|
|
 |
|
Viewing report
|
|
|
|
Central America Pharmaceuticals and Healthcare Report Q1 2012
Business Monitor International, Nov 2011, Pages: 51
Business Monitor International's Central America 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 Central America's pharmaceuticals and healthcare industry.
BMI View:
As countries are expected to invest heavily in healthcare provision over the medium term, BMI forecasts the pharmaceutical markets of the seven states that comprise Central America to represent a modest but growing proposition to drugmakers, healthcare providers and medical device manufacturers. While there have been significant gains across some markets, BMI maintains the view that regulatory deficiencies – specifically data protection enforcement of patents – and potential political instability present considerable downside risks.
Headline Expenditure Projections:
- Pharmaceuticals: US$2.82bn in 2010 to US$3.03bn in 2011; +7.25% in US dollar terms. Our forecast has been revised upwards since Q411 due to the receipt of new historic data.
- Healthcare: US$12.06bn in 2010 to US$13.40bn in 2011; +11.08% in US dollar terms. Our forecast has been revised upwards since Q411 due to the receipt of new historic data.
Business Environment Ratings:
The attractiveness of the Americas to multinational drugmakers is stagnating, while other regions are improving, according to BMI's Pharmaceutical Business Environment Ratings (BERs) for Q112. On the proprietary market ranking system, the score for the Americas is unchanged, at 49.0 out of 100, compared with the previous quarter. The BER scores were also unchanged in Central and Eastern Europe and Asia Pacific. Increases were made for the Middle East and Africa and Western Europe.
Key Trends And Developments:
- Central America's respect for intellectual property (IP) rights with regard to medicines has deteriorated, according to the Pharmaceutical Research and Manufacturers of America (PhRMA)'s Special 301 submission to the Office of the US Trade Representative (USTR) for 2011. Costa Rica, Panama and Honduras remain on the Watch List, while El Salvador and Nicaragua were added by PhRMA, which represents the interests of biopharmaceutical companies in the US.
- A report by the Council for the International Promotion of Costa Rica Medicine (PROMED) in July 2011 said 36,000 visitors seeking medical care contributed US$288mn to the country's economy in 2010. PROMED estimates medical tourism and spin-off industries employ approximately 20,000 people in Costa Rica, equivalent to 1% of the total workforce.
- In June 2011, with the assistance of the International Atomic Energy Agency (IAEA), Nicaragua opened its first cancer diagnosis and treatment facility in the capital Managua. The Minister of Health, Sonia Castro, said the US$1.2mn centre will offer 150 free radioactive iodine treatments to patients suffering from thyroid cancer in its first year.
- In May 2011, researchers from the Veterans Affairs Ann Arbor Healthcare System and the University of Michigan suggested a potential solution for Honduras' rural population problems lies in using the country's large mobile phone penetration to create a rudimentary but effective telehealth system.
BMI Economic View:
Inflationary pressure appears not have had the destabilising impact on Central America that BMI expected in early 2011. Those economies most at risk are the ones with the fewest means to tackle the most pressing issues, while Panama and Costa Rica remain best placed to deal with threats on the domestic and external fronts. That said, with Costa Rica's economic outlook is not as bright as it was a few years ago, BMI still believes the region is moving from a two-speed to a three- or four-speed economic development path.
BMI Political View:
Number one on the list of concerns for Central America is what would happen if the US economy slipped back into recession. It is not our core scenario but it would clearly have a severe impact on most Central American countries. The region is not immune to the Eurozone's sovereign debt crisis, nor is it isolated from a potential slowdown in Asian economies, particularly China. Add to this the complication of elections across the region, which could have significant consequences for long-term political stability and investor confidence, and the ongoing battle against powerful drug traffickers, there is lots to be concerned about.
Product samples
A sample for this product is available. Please Login/Register to download this sample.
|
|
|
|
