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Venezuela Healthcare (Pharma and Medical Devices) Market Analysis, Regulatory, Reimbursement and Competitive Landscape

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  • 121 Pages
  • September 2022
  • Region: Venezuela
  • GlobalData
  • ID: 5665592
1h Free Analyst Time
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The publisher, the industry analysis specialist, has released its latest report: “Venezuela Healthcare (Pharma and Medical Devices) Market Analysis, Regulatory, Reimbursement and Competitive Landscape”. The report is an essential source of information on analysis of the healthcare, regulatory and reimbursement landscape in Venezuela. It identifies the key trends in the country's healthcare market and provides insights into its demographic, regulatory and reimbursement landscape, and healthcare infrastructure. Most importantly, the report provides valuable insights into the trends and segmentation of its pharmaceutical and medical device markets. It uses data and information sourced from proprietary databases, secondary research, and in-house analysis by the publisher's team of industry experts.

The Venezuelan pharmaceutical market used to be one of the most prosperous markets in the world. However, since 2018, its expansion has been substantially hindered by political and economic challenges. The healthcare system's disintegration and hyperinflation have a significant impact on the pharmaceutical sector. The Venezuelan pharmaceutical market in terms of sales value was projected to grow from $10.5 billion in 2014 to $115.1 billion in 2021. The Venezuelan OTC medicines market was worth $0.6 billion in 2011 which is projected to increase at a CAGR of 32% to $10.9 billion in 2021. On March 30, 2021, the Venezuelan Ministry of People's Power for Health (MPPS) and the Russian Federal State Institution (FSI), 'State Institute of Drugs and Good Practices' signed an agreement in Caracas. Pharmaceutical inspectors from both nations will work together on long-term initiatives involving the sharing of information, involvement in regulatory inspections for Good Manufacturing Practice (GMP) regulation compliance, and the battle against counterfeit medications in both countries.


The report provides information on the healthcare, regulatory, and reimbursement landscape in Venezuela, and includes -
  • An overview of the pharmaceutical and medical device markets, comprising market size, segmentation, and key drivers and barriers.
  • Profiles and SWOT analyses of the major players in the pharmaceutical market: Roche, Pfizer, GSK, Novartis, and Bayer.
  • Profiles and SWOT analyses of the major players in the medical device market: Roche, Fresenius, Medtronic, Abbott, and Coloplast.
  • An insightful review of the COVID-19 epidemiology, COVID-19 impact and developments in the healthcare market, HealthTech landscape, reimbursement, and regulatory landscape, with analysis covering details of the country's healthcare reimbursement process, regulatory agencies, and the approval processes for new drugs and medical devices.
  • Detailed analysis of the country's healthcare policy highlights, demographics, healthcare infrastructure, and healthcare expenditure.
  • An overview of the opportunities for and challenges to growth in the Venezuelan healthcare market.

Reasons to Buy

This report will enhance your decision-making capability by allowing you to -
  • Develop business strategies by understanding the trends shaping and driving Venezuelan healthcare market
  • Drive revenues by understanding the key trends, reimbursement and regulatory policies, pharmaceutical market segments and companies likely to impact Venezuelan healthcare market in the future
  • Formulate effective sales and marketing strategies by understanding the competitive landscape and analyzing competitors' performance
  • Organize your sales and marketing efforts by identifying the market categories and segments that present the most opportunities for consolidation, investment and strategic partnership

Table of Contents

1. Table of Contents
1.1 List of Figures
1.2 List of Tables
2. Executive Summary
2.1 Executive Summary
2.2 Key Highlights - Facts about the Venezuelan Healthcare Market
2.3 Key Highlights: Healthcare Startups in Venezuela
2.4 Key Events: Venezuelan Healthcare Timeline, 2016-22
2.5 Key Events: Venezuelan Pharmaceutical Market
2.6 Key Events: M&As, VC & PE Deals, Global Pharmaceutical Market, 2020-22
2.7 Key Events: Mergers and Acquisitions
2.8 Country Profile, Venezuela, 2021
3. Overview of Pharmaceutical Market
3.1 Pharmaceutical Market - Overview
3.2 Pharmaceutical Market - Exports
3.3 Pharmaceutical Market - Imports
3.4 Pharmaceutical Market - Supply Channels, Venezuela
3.5 Pharmaceutical Market - Market Segments
3.6 Pharmaceutical Market - Market Segments, OTC Medicines, Venezuela
3.7 COVID-19 Epidemiology, Venezuela
3.8 COVID-19 Impact and Developments in the Healthcare Market, Venezuela
3.9 COVID-19 Clinical Trials Landscape, Venezuela
3.10 Pharmaceutical Market - Major Players
4. Overview of Medical Devices Market
4.1 Medical Device Market - Overview
4.2 Medical Devices Market - Major Players
5. Pharmaceutical and Medical Devices Market - Drivers and Barriers
5.1 Drivers
5.2 Barriers
6. Deal Analysis
6.1 Deal Analysis: Pharmaceutical Market, Venezuela, 2021-22
6.2 Deal Analysis: Medical Device Market, Venezuela, 2020-22
7. HealthTech Landscape
7.1 HealthTech Landscape, Venezuela
7.2 Adoption of Technology in Healthcare, Venezuela
7.3 Digital Regulations, Venezuela
7.4 HealthTech Landscape: Benefits and Risks, Venezuela
8. Market Access
8.1 Overview of Healthcare System, Venezuela
8.2 Reimbursement Landscape, Venezuela
8.3 Overview of Insurance Providers, Venezuela
8.4 Healthcare Spending and Consumer Price Index Trends, Venezuela
8.5 Pricing Policies, Venezuela
8.6 Regulatory Landscape, Venezuela
8.6.1 Marketing Authorization for Pharmaceutical Products, Venezuela
8.6.2 Marketing Authorization for Medical Devices, Venezuela
8.6.3 Intellectual Property Rights, Patent, Venezuela
8.6.4 Intellectual Property Rights, Trademark, Venezuela
8.6.5 Clinical Trial Regulation Process, Venezuela
8.6.6 Pharmaceutical Clinical Trials Landscape, Venezuela
8.6.7 Pharmaceutical Import and Export, Venezuela
8.6.8 Pharmaceutical Advertising Regulations, Venezuela
8.6.9 Labeling and Packaging Regulations, Venezuela
9. Country Healthcare Landscape
9.1 Venezuela Healthcare Policy Highlights
9.2 Healthcare Resources and Healthcare Personnel, Venezuela
9.3 Life Expectancy and Immunization Rate, Venezuela
9.4 Environmental Health, Venezuela
9.5 Disease Burden, Venezuela
9.6 Healthcare Expenditure, Venezuela
10 Trade Associations, Venezuela11 Trade Fairs, Venezuela12 Opportunities and Challenges
13 Appendix
13.1 Research Methodology
13.1.1 Coverage
13.1.2 Secondary Research
13.1.3 Forecasts
13.2 Bibliography
13.3 About the Publisher
13.4 Contact Us
13.5 Disclaimer
List of Tables
Table 1: COVID-19 indicators (number of cases), global and Venezuela, 2022
Table 2: Available COVID-19 IVD products, Venezuela, 2020-22
Table 3: Authorized COVID-19 vaccines, Venezuela, 2022
Table 4: Old age, disability, and survivors' source of funds, Venezuela, 2022
Table 5: Trade fairs, Venezuela, 2022
List of Figures
Figure 1: Pharmaceutical market sales ($B), Venezuela, 2014-21
Figure 2: OTC market revenue ($B), Venezuela, 2014-21
Figure 3: Healthcare start-ups in Venezuela, 2022
Figure 4: Country profile, Venezuela, 2021
Figure 5: Pharmaceutical market sales ($B), Venezuela, 2014-21
Figure 6: Pharmaceutical market sales forecast ($B), Venezuela, 2022-25
Figure 7: Pharmaceutical exports ($M), Venezuela, 2010-13
Figure 8: Top export partners, Venezuela, 2013
Figure 9: Pharmaceutical imports ($M), Venezuela, 2013-21
Figure 10: Top import partners, Venezuela, 2013
Figure 11: OTC medicines market ($M), major categories, Venezuela, 2015
Figure 12: OTC market revenue ($B), Venezuela, 2014-21
Figure 13: COVID-19 cases, Venezuela, 2020-22
Figure 14: COVID-19 deaths, Venezuela, 2020-22
Figure 15: COVID-19 stringency index (based on the share of people who are vaccinated), Venezuela, 2020-22
Figure 16: COVID-19 containment and health index, Venezuela, 2020-22
Figure 17: WHO’s components of the National Coronavirus Prevention and Control Plan, Venezuela, 2020
Figure 18: COVID-19 clinical trials count by trial status, Venezuela, 2020-22
Figure 19: COVID-19 clinical trials count by trial phase, Venezuela, 2020-22
Figure 20: Top COVID-19 clinical trial sponsors by trial count, Venezuela, 2020-22
Figure 21: Certified medical devices, Venezuela, 2020
Figure 22: Medical devices market, revenue ($B) of major companies, Venezuela, 2021
Figure 23: Deal value and deal count, medical devices market, Venezuela, 2020-22
Figure 24: Deal value and deal count subtypes, medical devices market, Venezuela, 2020-22
Figure 25: Deal value and deal count, quarterly, medical devices market, Venezuela, 2020-22
Figure 26: Top equipment sectors by deal value ($M), medical devices market, Venezuela, 2020-22
Figure 27: Top equipment sectors by deal count, medical device market, Venezuela, 2020-22
Figure 28: Digital collaborations in Venezuela, 2020-22
Figure 29: Overview of healthcare system, Venezuela, 2022
Figure 30: OOP expenditure (% off current expenditure on health), Venezuela, 2013-19
Figure 31: Consumer Price Index (% annual change), Venezuela, 2012-16
Figure 32: Organizational structure of INHRR, Venezuela, 2022
Figure 33: Organizational structure of MPPS, Venezuela, 2022
Figure 34: Drug approval process, Venezuela, 2022
Figure 35: Medical device certification stages, Venezuela, 2022
Figure 36: Patent application process, Venezuela, 2022
Figure 37: Pharmaceutical clinical trial count by trial status, Venezuela, 2021-22
Figure 38: Pharmaceutical clinical trial count by indication, Venezuela, 2021-22
Figure 39: Pharmaceutical clinical trial count by phase, Venezuela, 2021-22
Figure 40: Top five pharmaceutical clinical trial sponsors by count, Venezuela, 2021-22
Figure 41: Hospital beds (per 1,000 population), Venezuela, 2014-21
Figure 42: Nurses and midwives (per 1,000 population), Venezuela, 2017-21
Figure 43: Life expectancy at birth (years), Venezuela, 2013-20
Figure 44: Immunization rate (%), Venezuela, 2013-20
Figure 45: CO2 emissions (million tons), Venezuela, 2013-21
Figure 46: PM2.5 (µg per m3), Venezuela, 2013-21
Figure 47: Major causes of mortality (per 100,000 population), Venezuela, 2019
Figure 48: Major causes of male mortality (per 100,000 population), Venezuela, 2019
Figure 49: Major causes of female mortality (per 100,000 population), Venezuela, 2019
Figure 50: DALYs by major disease (per 100,000 population), Venezuela, 2019
Figure 51: Healthcare expenditure as percentage of GDP (%), Venezuela, 2013-21
Figure 52: Health expenditure share (% of total health spending), Venezuela, 2013-21