Venezuela Pharmaceuticals and Healthcare Report Q1 2013
Business Monitor International, February 2013, Pages: 143
BMI View
High inflation, currency devaluation, import and foreign currency controls, as well as other structurally distorting policies in Venezuela have made the country's pharmaceutical market increasingly unattractive to multinationals. We expect the market to grow below nominal GDP levels between 2011 and 2015, and experience a contraction in real growth terms.
Headline Expenditure Projections
- Pharmaceuticals: VEB36.28bn (US$8.45bn) in 2011 to VEB44.85bn (US$10.44bn) in 2012; +23.6% in local currency terms and +23.6% in US dollar terms. Forecasts up due to new macroeconomic information.
- Healthcare: VEB64.07bn (US$14.92bn) in 2011 to VEB81.68bn (US$19.02bn) in 2012; +27.5% in local currency terms and +27.5% in US dollar terms. Forecasts up due to new macro data.
- Medical devices: VEB11.07bn (US$2.58bn) in 2011 to VEB14.11bn (US$3.29bn) in 2012; +27.5% in local currency terms and 27.5% in US dollar terms. Forecasts up due to new macroeconomic data.
BMI Industry View 7
SWOT 9
Political 11
Economic 12
Business Environment 13
Industry Forecast 14
Pharmaceutical Market Forecast 14
Table: Pharmaceutical Sales, 2009-2017 15
Healthcare Market Forecast 16
Table: Overall Healthcare Expenditure, 2009-2017 17
Table: Government Healthcare Expenditure, 2009-2017 17
Table: Private Healthcare Expenditure, 2009-2017 18
Table: VENEZUELA - ECONOMIC ACTIVITY 24
Prescription Drug Market Forecast 24
Table: Prescription Drug Sales, 2009-2017 25
Patented Drug Market Forecast 26
Table: Patented Drug Sales, 2009-2017 27
Generic Drug Market Forecast 28
Table: Generic Drug Sales, 2009-2017 29
OTC Drug Market Forecast 30
Table: OTC Medicine Sales, 2009-2017 31
Industry Forecast Import/Export 32
Table: Pharmaceutical Trade, 2009-2017 34
Table: Pharmaceutical Trade, 2008-2016 34
Medical Devices Forecast 35
Table: Table: Medical Device Sales, 2009-2017 36
Industry Forecast Other Healthcare Data 36
Key Risks To BMI's Forecast Scenario 37
Industry Risk Reward Ratings 39
Table: Table: Americas Pharmaceutical Risk/Reward Ratings, Q113 39
Market Overview 42
Industry Trends And Developments 43
Epidemiology 43
Communicable Diseases 43
Non-Communicable Diseases 44
Healthcare Sector Developments 46
Hospital Sector 51
Private Healthcare Sector 59
Supply Chain 63
Table: Members of CAVEDRO, 2009 64
Research & Development 66
Medical Devices 67
Regulatory Development 69
Regulatory Regime 69
Intellectual Property 70
Regulatory Developments 72
Pharmaceutical Registration 73
Table: Registration Requirements 74
Table: Renewal Requirements 76
Advertising 77
Biologics And Biosimilars 78
Intellectual Property Issues 78
International Collaboration 81
Pricing 82
Reimbursement 87
Competitive Landscape 88
Pharmaceutical Sector 88
Foreign Industry 89
Domestic Industry 91
Table: Members of CAMESIP, 2010 93
Pharmaceutical Distribution 93
Table: Members of CAVEFAR, 2009 95
Production 98
Table: Members of CAVEME, 2010 99
Table: Members of CIFAR, 2010 100
Company Developments 101
Company Profile 110
Grupo Farma 110
Elmor 113
Strides Latina (Sumifarma) 116
Calox International 118
Pfizer 120
Sanofi 124
GlaxoSmithKline 126
Boehringer Ingelheim 129
Novartis 131
Merck & Co 133
Demographic Forecast 135
Venezuela Demographic Data 135
Table: Venezuela's Population By Age Group, 1990-2020 ('000) 136
Table: Venezuela's Population By Age Group, 1990-2020 (% of total) 137
Table: Venezuela's Key Population Ratios, 1990-2020 138
Table: Venezuela's Rural And Urban Population, 1990-2020 138
Glossary 139
Methodology 141
Methodology 141
Risk/Reward Ratings Methodology 141
Ratings Overview 142
Table: Pharmaceutical Business Environment Indicators 142
Weighting 143
Table: Weighting Of Components 143
Sources 143
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