New Healthcare research report from Business Monitor International is now available from Fast Market Research
Boston, MA -- (SBWIRE) -- 10/29/2014 -- Venezuela's improving foreign currency supply, increasing pharmaceutical imports from political allies and the potential expansion of free medicine coverage in the public sector will ease the shortage of local medicine s in the near term. However, fundamental issues - such as price controls, high inflation, currency devaluation, import and foreign currency controls and the government's attitude towards normal business practices - have not changed. We therefore maintain the bearish view towards Venezuela's long-te rm pharmaceutical market growth .
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Headline Expenditure Projections
- Pharmaceuticals: VEB59.85bn (USD9.85bn) in 2013 to VEB93.45bn (USD14.85bn) in 2014; +56.1% in local currency terms and 50.8% in US dollar terms. Forecast revised upwards from Q314 due to higher inflation forecast.
- Healthcare: VEB108.28bn (USD17.82bn) in 2013 to VEB163.68bn (USD26.01bn) in 2014; +50.9% in local currency terms and 45.7% in US dollar terms. Forecast up due to higher inflation forecast.
Risk/Reward Rating : Venezuela comes eighth in BMI's RRR matrix for Q414 in America, which ranks pharmaceutical markets according to their attractiveness to multinational drugmakers. Venezuela's pharmaceutical market is expected to grow at double-digit rates through to 2023 in local currency terms, largely due to inflation.
Key Trends And Developments
- In August 2014, the Venezuelan government approved a number of projects aimed at expanding existing public healthcare programmes. Recently, the National Assembly granted VEF1.14bn (USD0.18bn) to increase number of doctors in the public health system and enhance supplies and equipment, particularly orthodontic equipment, for the nation's hospitals.
- In August 2014, Venezuela's Pharmaceutical Industry Chamber (CIFAR) reported that the government has been progressively granting foreign currencies requested by drugmakers for importing pharmaceutical ingredients and medicines.
- In July 2014, South African drugmaker ...
The Venezuela Pharmaceuticals & Healthcare Report features Business Monitor International (BMI)'s forecasts for drugs and healthcare expenditure and imports and exports, focusing on the growth outlook for the prescription, OTC, patented drugs and generics market segments.
BMI's Venezuela Pharmaceuticals & Healthcare Report provides industry professionals, strategists, company executives, investors, analysts and sales/marketing heads with independent forecasts and competitive intelligence on the Venezuelan pharmaceutical and healthcare industry.
- Benchmark BMI's independent pharmaceutical and healthcare industry forecasts for Venezuela to test other views - a key input for successful budgeting and strategic business planning in the Venezuelan pharmaceutical and healthcare market.
- Target business opportunities and risks in the Venezuelan pharmaceutical and healthcare sector through our reviews of latest industry trends, regulatory changes and major deals, projects and investments in Venezuela.
- Assess the activities, strategy and market position of your competitors, partners and clients via our Company Profiles (inc. SWOTs, KPIs and latest activity) and Competitive Landscape Tables.
BMI Industry View & Industry SWOT
An at-a-glance perspective on latest regulatory developments, key forecast indicators and major corporate developments, covering the prescription, OTC and generics markets. The SWOT outlines strategic factors which affect BMI's forecast analysis, and taken together with BMI's political, economic and business environment SWOTS, it gives a complete overview of market climate.
Snapshot of key market characteristics, including total size of pharmaceuticals and healthcare segments, growth drivers, leading therapeutic areas and the competitive landscape.
Details of the industry regulatory framework and key legislation covering the licensing of new products/services, pricing and reimbursements, intellectual property, taxation and advertising, as well as an analysis of the overall regulatory burden.
Focus on government healthcare reforms, epidemiological trends, company M&As, product launches, market entries, FDI activity, R&D, biotechnology, clinical trials and supply chain issues.
BMI Industry Forecasts
Forecasts to end-2018 for all key industry indicators (see list below) supported by explicit assumptions, plus analysis of key downside risks to the main forecast, including:
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