Peru Pharmaceuticals and Healthcare Report Q1 2011
Business Monitor International, December 2010, Pages: 79
Peru Pharmaceuticals and Healthcare Report provides industry professionals and strategists, corporate analysts, pharmaceutical associations, government departments and regulatory bodies with independent forecasts and competitive intelligence on Peru's pharmaceuticals and healthcare industry.
Recently released central bank data shows that the Peruvian economy continues to expand at a rapid rate, growing by 8.94% year-on-year (y-o-y) in August 2010 and confirming our bullish outlook for the country. Growth rates are continuing to tick down gradually from the blistering 12% posted in June, but we expect economic expansion to remain robust over the coming years, largely on the back of booming commodity prices and strengthening domestic consumption. Real GDP growth is forecast at 7.8% in 2010 and 5.8% in 2011, respectively, which will provide a solid base for continued investment in the country’s healthcare sector. This, in turn, should boost access to pharmaceuticals, both in volume and value terms.
For 2010, we expect per-capita pharmaceutical expenditure in Peru will post a 20% y-o-y increase, to reach a still very modest US$42.5, which indicates long-term potential. Overall, Peru remains an average regional market in terms of its attractiveness to foreign companies. In BMI’s Pharmaceuticals & Healthcare Business Environment Ratings (BERs) for Q111, Peru is again ranked ninth of the 17 markets now surveyed in the Americas matrix. However, its position is expected to improve markedly in the longer term, due to a combination of demographic, economic and trade factors.
Presently, however, Peru’s intellectual property (IP) environment represents one of the major drawbacks to the involvement of foreign companies, although this area is expected to improve in light of the increasing trade links with developed markets.
At consumer prices, Peru’s pharmaceutical market was valued at just over PEN3bn (US$1bn) in 2009, with a 12.8% y-o-y increase forecast for 2010. Over the 2009-2014 forecast period, the value of the market is expected to post a compound annual growth rate (CAGR) of 9.75%, reaching PEN4.9bn (US$1.9bn). However, the growing discrepancy between the value of commodity exports and production volumes is leaving many South American economies, and particularly Peru and Chile, increasingly exposed to a correction in commodity prices. The increasing bias towards extractive industries is coming at the cost of developing the manufacturing sector, potentially weighing on the region's long-term economic development, which also carries significant downside risks for our healthcare and pharmaceutical forecasts.
Multinationals are expected to mostly remain active in Peru through imports and – more recently – clinical trials. Increasingly, however, Indian companies are showing interest in investing in different sectors in Peru, including the medicines industry. The companies are reportedly looking to enter various joint ventures (JV) to strengthen their business links with pharmaceutical and other sectors in Peru.
The governments have discussed the possibility of signing multiple agreements that could include a bilateral free trade agreement (FTA).
Executive Summary
SWOT Analysis
Peru: Pharmaceuticals And Healthcare Industry SWOT
Peru Political SWOT
Peru Economic SWOT
Peru Business Environment SWOT
Pharmaceutical Business Environment Ratings
Table: Americas – Regional Pharmaceutical Business Environment Ratings, Q111
Rewards
Risks
Peru – Market Summary
Regulatory Regime
Recent Regulatory Developments
Intellectual Property Regime
IP Shortcomings
Counterfeit Pharmaceuticals
Trade Agreements
Pricing Regime
Government Tenders
Reimbursement Regime
Other Regulatory Issues
Industry Developments
Epidemiology
Non-Communicable Diseases
Communicable Diseases
Recent Public Health Developments
Healthcare Sector
Healthcare Finances
Healthcare Provision
Table - Key Goals of Parsalud II in Nine Regions*
Health Insurance
Clinical Trials
Medical Devices
Industry Forecast Scenario
Overall Market Forecast
Table: Pharmaceutical Sales Indicators 2006-2014
Key Growth Factors – Industry
Table: Healthcare Expenditure Trends, Historical Data and Forecasts, 2006-2014
Key Growth Factors – Macroeconomic
Prescription Drug Market Forecast
Table: Prescription Drug Sales Indicators 2006-2014
Patented Drug Market Forecast
Table: Patented Drug Sales Indicators 2006-2014
Generic Drug Market Forecast
Table: Generic Drug Sales Indicators 2006-2014
OTC Medicine Market Forecast
Table: OTC Medicine Sales Indicators 2006-2014
Medical Device Market Forecast
Table: Medical Device Sales Indicators 2006-2014
Pharmaceutical Trade Forecast
Table: Pharmaceutical Imports & Exports Indicators 2006-2014
Other Healthcare Data Forecasts
Key Risks To BMI’s Forecast Scenario
Competitive Landscape
Pharmaceutical Sector
Table: Peruvian Pharmaceutical Companies That Acquired GMP Accreditation In 2006
Foreign Industry
Domestic Industry
Pharmaceutical Distribution And Retail
Company Profiles
Indigenous Manufacturer Profiles
Farmaindustria
Unimed
Hersil
Leading Multinationals
Sanofi-Aventis
Merck & Co
GlaxoSmithKline
Novartis
Pfizer
AstraZeneca
Country Snapshot: Peru Demographic Data
Section 1: Population
Section 2: Education And Healthcare
Section 3: Labour Market And Spending Power
Table: Consumer Expenditure, 2000-2012 (US$)
Table: Average Annual Manufacturing Wages, 2000-2012
BMI Methodology
How We Generate Our Pharmaceutical Industry Forecasts
Pharmaceuticals Business Environment Ratings
Risk/Reward Ratings Methodology
Ratings Overview
Table: Pharmaceutical Business Environment Indicators
Weighting
Table: Weighting Of Components
Sources
- Farmaindustria
- Unimed
- Hersil
- Sanofi-Aventis
- Merck & Co
- GlaxoSmithKline
- Novartis
- Pfizer
- AstraZeneca
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