Recently published research from Business Monitor International, "Chile Pharmaceuticals & Healthcare Report Q4 2012", is now available at Fast Market Research
Boston, MA -- (SBWIRE) -- 12/11/2012 -- BMI View: Pharmaceutical companies will continue to look to fast growing emerging markets for revenue growth, and we believe that Latin American economies, with rising incomes, ageing populations and increased spending on healthcare will provide significant opportunities. Indeed, it is our view that emerging markets will be the main drivers of the pharmaceutical sector's expansion over the coming years as growth in traditional markets such as the US, Western Europe and Japan remains lacklustre. We note however, that imported patented and high-cost drugs, mostly originating from Europe and the US, account for a significant portion of the Latin American pharmaceutical market in terms of value.
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Headline Expenditure Projections
- Pharmaceuticals: CLP1,508bn (US$3.12bn) in 2011 to CLP1,642bn (US$3.22bn) in 2012; +8.9% in local currency terms and +3.3% in US dollar terms.
- Healthcare: CLP9,034bn (US$18.67bn) in 2011 to CLP9,941bn (US$19.49bn) in 2012; +10.0% in local currency terms and +4.4% in US dollar terms.
- Medical devices: CLP256.33bn (US$530mn) in 2011 to CLP267.45bn (US$525mn) in 2012; +4.3% in local currency terms and -1.0% in US dollar terms.
Risk/Reward Rating: In Q412's America's pharmaceutical risk/reward ratings (RRRs) matrix, Chile ranks in seventh place out of the 17 countries surveyed, scoring a total of 53.7 out of 100. We expect Chile, which has a favourable rewards profile, to climb up the regional matrix over the coming years as operational risks become addressed. In the Q412 RRRs, with regards to the country's attractiveness to innovative drug companies, Chile stands above Argentina and Peru and below Mexico and Brazil.
Key Trends And Developments
- Two military mobile hospital centres were installed in Santiago in late June 2012. The installation enables the treatment of respiratory diseases in the country as well as catering for the rise in demand for medical services. The Military Mobile Attention Centres will cater to additional patients during a winter of poor air quality that caused a rise in respiratory illnesses. The move also enables the country to get prepared for tackling the most agitated period in reference to respiratory illnesses, the syncytial virus, temperature changes and bad ventilation conditions, the country's President Sebastian Pinera said.
- In April 2012, the health commission of the Chamber of Deputies in Chile issued a vote on the bill that would permit over-the-counter sale of non-prescription drugs. However, the majority of the members of the parliament voted against the bill, according to the Chamber of Deputies. Moreover, the bill is also not supported by the two deputies of the commission - RN Karla Monckeberg Rubilar and Nicolas. Meanwhile, the government, through the bill, aims to increase competition in the sale of medicines, which will decrease lower prices and improve the access of medicines.
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