2013-10-11 12:54:44 - Fast Market Research recommends "Venezuela Pharmaceuticals & Healthcare Report Q4 2013" from Business Monitor International, now available
High inflation, currency devaluation, import and foreign currency controls, as well as other structurally distorting policies in Venezuela will continue to trouble the country's pharmaceutical market in Q413. We expect the market to grow below nominal GDP levels between 2012 and 2017, and experience a contraction in real growth terms. Low-cost generic drugs made in Cuba will continue to be an important resource for Venezuela to meet its local medicine demand.
Headline Expenditure Projections
* Pharmaceuticals: VEB43.5bn (US$10.1bn) in 2012 to VEB53.3bn (US$8.8bn) in 2013; +22.6% in local currency terms and -13.3% in US dollar terms. Forecast downwards from Q313.
* Healthcare: VEB86.7bn (US$20.2bn) in 2012 to VEB107.1bn (US$17.6bn) in 2013; +23.5% in local currency terms and -12.7% in US dollar
terms. Forecast up due to macro economic data changes.
Full Report Details at
- www.fastmr.com/prod/689092_venezuela_pharmaceuticals_healthcare_ ..
Venezuela comes ninth in BMI's RRR matrix for Q413 in America, which ranks pharmaceutical markets according to their attractiveness to multinational drugmakers. We have re-weighted the RRR components to improve the tool, and adjusted scores for all markets in the Pharmaceuticals and Healthcare reports. Venezuela's pharmaceutical market is expected to grow at double-digit rates through to 2022 in local currency terms, largely due to inflation..
Key Trends And Developments
* In July 2013, the Venezuelan government repaid a part of its outstanding debt (US$85mn) to the country's pharmaceutical industry, said Angel Marquez, the executive vice president of Venezuela's Chamber of the Pharmaceutical Industry. Debt worth US$265mn still remains unpaid, Marquez said. The country is not facing a paucity of medicines but the quality of some products was below standard, according to Marquez..
* In July 2013, Takeda, with a rapid growth rate of 59% in 2012, became the fastest growing pharmaceutical company in Venezuela, The company's high growth rate is attributed particularly to its operations in gastrointestinal field..
* In Q213, two shipments from Cuba carrying a total of about 408 tonnes of medicines reached Puerto Cabello, Venezuela. The first shipment carrying 324 tonnes of medicines arrived in the country on April 29 2013, while the second shipment with 84 tonnes of medicine reached the country on May 12 2013, data from magazine Informes revealed. According to figures from the National Statistics Institute, Venezuela's imports of Cuban drugs increased 10.6% year-on-year to US$324mn in 2012.
BMI Political View: Although social and political tensions have diminished in recent weeks in Venezuela, we still believe that President Nicolas Maduro's legitimacy will remain in doubt, and therefore do not rule out an early exit from office. Moreover, while a rapidly deteriorating economy increases pressure to implement more investor-friendly policies, we see changes only on the margins and expect high levels of government intervention to remain the norm.
BMI Economic View: We have made substantial downward revisions to our real GDP growth outlook on Venezuela, following the release of below-expectations Q113 data, which suggests that near-recessionary conditions will prevail in the economy this year. We now forecast real GDP growth to come in at 1.0% in 2013, down from our previous 2.6% estimate, and 2.1% in 2014, compared to 2.8% previously expected.
Partial Table of Contents:
BMI Industry View
- BMI Industry View
- Business Environment
- Pharmaceutical Market Forecast
- Table: Pharmaceutical Sales, 2009-2017
- Healthcare Market Forecast
- Table: Overall Healthcare Expenditure, 2009-2017
- Table: Government Healthcare Expenditure, 2009-2017
- Table: Private Healthcare Expenditure, 2009-2017
- Prescription Market Forecast
- Table: Prescription Drug Sales, 2009-2017
- Patented Drug Market Forecast
- Table: Patented Drug Sales, 2009-2017
- Generic Drugs Market Forecast
- Table: Generic Drug Sales, 2009-2017
- OTC Medicine Market Forecast
- Table: OTC Medicine Sales, 2009-2017
- Pharmaceutical Trade Forecast
- Table: Pharmaceutical Trade, 2009-2017 (US$)
- Table: Pharmaceutical Trade, 2009-2017 (VEB)
- Other Healthcare Data
- Key Risks To BMI's Forecast Scenario
- Macroeconomic Forecasts
- Table: Venezuela - Gdp By Expenditure, Real Growth %
Industry Risk Reward Ratings
- Americas Risk/Reward Ratings
- Venezuela Risk/Reward Ratings
- Market Overview
Industry Trends And Developments
- Industry Trends And Developments
- Healthcare Sector Developments
- Hospital Sector
- Private Healthcare Sector
- Supply Chain
- Research And Development
- Regulatory Development
- Regulatory Regime
- Intellectual Property
- Pharmaceutical Registration
- Biologics And Biosimilars
- Counterfeit Drugs
- International Collaboration
- Trade Agreements
- Pricing Regime
- Reimbursement Regime
- Competitive Landscape
- Pharmaceutical Sector
- Foreign Industry
- Domestic Industry
- Pharmaceutical Distribution
- Company Developments
- Grupo Farma
- Strides Latina (Sumifarma)
- Calox International
- Boehringer Ingelheim
- Merck & Co
Full Table of Contents is available at:
About Business Monitor International
Business Monitor International (BMI) offers a comprehensive range of products and services designed to help senior executives, analysts and researchers assess and better manage operating risks, and exploit business opportunities, across 175 markets. BMI offers three main areas of expertise: Country Risk BMI's country risk and macroeconomic forecast portfolio includes weekly financial market reports, monthly regional Monitors, and in-depth quarterly Business Forecast Reports. Industry Analysis BMI covers a total of 17 industry verticals through a portfolio of services, including in-depth quarterly Country Forecast Reports. View more research from Business Monitor International at www.fastmr.com/catalog/publishers.aspx?pubid=1010
About Fast Market Research
Fast Market Research is an online aggregator and distributor of market research and business information. We represent the world's top research publishers and analysts and provide quick and easy access to the best competitive intelligence available.
For more information about these or related research reports, please visit our website at www.fastmr.com
or call us at 1.800.844.8156.