI's Forecast Scenario
- Economic Analysis
- Table: Colombia - Gdp By Expenditure, Real Growth %
Industry Risk Reward Ratings
- Americas Risk/Reward Ratings
- Colombia Risk/Reward Ratings
Industry Trends And Developments
- Healthcare Sector
- Healthcare Insurance
- Private Health Insurance
- Healthcare Insurance Funding
- Research and Development (R&D)
- Table: Pharmaceutical Research and Science Centre (CECIF) Members, 2012
- Clinical Trials
- Intellectual Property Regime
- Intellectual Property Shortcomings
- Table: Colombia-US FTA Mechanisms Relevant To Intellectual Property
- Pricing Regime
- Table: New Drug Pricing Classification by Type, 2005
- Reimbursement Regime
- Pharmaceutical Industry
- Domestic Pharmaceutical Sector
- Foreign Pharmaceutical Sector
- Table: Members Of Asociacion De Laboratorios Farmaceuticos De Investigacion (AFIDRO), 2012
Full Table of Contents is available at:
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