Fast Market Research recommends "Chile Pharmaceuticals & Healthcare Report Q1 2013" from Business Monitor International, now available
Boston, MA -- (SBWIRE) -- 02/05/2013 -- BMI View: Pharmaceutical companies will continue to look to fast-growing emerging markets for revenue growth, and we believe Latin American economies, with their 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. Chile's open economy and its bilateral, regional and multilateral trade agreements have facilitated a steady increase in trade between it and pharmaceutical markets globally, boosting the country's international competitiveness. Trade agreements will provide foreign drugmakers with more direct access to the Chilean pharmaceutical market, and in the long term may improve regulations within the pharmaceutical industry, ultimately attracting increased foreign investment.
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Headline Expenditure Projections
Pharmaceuticals: CLP1,485bn (US$3.07bn) in 2011 to CLP1,604bn (US$3.30bn) in 2012; +8.0% in local currency terms and +7.5% in US dollar terms.
Healthcare: CLP8,904bn (US$18.40bn) in 2011 to CLP9,584bn (US$19.72bn) in 2012; +7.6% in local currency terms and +7.2% in US dollar terms.
Medical devices: CLP384bn (US$790mn) in 2011 to CLP408bn (US$842mn) in 2012; +6.1% in local currency terms and +5.7% in US dollar terms.
Risk/Reward Rating: In Q113's Americas Pharmaceutical Risk/Reward Ratings (RRRs) matrix, Chile ranks in seventh place out of the 17 countries surveyed, scoring a total of 56.7 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 Q113 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
In October 2012, Chile signed an agreement with Mexico at the Ninth Meeting of Medicine Regulators of the Ibero-American Countries (EAMI), in Santiago, Chile. The trade agreement will allow pharmaceutical products registered in Mexico to enter Chile directly, as soon as 'the health agencies in both nations exchange the necessary technical information', according to the secretariat. The secretariat added that 'mutual recognition will benefit consumers and the pharmaceutical industries in both countries and mark a milestone for the Chile domestic pharmaceutical industry.'
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