Boston, MA -- (SBWIRE) -- 08/29/2012 -- BMI View: Uninitiated pharmaceutical firms and medical device companies will find Central America a challenging, but ultimately rewarding proposition. Industrial action is common, procurement is inefficient and healthcare policy implementation is often delayed. Positive aspects include increasing government commitment to the provision of medical services, improving regulations and increasing investment by multinational firms.
Headline Expenditure Projections
- Pharmaceuticals: US$3.02bn in 2011 to US$3.15bn in 2012; +6.9% in US dollar terms. Our forecast has been slightly upwards since Q312 due to improved macroeconomic factors.
- Healthcare: US$13.41bn in 2011 to US$14.57bn in 2012; +8.6% in US dollar terms. Our forecast has been revised upwards since Q312 due to improved macroeconomic factors.
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Risk/Reward Ratings: In BMI's Q412 Pharmaceutical Risk/Reward Ratings (RRRs), based on our analysis and assessment of the market's appeal to pharmaceutical companies, the Americas region continues to rank second-lowest globally with a score of 49.2 out of 100, behind Western Europe (66), Asia Pacific (53) and Central and Eastern Europe (51), but ahead of the Middle East and Africa (44). Of the seven Central American countries surveyed, only Guatemala's RRR score has changed in Q412, down from 38.4 in Q212 to 36.9 this quarter.
Key Trends And Developments
- In July 2012, there was another case of healthcare worker industrial action in Central America. Over 2,800 doctors in Honduras went on strike over unpaid salaries and benefits, totalling HNL60mn (US$3.1mn). In addition, the physicians were seeking a 6.5% pay increase for this year.
- In July 2012, it emerged that supplies of the HIV/AIDS drug Truvada (tenofovir + emtricitabine) had been 'exhausted' in one of the main clinics in Quetzaltenago, Guatemala. A re-supply order had been dispatched to the supplier in India, but the stocks of medicine will not arrive until mid- September 2012. This situation underlines the need for improved pharmaceutical procurement methods in Central America.
- In July 2012, the Public Health Council (CSSP) in El Salvador announced that, in conjunction with raising fees paid by health professionals, it would conduct a census of health facilities in the country. It was alleged that many were operating illegally and did not have the correct licences. This development is an example of the improving regulations in the region.
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