New Healthcare market report from Business Monitor International: "Argentina Pharmaceuticals & Healthcare Report Q2 2014"
Boston, MA -- (SBWIRE) -- 03/07/2014 -- Argentina's pharmaceutical industry has been relatively competitive in the Latin America region due to skilled professionals, low-cost operations and export-oriented policies. However, public incentives in the Argentinean biotechnology sector remain scant, are scattered across the country and there is a lack of continuity in comparison with its neighbour Brazil. The long-term absence of orthodox economic policy in the country will also hinder private investment in Argentina's biotechnology sector.
Headline Expenditure Projections
Pharmaceuticals: ARS44.8bn (US$9.6bn) in 2013 to ARS57.2bn (US$8.5bn) in 2014; +27.7% in local currency terms and -11.5% in US dollar terms. These figures have been revised upwards since Q114 due to macroeconomic forecast changes.
Healthcare: ARS230.3bn (US$42.3bn) in 2013 to ARS279.1bn (US$41.4bn) in 2014; +21.2% in local currency terms and -2.0% in US dollar terms. These figures have also been revised upwards since Q114 due to macroeconomic forecast changes.
View Full Report Details and Table of Contents
Risk/Reward Rating: Argentina scores 55.7 in BMI's Pharmaceutical and Healthcare Risk/Reward Rating (RRR), making it the sixth-most attractive pharmaceutical market in America. We have re-weighted the RRR components to improve the tool, and adjusted the scores for all markets in the Pharmaceuticals & Healthcare reports. Argentina's pharmaceutical market is expected to grow at double-digit rates through to 2016 in local currency terms, largely due to inflation.
Key Trends And Developments
- In January 2014, Argentina's Department of Small and Medium Enterprises and Regional Development (SEPyMEyDR) signed an agreement with the Biotechnology Consortium of Tandil to grant nonreimbursable funds, amounting to ARS367,000 (US$55,600), to local biotechnology companies in Tandil.
- In the same month, Argentina's three pharmaceutical industry associations: the Industrial Chamber of Argentine Pharmaceutical Laboratories (Cilfa) for large domestic laboratories, the Argentina Chamber of Medical Specialties (Caeme) representing foreign companies, and the Business Chamber of Pharmaceutical Laboratories (COOPERALA) for small domestic laboratories planned to increase the country's pharmaceutical exports to Brazil.
- In January 2014, Argentina-based Craveri Laboratories announced plans to invest US$500mn over the next 10 years to construct a new pharmaceutical plant in Pilar Industrial Park.
- In December 2013, the directors of the Argentina Chamber of Biotechnology (CAB) and the Secretary of State for Science, Technology and Innovation of Santa Fe, David Asteggiano, met to promote investments in biotechnology ventures in the province of Santa Fe.
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