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The Pharmaceutical Market: Cuba
Espicom Business Intelligence Ltd, Oct 2011, Pages: 56
THE PHARMACEUTICAL MARKET: CUBA - REVIEW
The analyst estimates that Cuban health expenditure is the lowest in the Americas region. Nearly all health expenditure will be accountable to the public sector in the 2011-2016 period. Due to fluctuating GDP rates, expenditure as a percentage of GDP is expected to oscillate between 11.6% and 12.9% in the forecast period. Given that all medical care is officially free, private expenditure is limited to unofficial payments to officials and healthcare professionals, and health tourism.
Locally-produced drugs do not operate in a market as such, and therefore it is difficult to place a value on them. The economy is expected to do well in the 2011-2016 period, and the Economist Intelligence Unit (EIU) believes that mid-term economic policy is expected to be focused on making the economic system more flexible and promoting more private initiatives. The Cuban pharmaceutical market is the smallest in the Americas region. Espicom projects a moderate CAGR in dollar terms between 2011 and 2016. The Cuban pharmaceutical market increased in value by five times in the 1995-2010 period.
Cuba has developed a well-established pharmaceutical industry based on the formulation or manufacturing of generic medicines. An important Cuban biotechnology industry has also been developed. The government is responsible for domestic production, which represents between 80% and 90% of the market. In order to strengthen domestic pharmaceutical production, the Ministry of Basic Industry (MINBAS) formed the Chemical Pharmaceutical Business Group (QUIMEFA) in 2001. There were 28 pharmaceutical producers recorded in 2010. Production increased by four times between 1997 and 2008.
ENHANCED STRATEGIC INTELLIGENCE
These highly regarded world pharmaceutical market reports have been redesigned to provide enhanced strategic intelligence in a user-friendly format. Each report provides in-depth information, setting the pharmaceutical market in context. The reports provide:
- Five-year projections for economic, demographic, health expenditure, health workforce and pharmaceutical market indicators.
- Specialised intelligence on OTCs, generics, biologics and biosimilars.
- Exclusive economic and demographic data from the Economist Intelligence Unit (EIU) for each market in the series.
- A separate statistical health file, comprising health expenditure, health infrastructure, health services and health personnel.
- The reports are updated quarterly, providing you with the latest information for a full year. In addition, the service will keep you up to date with market and industry news on a regular basis.
HEALTHCARE STATISTICS
A comprehensive tabula review, comprising demographics, epidemiology, health expenditure, hospital and primary care infrastructure & services and healthcare personnel, is additionally included.
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