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Central America Pharmaceuticals and Healthcare Report Q2 2010

330

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Electronic License

Electronic License

An electronic version (mostly PDF, but can be Excel or PPT), which is either available for immediate download or will be sent via email by the Publisher of the report. The licencing for an electronic version is for use by the purchaser ONLY.

£330.00

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Market

Healthcare and Medical

Report Type

Market Research

Country

South America

Published

23 April 2010

Number of Pages

43

Report Delivery

Download

Delivery Lead Time

Immediate

Publisher

Business Monitor International

When taken as a whole, the pharmaceutical market of Central America is an attractive prospect for drugmakers. Combined sales of prescription drugs and over-the-counter (OTC) medicines are forecast to increase from US$2.35bn in 2009 to US$2.49bn in 2010. This equates to respectable 6.1% growth and makes Central America’s pharmaceutical market the sixth-largest in Latin America, behind Puerto Rico (US$2.71bn) and ahead of Colombia (US$2.24bn).

However, market access is challenging, mainly because the seven countries that comprise Central America lack regional harmonisation with respect to approvals, pricing and reimbursement. Our Pharmaceuticals & Healthcare Business Environment Ratings reveals that Costa Rica, Panama, El Salvador, Guatemala, Honduras, Nicaragua and Belize should not be priorities for drugmakers looking to penetrate Latin America. Individually, the Central America countries are secondary or even tertiary emerging markets for pharmaceutical firms.

Sizes of pharmaceutical markets range from US$13mn in Belize to US$632mn in Guatemala. Meanwhile, annual per-capita spending ranges from US$19.2 in Nicaragua to US$116.5 in Panama. Through to 2014 and 2019, sales of pharmaceuticals in Central America are forecast to post compound annual growth rates (CAGRs) of 8.52% and 8.54%, respectively.

Our newly overhauled healthcare expenditure forecast model shows that spending on medical services in Central America is projected to increase from US$9.58bn in 2009 to US$19.73bn in 2019, a CAGR of 7.49%. Governments account for the majority of expenditure, but private sector contributions are growing.

Central America has limited domestic manufacturing and is therefore dependent on pharmaceutical imports. The region’s negative trade balance is forecast to increase from -US$1.21bn in 2009 to - US$2.05bn in 2014. Imports are generally from the US, Western Europe and Mexico.

An under-developed healthcare sector is the main constraint on Central America’s clinical trials sector. Between 2006 and 2009, a total of 222 clinical studies were conducted in the region. To put this in context, neighbouring Mexico hosted 181 clinical trials in 2009 alone.

Few multinationals have a direct presence in Central America. Patented drugs are imported by wholesalers and marketed to those on high incomes through the private sector. Notable indigenous drugmakers include Donovan Werke, Ancalmo Internacional and Grupo Pharma Internacional. In line with the global trend, local manufacturers will increasingly become acquisition targets as the regional pharmaceutical market matures.

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Select License Type

Electronic License

Electronic License

An electronic version (mostly PDF, but can be Excel or PPT), which is either available for immediate download or will be sent via email by the Publisher of the report. The licencing for an electronic version is for use by the purchaser ONLY.

£330.00

Change Currency

GBP EURO USD

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